Koelnmesse is on the road back to profitability. We have coped with massive structural changes and thoroughly reorganised our company. As a result, we are accomplishing the turnaround on our own,? said Gerald Böse, President and Chief Executive Officer of Koelnmesse GmbH, at the July 10 Annual Press Conference in Cologne. The company?s turnover and earnings were once again above budget. At ? 227 million, turnover was more than ? 3 million higher than forecast in 2012. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at ? 11.2 million. Although Koelnmesse again posted a loss in 2012, the net shortfall of ? 10.3 million was only half that expected. Koelnmesse expects to deliver record turnover in the region of ? 270 million in 2013, as well as its first profit in years. According to Böse, investments are needed in the exhibition grounds and their immediate surroundings. Koelnmesse will also continue to support plans for a multipurpose congress centre with capacity for 3,000 people. ?We believe such a centre is necessary in order to attract more events of this magnitude to Cologne,? Böse said. (ank)www.koelnmesse.com |
