The consolidated result made by Swiss Exhibition from 1 January to 30 June 2002 amounts to CHF 108.5m (CHF 118.1m in previous year). The consolidated half-year profits are CHF 7m (CHF 13.1m in previous year).
The direct year-on-year comparison is only of limited significance, as the annual programme of events varies. Compared to the exhibition-packed year 2001, 2002 will be a less busy year for exhibitions due to the periodicity of events. Moreover, when considering the first-half result, it must be kept in mind that there are strong seasonal fluctuations between the first and second half-year periods. While the first half is positively influenced by a schedule packed with (high-turnover) exhibitions, the second half includes the summer months with fewer events and more maintenance and repair costs.
The result expected for the second half, therefore, cannot be extrapolated from the first-half figures. Given the circumstances, and based on the facts that several cost-intensive new events will be launched this autumn ("go. automation days", "REACH for process solutions" and "r+d in life sciences") and that changes in the IT trade will also make their mark on Orbit/Comdex Europe, output and profit are expected to fall in the second half of 2002.
Despite the positive result for the first six months, a slightly lower operating result is expected for the overall business year 2002 in comparison to the first half.
Basel, 30. August 2002