Quarterly figures - Increase in sales puts Messe München in the black
According to projections, Messe München is closing the year with a positive annual result. The annual result is not - as feared - in the red at 41 million euros, but rather at a plus of 5.6 million euros and thus around 47 million euros above expectations, the company announced on Thursday. According to the calculations, turnover should amount to 349.6 million euros, which corresponds to a plus of 45 million euros. Earnings before interest, taxes, depreciation and amortization increased by 46 million to 62.6 million euros.
After the years of the coronavirus pandemic, Messe Frankfurt has calculated its finances for 2023 with caution, it said. However, the trade fair and congress business in Munich was then back in full swing. "Instead of the expected deficit, 2023 exceeded all expectations," stated Managing Directors Reinhard Pfeiffer and Stefan Rummel.
Although not all events have yet reached the pre-corona figures, some have already set new records, such as the f.re.e, transport logistic and BAU trade fairs. In total, around two million people visited the more than 100 events at the exhibition center.
The reasons for the increase in turnover included lower costs due to the energy price brake and the sale of shares in the stand construction subsidiary meplan. The decision to concentrate on the core business was the right one, said the managing directors. The company plans to invest in a more powerful photovoltaic system and energy-saving LED lighting.
Munich Trade Fairs press release
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Source: www.stern.de
