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Koelnmesse: return to the black in 2012

Chief Financial Officer Herbert Marner had reckoned on sales of € 195 million for 2007, the final consolidated figure came in at € 200.6 m. Kölnmesse's latest stats were recently presented by the exhibition company's management following the introduction of Gerald Böse as its new Chief Executive Officer. Officials in Cologne are particularly pleased with the growth in the operating result. Exhibitions in the city and abroad boosted revenues versus the respective previous events by an average of more than 8 %. Even so, Kölnmesse still reports a loss for 2007. The € 11.2 m deficit is explained by rental payments on the northern site, which were due in full for the first time last year. Earnings before interest, taxes and depreciation (EBITDA) are comfortably in the black, at € 7.3 m. Based on EBITDA the return on sales works out at 3.6 %. At the end of the year the group's equity ratio stood at 49.8 %. There are altogether 76 events on this year's programme, including nine premieres. One of these, spoga horse, got off to a very good start February in Cologne. The exhibition company's international activities continue to focus on Asia, where most of the current 29 international events take place. For 2008 Kölnmesse is projecting a loss on group sales of € 190 m. It does not expect to turn in a profit in the coming years either, but is looking to move back into the black come 2012. (ank) www.koelnmesse.com

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