Momentum for the turnaround: MCH Group reaffirms positive business development
For the second consecutive time, MCH Group has reported a positive half-year profit of
CHF 3.6 million, following significant losses from 2019 to 2022. Equally impressive is the group's ability to boost operating income to CHF 236.6 million, reflecting robust growth compared to the previous year. EBITDA also developed positively, reaching CHF 15.3 million, which corresponds to an organic growth of CHF 0.9 million compared to the previous year. After several challenging years, these results mark the first significant progress in the turnaround process, which aims to establish long-term financial health as a foundation for sustainable business success and substantial growth. The focus for the second half of the year is on achieving a break-even net result.
Consolidated key figures at a glance (figures for the prior-year period 2023 in brackets):
- Operating income: CHF 236.6 million (CHF 218.4 m, incl. CHF 4.5 m one-off effects)
- EBITDA: CHF 15.3 million (CHF 20.0 m, incl. CHF 5.5 m one-off effects)
- Net profit: CHF 3.6 million (CHF 4.7 m, incl. CHF 5.5 m one-off effects)
Initial progress of the turnaround: stabilization, efficiency, cost reduction
The first half of 2024 was marked by decisive progress: MCH Group continued its turnaround and invested in stabilizing its business activities. The MCH Strategy 2030, which has been redefined together with the Board of Directors of the MCH Group, serves as a benchmark for the turnaround. In the current phase, the company is focusing to optimize efficiency and reducing the cost base. To achieve this, initial measures have been taken worldwide to optimize the organization, systems and processes and save costs. This will lay the foundations for significant growth and sustainable success moving forward.
Outlook for the second half of 2024
The priority for the second half of the year is to achieve a break-even net result. The key objectives include solidifying revenues and intensifying our efforts to enhance profitability.
Revenue growth is expected to be moderate, largely due to seasonal fluctuations in our own exhibition business in Switzerland. This should be balanced by a strong performance in the USA and Middle East through our Live Marketing Solutions division and successful Art Basel shows in Paris and Miami Beach. The EBITDA margin will be stable compared to a negative EBITDA in 2023.
About MCH Group
The MCH Group, headquartered in Basel (Switzerland), is a globally active experience marketing company with a comprehensive network of services for global clients. Its core business includes unique community platforms such as the Art Basel shows in Basel, Hong Kong, Paris and Miami Beach, as well as major national exhibitions such as Swissbau and Giardina. The Live Marketing Solutions division with the brands MCH Global, MC2 and Expomobilia offers individual experience marketing solutions from strategy to creation and implementation. The MCH Group also operates the Basel Exhibition and Congress Center and Messe Zürich. The company employs over 800 people, around half of them in Switzerland and the USA. In the 2023 financial year, the group generated consolidated sales of around CHF 394 million.
Half-year report 2024:https://www.mch-group.com/en/investors/reports/
Ad hoc announcements:https://www.mch-group.com/en/investors/ad-hoc-announcements/
Media releases:https://www.mch-group.com/en/news/
Kontakt
MCH Group Ltd.
Lucia Uebersax
Group Media & Public Affairs Manager
+41 58 206 22 43
lucia.uebersax@mch-group.com
