GlobeNewswire

Media Release | MCH Group | First half result 2020

Share

MCH Group: First half result 2020 amid COVID-19

  • Business activity brought almost to a standstill results in a pronounced decline in sales and a first-half loss.
  • Required restructuring measures have a high priority.
  • Transformation and implementation of the strategy being intensively pursued.

Following the clear improvement in its operating business result in the 2019 financial year, the MCH Group started the 2020 financial year with a successful Swissbau and well-filled order books for the Live Marketing Solutions division. Progress was being made on the projects launched in autumn 2019 to transform the company and implement the strategy adopted. Unfortunately, business activity was brought to an abrupt halt by the COVID-19 pandemic and the restrictions and bans imposed by the authorities.

As its top priority, the management took a series of immediate measures to ensure the stabilisation of the company. Fair solutions were then sought and found with the customers and suppliers affected by the exhibition cancellations. In parallel to this, the teams worked on different projects which would enable them to react to customers’ new requirements at short notice. Among other things, it proved possible to offer the first Online Viewing Rooms for Art Basel in March already, and these were then continually improved and further developed over the months that followed. These and other activities have allowed Art Basel to further strengthen its leading role in the art market. In the Live Marketing Solutions field, a large number of digital congresses and product presentations and also virtual exhibitions were implemented in the first half of 2020 already. The LMS team is today able to offer customers hybrid project solutions for combined live-marketing brand activations in both the digital and the real world.

Income statement and balance sheet

In the reporting period from 1 January to 30 June 2020, consolidated operating income fell by 55% compared to the first half of 2019 to stand at CHF 121.6 million. The consolidated operating result is CHF -21.7 million (a decline of CHF - 29.4 million compared with the first half of the previous year), and the first-half loss CHF -24.4 million (CHF -28.0 million).

The biggest drop in earnings compared with the previous year was recorded for MCH exhibitions, at -73%. The comparatively moderate decline in earnings of -31% for Live Marketing Solutions is due primarily to the fact that the USA was only affected by the impact of the pandemic in the second quarter.

Prospects

In March 2020, contingency plans were immediately drawn up and implemented across all the business segments, and have been continuously updated since then. These are based on different scenarios, including the situation where almost no large-scale events are held in 2020. As communicated at the end of July, the MCH Group is expecting a decline in sales of CHF 230 to 270 million in the 2020 financial year compared with the previous year and an annual loss in the upper double-digit million range.

In the context of the financial statements for 2019, it was already determined and confirmed by the auditors that the continued existence of the company into 2021 is not endangered. This finding is still valid. To guarantee the continued existence of the group beyond the year 2021, however, it will be necessary to implement the measures decided on at the Extraordinary General Meeting of 3 August 2020. The Board of Directors is working intensively with all stakeholders on solutions to enable the necessary capital measures to be implemented as soon as possible.

The MCH Group is expecting a clear improvement in the business situation as of the second quarter of 2021. Despite the enormous impact of the short-term loss of a large part of the company’s operating business, it is thus working intensively on implementing the strategy adopted in 2019, so that it ultimately emerges stronger from this unprecedented crisis for the live marketing industry.



Media contact:
MCH Group Ltd.
Corporate Communications
Christian Jecker
+41 58 206 22 52
christian.jecker@mch-group.com
www.mch-group.com


About GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire 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

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

PRESS RELEASE: NACON: Strong increase in profitability in 1st half30.11.2020 18:00:00 CETPress release

Nacon Press release Lesquin, 30 November 2020, 18:00 hrs Strong increase in profitability in 1st half: ·Current Operating Profit : 15.7 M€ (+47.3%) i.e. 18.2% of sales ·Net Result: 9.6 M€ (+46.7%) Outlook: New Upward revision of FY 2020/21 sales: 160-170 M€ NACON (ISIN FR0013482791) today releases its audited consolidated results for the first half of fiscal year 2020/21 (from April 1 to September 30) as approved by its Board of directors on 30 November 2020. Consolidated in M€ - IFRS09/2020 09/2019 (3) ChangeSales86.663.7+35.9%Gross margin (1) In % of Sales EBITDA (2) In % of Sales 45.3 52.3% 30.4 35.1% 39.2 61.5% 23.5 37.0%+15.5% +29.2%Current operating income EBITA In % of Sales Non recurrent items (including Bonus Shares)15.7 18.2% (1.8)10.7 16.8% (1.0) +47.3% Operating result In % of Sales13.9 16.1%9.7 15.2%+43.3%Financial result Including currency gain (loss)(0.8)(0.5) Earnings before tax In % of Sales13.1 15.2%9.3 14.5%+41.8%Tax(3.6)(2.7)Net result for the period In % of Sales9.

