Swiss Exhibition has held its ground well

As expected, the consolidated group result of MCH Swiss Exhibition Ltd. (Swiss Exhibition) in 2002 was worse than in the previous year due to the periodicity of certain fairs and the effects of the recessionary economic climate. Nevertheless, as Chairman of the Board Robert A. Jeker emphasized, it can be said that last year's objectives were mostly achieved and "the result can be described as satisfactory in view of the market environment."

 

The consolidated results of Swiss Exhibition in 2002 show a cash flow of CHF 30.2m (previous year: CHF 33m) with an income of CHF 181.2m (CHF 189.4m) and expenditure before depreciation of CHF 151.0m (CHF 156.4m). With depreciation of CHF 25.6m (CHF 23.2m), the profit stands at CHF 4.6m (CHF 9.8m). Investments made lay in the region of CHF 14.3m. The shareholders' meeting will be asked to propose payment of a dividend of CHF 4.50 per share.

 

 

During 2002 Swiss Exhibition organized and handled a total of 21 own exhibitions and 25 guest exhibitions, with a total of 15,321 exhibiting companies, a net exhibition area of 539,650 square metres and 1,540,259 visitors.

 

The 21 own exhibitions of Swiss Exhibition recorded a total of 9,094 exhibiting companies (about 60% of the total number of exhibitors), 1,117,876 visitors (over 75% of all exhibition visitors) and 357,508 square metres of net exhibition area (a good 65% of the total net exhibition area).

 

Since the programme of events is not identical from one year to the next, direct comparisons with the previous year's figures are of limited information value. The calendar of own exhibitions is such, that the even-numbered business years are weaker than the uneven years because of the periodicity issue. During the year under review, the total number of exhibitors was 1.2% below the exhibitor total recorded during the previous year. The net stand area occupied was down 15.3% on the preceding year and the number of visitors was 10.0% below the figure for 2001.

 

During 2002, the exhibition halls in Basel also hosted 15 other events (those in Zurich 28), which, taken as a whole, received around 160,000 visitors.

 

Last year, the Convention Center Basel was the venue for 22 congresses - 19 of them with accompanying exhibitions - and 304 additional events numbering 139,631 participants. A total of 125,000 visitors attended the 150 performances staged in the Musical Theater Basel during 2002.

 

 

The first "full year" of Swiss Exhibition, which was formed in summer 2001 through the merger of the former Messe Basel and Messe Zurich, has shown the importance of this strategic step in strengthening competitiveness and also the great value of the synergistic potentials triggered by this amalgamation. The streamlining and further development of the portfolio of own fairs - a process which was accelerated by the merger - is now well underway. It proved possible last year to implement some initial conceptual realignment (inter alia in the fields of automation technology, process technology, research and development). Other moves have progressed to such a stage that they will be ready for introduction either this year or in 2004 (for example in the construction and logistics sectors).

 

In addition, Swiss Exhibition has succeeded in further strengthening the position of its internationally leading events. Important steps have been achieved with the successful premiere of Art Basel Miami Beach and the incorporation of the Zurich exhibition venue into the concept of the World Watch and Jewellery Show. These help to reaffirm the leading role that Swiss Exhibition plays worldwide in these exhibition sectors. Regrettably, BASELWORLD 2003 was greatly affected by the measures decreed by the Swiss government in connection with the risk of the spread of the serious lung disease (SARS).

 

 

The share price of Swiss Exhibition at the end of 2002 was CHF 179.50. Corresponding to the general slump of stock markets, the share price went down by 16.5% in the year 2002 and the SPI fell by as much as 25.4% over the same period of time. Due to its relatively low market capitalization and the low tradable and traded volume as well as the circumstances of its special status as the only quoted exhibition company, Swiss Exhibition plays a minor part on the SWX Swiss Exchange. Thanks to its high-quality products and secure infrastructural assets, however, Swiss Exhibition is a stable company characterized by solid values.

 

 

Dr. Hansjörg Frei (Winterthur) will resign as a member of the Board of Directors at the general meeting of shareholders on 5 May 2003. As his successor, the Board of Directors proposes René C. Jäggi (Binningen) for election to the Board of Directors.

 

 

As a matter of course, the Board of Directors and the Group Management of MCH Swiss Exhibition Ltd. fulfil the requirements of corporate governance as formulated in the appropriate guidelines of the SWX Swiss Exchange. Swiss Exhibition makes a clear separation between the Board of Directors as the highest management body and Group Management, which bears responsibility for operative management.

 

An Audit Committee within the Board of Directors analyses audit results on behalf of the Board of Directors and makes any recommendations. A Nomination and Compensation Committee prepares important decisions regarding personnel and sets the compensation and salaries of Board members, of the members of Group Management and of other levels of management.

 

 

The sum of all compensations paid to the eleven non-executive members of the Board of Directors in the business year 2002 was CHF 422,000. The sum of all compensations paid to the seven members of Group Management during the business year 2002 was CHF 2,202,000.

 

 

 

 

 

 

 

This media release and the Annual Report 2002 can be called up on the website www.messe.ch (under "News" and "Investor Relations" respectively).

 

 

Media contact: Christian Jecker, Corporate Communication,
Tel. +41 58 206 22 52, christian.jecker@messe.ch

 

 

The media release (including table) can be downloaded from the following link: