MCH Group: Substantial loss
MCH Group

Substantial loss

Photo: MCH Group

Capital increases, the entry of Lupa Systems as a shareholder and the renewal of the board of directors: The MCH Group laid the foundation in financial year 2020 for the path to a successful future, as the Swiss group headquartered in Basel reports. In parallel to the operational measures for overcoming the COVID-19 situation, numerous innovative projects were developed and successfully implemented. It describes as "remarkable" sales of CHF 188 million in financial year 2020, even though it is almost 60 percent down on the prior year's figure. The EBITDA is CHF -45.1 million (previous year CHF 22.1 million), the EBIT is CHF -66.1 million (previous year CHF -2.7 million). The loss for the year amounts to CHF -72.2 million (previous year CHF -9.9 million). In view of the situation, payment of a dividend will be waived. The management of the MCH Group does not expect the general conditions to improve until the second half of 2021, with a return to normal in 2022. For this reason, a substantial loss is forecast for financial year 2021, too.

Attainment of the break-event point will therefore shift from the 2021 financial year to the 2022 financial year, when the 2019 level will be targeted. "We believe in the future of live events, especially when these are combined with digital elements", says Group CEO Beat Zwahlen."Over the past year, we have created a sound basis for emerging stronger from the COVID-19 situation and translating our highly promising development potential into continuous growth and stable profitability."
„We believe in the future of live events, especially when these are combined with digital elements.“
Beat Zwahlen, CEO MCH Group
www.mch-group.com/embarking-on-the-future
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