Saudi Arabian Oil Company and Shell & AMG Recycling B.V. Sign Agreement to Explore the Feasibility of Building a Recycling “Supercenter” in The Kingdom of Saudi Arabia30.11.2020 18:00:00 CETPress release

Amsterdam, 30 November 2020 (Regulated Information) --- The Saudi Arabian Oil Company (Saudi Aramco), Shell & AMG Recycling B.V. signed a memorandum of understanding (MOU) to evaluate the feasibility of creating a venture in support of Saudi Arabia’s (“The Kingdom”) vision to maximize value from its vast natural resources. The Kingdom is becoming a globally important region for the supply and demand of vanadium, and desires to enable the development of a world class vanadium recycling industry. In support of this initiative, Shell & AMG Recycling B.V., along with Shell Catalysts & Technologies, will explore the feasibility of building a catalyst manufacturing and recycling “supercenter” in The Kingdom. This “supercenter” will enable Saudi Aramco to refine its crudes in an environmentally sustainable manner through the manufacturing of fresh residue upgrading catalysts required to convert heavy oil fractions into valuable products and recycling the resulting spent catalysts and gasifica

PRESS RELEASE: BIGBEN: Half year results 2020/2130.11.2020 18:00:00 CETPress release

Bigben Press release Lesquin, 30 November 2020 18:00 Half year results 2020/21: ·Current Operating Income: 16.9 M€ (+26.4%) i.e. 12.5% of sales ·Net result: 9.7 M€ (+16.7%) Rise of target for FY 2020/21 Current Operating Income rate: > 12% BIGBEN INTERACTIVE (ISIN FR0000074072) today releases its consolidated results for the first half of fiscal year 2020/21 (from April 1 to September 30) as approved by its Board of directors on 30 November 2020. Consolidated in M€ - IFRS09/202009/2019 ChangeSales135.8127.0+6.9%Gross margin (1) In % of Sales EBITDA (2) In % of Sales 57.3 42.3% 33.4 24.6% 54.9 43.2% 27.7 21.8%+4.4% +20.5% Current operating income In % of Sales Non recurrent items16.9 12.5% (2.3)13.4 10.5% (1.5) +26.4% Operating result In % of Sales14.7 10.8%11.9 9.4%+23.2%Financial result Including currency gain (loss)(1.2) (0.7)(1.0) (0.3) Earnings before tax In % of Sales13.5 9.9%10.9 8.6%+23.0%Tax(3.7)(2.6)Net result for the period In % of Sales9.7 7.2%8.3 6.6% +16.7% Of which Minori

Orange Belgium expands its Executive Committee with Isabelle Vanden Eede as Chief Brand, Communication & CSR Officer and Bart Staelens as Chief Transformation & Customer Experience Officer30.11.2020 18:00:00 CETPress release

Press release Brussels, November 30, 2020 Orange Belgium expands its Executive Committee with Isabelle Vanden Eede as Chief Brand, Communication & CSR Officer and Bart Staelens as Chief Transformation & Customer Experience Officer Orange Belgium's Board of Directors validated the nomination of Isabelle Vanden Eede as Chief Brand, Communication & CSR Officer and Bart Staelens as Chief Transformation & Customer Experience Officer, both starting December 1, 2020. Isabelle Vanden Eede, 45 years old, has 23 years of branding and communication experience. She started her career at Ogilvy & Mather Advertising, managing the agencies’ telecom clients. She continued to refine her communication skills at VVL BBDO and Famous agencies, before joining Mobistar in 2010 to be responsible for the residential communication. For the past 10 years Isabelle evolved to Brand & Communication Director, responsible for the rebranding from Mobistar to Orange Belgium. Known for her strategic skills and broad exp

Sinch AB (publ): Sinch offentliggör sin avsikt att genomföra riktad nyemission och större aktieägares avsikt att sälja befintliga aktier till en fond förvaltad av SB Management30.11.2020 17:36:35 CETPressemelding

EJ FÖR OFFENTLIGGÖRANDE, DISTRIBUERING ELLER PUBLICERING, VARE SIG DIREKT ELLER INDIREKT, I ELLER TILL USA, KANADA, JAPAN, AUSTRALIEN, SYDAFRIKA, NYA ZEELAND, HONGKONG, SINGAPORE ELLER I NÅGON ANNAN JURISDIKTION DÄR OFFENTLIGGÖRANDE, DISTRIBUTIONEN ELLER PUBLICERING AV DETTA PRESSMEDDELANDE SKULLE KUNNA VARA OLAGLIG, KRÄVA YTTERLIGARE REGISTRERING ELLER ANDRA ÅTGÄRDER Pressmeddelande Stockholm den 30 november 2020 Sinch offentliggör sin avsikt att genomföra riktad nyemission och större aktieägares avsikt att sälja befintliga aktier till en fond förvaltad av SB Management Stockholm, Sverige – Sinch AB (publ) – XSTO: SINCH Sinch AB (publ) (”Sinch” eller ”Bolaget”) har uppdragit åt Carnegie och Handelsbanken Capital Markets (tillsammans ”Joint Bookrunners”) att utreda förutsättningarna för att genomföra en riktad nyemission om cirka 3,2 miljoner aktier, genom ett accelererat bookbuilding-förfarande (”Nyemissionen”). I samband med Nyemissionen, och i syfte att möta efterfrågan, har vissa s

Sinch AB (publ): Sinch announces its intention to carry out a directed new share issue and large shareholders’ intention to sell existing shares to a fund managed by SB Management30.11.2020 17:36:35 CETPress release

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA, NEW ZEALAND, HONG KONG, SINGAPORE OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE MAY BE UNLAWFUL, WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES Press Release Stockholm, 30 November Sinch announces its intention to carry out a directed new share issue and large shareholders’ intention to sell existing shares to a fund managed by SB Management Stockholm, Sweden – Sinch AB (publ) – XSTO: SINCH Sinch AB (publ) (“Sinch” or the “Company”) has mandated Carnegie and Handelsbanken Capital Markets (together, the “Joint Bookrunners”) to evaluate the conditions for carrying out a directed issue of approximately 3.2 million new shares, through an accelerated book building process (the “Share Issue”). In connection with the Share Issue, and in order to meet the demand, certain larger shareholders, including s