MCH Group | Ad hoc announcement pursuant to Art. 53 LR | Year-end Closing 2021
MCH Group with significantly improved result for 2021
- Financial result 2021 considerably above the previous year despite pandemic
- Positive half-year result for the second six months of 2021
- After a difficult first quarter, good prospects for 2022
- Innovative strategic initiatives and ambitious growth targets
- Strengthening of the capital base and renewal of debt financing
MCH Group can present a significantly improved result for 2021 compared with the previous year, despite the fact that the pandemic also had a big impact on last year. Compared with 2020, the 2021 financial year closed with an increase of about 30% in operating income, a positive EBITDA and a significantly smaller loss for the year. The key consolidated figures at a glance (in CHF million, in brackets 2020):
- Operating income: 243.3 (188.0)
- EBITDA: 8.5 (- 45.1)
- Loss for the year: - 17.3 (- 72.2)
- Equity: 47.8 / 11.8 % (67.3 / 16.8 %)
- Cash and cash equivalents 113.7 (130.1)
- Net debt: 132.7 (124.7)
The events it was possible to stage in the second half of 2021 proved to be highly successful. This was particularly the case for Art Basel in Basel and Miami Beach, and also for the Career and Education Fairs held in Zurich and Lausanne, which attracted a record number of visitors. The half-year result for the second six months of 2021 is positive (CHF 12.1 million).
The positive EBITDA and clearly lower loss for the year compared with the previous year were also achieved through financial special effects in conjunction with the pandemic and the sale of a property in Basel.
Strategy confirmed and further developed
In the past financial year, MCH Group pressed ahead with the necessary transformation and stepped up the pace. "The management and Board of Directors have reviewed, confirmed and further developed the strategy”, says Andrea Zappia, Chairman of the Board of Directors. "We have a convincing strategic framework in place with prioritized initiatives in all segments and are convinced that we will meet our ambitious growth targets in this way."
Group CEO Beat Zwahlen emphasizes: "We have developed numerous initiatives to anticipate the major changes in our markets and embrace the trends towards a more differentiated marketing mix with new experience formats and the integration of digital technologies." A number of these initiatives – including the digital format Art Basel Live, the Swissbau Innovation Lab and the first hybrid HackZurich – have already been implemented, and work on others is in progress.
Positive outlook for the current year
After a first quarter that is still difficult due to the pandemic, MCH Group rates the outlook for the current year as positive. The exhibition and event business will continue to pick up speed. It will not, however, be possible to fully offset the reverberating consequences of the pandemic and the necessary investments in strategy implementation. MCH Group is assuming that while the 2022 financial year will once again be better than the previous year, it will still close with a negative result.
The refinancing of the CHF 100 million bond due in May 2023 is initiated. In 2020 the Canton of Basel-Stadt and Lupa Systems declared their intention to support the refinancing. This backstop and other measures are under preparation. The focus is on strengthening the capital base with downstream renewal of debt financing. This will secure the refinancing of the bond and the investments required for implementation of the growth strategy.
Annual General Meeting on 23 May 2022
In the light of the ongoing preparations for the financial package of measures, the Board of Directors has taken the decision to postpone the Annual General Meeting planned for 27 April 2022 until 23 May 2022, in order to be able to provide more information on the preparations regarding the financial package of measures.
