Messe Düsseldorf reviews 2020: Profit off the...
Messe Düsseldorf reviews 2020

Profit off the cards

The Messe Düsseldorf group reports sales of EUR 131.5 million for the corona year 2020. That is 65.3 percent less than in the prior year (EUR 378.5 million) due to the effects of the pandemic. The figures are similar for Messe Düsseldorf GmbH, which, at EUR 118.9 million, reports 65.4 percent lower turnover than in 2019 (EUR 344 million). Profit is off the cards: The company reports a deficit of 64.7 million. In 2019, the profit was EUR 70.6 million. Despite this development, Messe Düsseldorf GmbH at EUR 364.3 million continues to enjoy a high equity position (prior year EUR 448 million). The equity ratio at 54.8 percent (prior year 64 percent) remains at a high level. Although the company has created a financial margin for itself, which will help it to cope with the current situation, it is not enough because, for 2021 Messe Düsseldorf GmbH forecasts sales of EUR 107.3 million and a loss of EUR 77 million. The central aim of the management is to secure liquidity, Bernhard J. Stempfle, managing director for finance and infrastructure, explained. For the employees, this means: expansion of short-time work initially to the end of March, suspension of new hires and vacancy filling, fix-term contracts will expire. Partial retirement schemes are being discussed for the long term. Furthermore, other planned budgets as well as investment and maintenance will be cut back. In 2020, investments stood at EUR 35.7 million (planned EUR 70 million) and maintenance costs were EUR 10.2 million. 2021 will see investment total EUR 10.5 million and maintenance EUR 7.6 million.