MCH Group remains in the red
The trade show and marketing company MCH Group remains in the red. At 14 million Swiss francs, the net loss for 2023 was even higher than in the previous year. However, this was also due to a one-time item.
In operational terms, however, the MCH Group fared better again last year. The core business of exhibitions in particular posted higher sales. Sales in this business segment rose by just under 30 percent to CHF 185.8 million, as can be seen from the annual report published on Thursday.
By contrast, the group's second mainstay, the Experience Marketing Division, suffered a drop in sales (-10 percent). At CHF 393.7 million, the MCH Group's overall turnover remained practically at the previous year's level.
Provision due to parking lot
At EBITDA level, this resulted in a profit of CHF 12.3 million (previous year: CHF 14 million). However, the result was negatively impacted by a provision of CHF 4.2 million. This had to be formed for a tarred surface on a parking lot previously rented in Zurich.
Without this special effect, the MCH Group was more profitable. At CHF 16.5 million, the adjusted EBITDA rose by around 18 percent compared with 2022. However, even after deduction of the provision, the loss of CHF 9.8 million was higher than the deficit of CHF 9.3 million in 2022.
More hesitant outlook
The MCH Group remains optimistic for 2024 and expects further improvements. In addition, "everything possible will be done to reach the break-even point", as stated in the communiqué.
The management of the MCH Group has thus backtracked on earlier statements. Previously, it had definitely expected to be back in the black in 2024. The group has been making losses since 2017, as it had already been overrun by the transformation process in the exhibition business before the coronavirus pandemic. (SDA)