Head of Corporate Communications
+41 58 206 22 43
+ 41 58 206 22 52
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
US Foods Partners With Vertical Farming Innovator Kalera® to Expand Its Local and Sustainable Fresh Produce Portfolio18.5.2022 09:00:00 CEST | Press release
National Vertical Farming Partnership for US Foods Brings Consistent Year-Round Availability of High-Quality Leafy Greens to Customers ROSEMONT, Ill., May 18, 2022 (GLOBE NEWSWIRE) -- US Foods Holding Corp. (NYSE: USFD) today announced a strategic agreement with Kalera®, one of the world’s leading hydroponic indoor vertical farming companies. This is US Foods’ largest vertical farming relationship to date. The agreement underscores US Foods’ commitment to bringing foodservice operators a broad assortment of high-quality produce, year-round. It will also expand the portfolio of local farms that US Foods is sourcing from in various markets in support of its growing Serve Local program. As part of the agreement, Kalera and its wholly owned seed technology business Vindara, will work closely with US Foods to develop and launch new products to US Foods customers in markets across the country. Kalera will bring consistently fresh, sustainable produce year-round to US Foods through its networ
Eolus Vind AB Interim Report 1 January–31 March 202218.5.2022 08:30:00 CEST | Press release
1 January–31 March 2022 Net sales amounted to 432 (242) MSEK.EBIT amounted to -158 (-29) MSEK. Profit before tax amounted to -159 (-21) MSEK.Net profit amounted to -138 (-17) MSEK.Earnings per share, before and after dilution equaled -5.55 (-0.67) SEK.During the period, energy facilities with a total installed capacity of 0 (0) MW were taken into operations and handed over to customer.At the end of the period Eolus had 914 (874) MW under asset management. Significant events during the period Previously communicated delays for Öyfjellet have continued to affect the project and impaired the profitability forecast.Financial goals were communicated based on the business plan for 2022–2024.Eolus placed order for 16 wind turbines with Siemens Gamesa for the projects Skallberget/Utterberget and Tjärnäs in Sweden.Magnus Axelsson was recruited as new Chief Operating Officer.Karin Wittsell Heydl was recruited as Head of Communications, Sustainability and IT. Significant events after the balance
Eolus Vind AB delårsrapport 1 januari–31 mars 202218.5.2022 08:30:00 CEST | Pressemelding
Hässleholm den 18 maj 2022 1 januari–31 mars 2022 Nettoomsättningen uppgick till 432 (242) MSEK.Rörelseresultatet uppgick till -158 (-29) MSEK. Resultat före skatt uppgick till -159 (-21) MSEK.Periodens resultat efter skatt uppgick till -138 (-17) MSEK.Resultat per aktie före och efter utspädning uppgick till -5,55 (-0,67) SEK.Under perioden togs energianläggningar med en total effekt om 0 (0) MW i drift och överlämnades till kunder.Vid periodens utgång omfattade koncernens förvaltningsverksamhet 914 (874) MW. Väsentliga händelser under perioden Tidigare kommunicerade förseningar för Öyfjellet har fortsatt påverka projektet och försämrat lönsamhetsprognosen.Finansiella målsättningar kommunicerades baserade på affärsplan 2022–2024.Eolus lade en order på 16 vindkraftverk hos Siemens Gamesa till projekten Skallberget/Utterberget och Tjärnäs.Magnus Axelsson anställdes som operativ chef och vice VD i moderbolaget.Karin Wittsell Heydl anställdes som chef för kommunikation, hållbarhet och IT.
Snam and Golar LNG sign agreement for an FSRU to supply Sardinia with energy18.5.2022 08:15:00 CEST | Press release
San Donato Milanese (Milan), Bermuda – May, 18, 2022 – Snam and Golar LNG Limited (“Golar”) signed a contract through which Golar will deliver the existing LNG Carrier “Golar Arctic” as a floating storage and regasification unit (FSRU) that Snam will install in the port area of Portovesme, in Sardinia, as part of a project to supply the island with energy. The contract, for a total consideration of 269 million euros, includes the vessel and the capex for Golar to convert the Golar Arctic into an FSRU with storage capacity for up to 140,000 cubic meters. Further to the full conversion of the vessel, the FSRU will be sold to the Snam Group. Start of activities for the conversion of the ship into an FSRU and related fulfillments are subject to Snam’s issuance of a Notice-to-Proceed (NTP) and further to that the conversion is expected to take about two years for the Golar Arctic to be delivered. Forward-Looking Statements This press release contains forward-looking statements (as defined i
Sampo completes its share buyback programme18.5.2022 08:15:00 CEST | Press release
SAMPO PLC STOCK EXCHANGE RELEASE 18 May 2022 at 9:15 am Sampo completes its share buyback programme Sampo plc has now completed its share buyback programme. The repurchases of shares began on 31 March 2022 and ended on 17 May 2022. During that period, Sampo repurchased 4,961,994 of its own shares at an average price per share of EUR 45.85. The amount corresponds to 0.9 per cent of all Sampo plc’s shares. The repurchase of own shares has reduced the company's unrestricted equity by approximately EUR 228 million. The purpose of the buyback programme was to return excess capital to shareholders by reducing Sampo plc’s capital, as the repurchased shares will be cancelled. Management intends to propose to the Board that a new share buyback programme is launched after the Annual General Meeting on 18 May 2022, subject to the AGM renewing the Board authorisation on share repurchases. The Board will make a decision on the proposal at the next regular meeting, which takes place on 9 June 2022.