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All in all, liabilities were EUR 6.6 million higher.
Liabilities to financial institutions were reduced in
the amount of the scheduled loan repayment,
EUR 4.2 million. Liabilities due to customer advance
payments received for purchase orders were EUR 8.9
million lower as a result of cyclical effects. Trade
liabilities were also EUR 0.6 million higher as a result
of cyclical effects. Other liabilities were EUR 1.0
million, especially due to the fact that future
payments for cloud services were recognised as
liabilities as at 31 December 2015.
The prepaid/deferred item consists mainly of
payments made by the lessor of the “Messehoch-
haus” to Koelnmesse GmbH as part of the concluded
renegotiation of the lease agreements. It was subject
to scheduled reversal at EUR 0.3 million over the
term of the lease agreement.
Financial situation:
At year’s end 2015, cash and cash equivalents of
Koelnmesse GmbH stood at EUR 119.8 million,
compared with EUR 89.6 million in the previous
year. The existing long-term loan was repaid
according to plan in the amount of EUR 4.2 million.
Koelnmesse GmbH was in a position to meet its
payment obligations at all times during the year
under report.
Results:
Net sales at Koelnmesse GmbH for the eventfilled
fiscal year of 2015 total to EUR 284.3 million
(previous year: EUR 198.7 million). The year-over-
year increase is the mainly the result of different
trade fair cycles. Overall, growth in price and
quantity was realised compared to the respective
prior events. The budgeted sales figure of EUR 275
million was significantly outperformed.
Other operating income decreased by EUR 9.2
million, following one-off realisation in the previous
year of EUR 8.0 million of purchase-price proceeds
for the Rheinhallen. The percentage increase in
event-related expenses was less steep than the
increase in sales; this in turn led to higher contribu-
tion margins. This owes especially to the fixed costs
contained as a component of expenses, standing at
EUR 22.7 million as a result of the still-high,
contractually agreed rental expenses for the
Northern Halls and Congress Centre North.
Personnel expenses increased by EUR 3.4% or EUR
1.3 million. The additional expense owing to salary
increases and a 14-person increase in staff size are
compare with offsetting effects of changes in
personnel provisions. Koelnmesse GmbH received
income in the amount of EUR 7.2 million from a
profit-transfer from Koelnmesse Ausstellungen
GmbH.
Earnings before interest, taxes, depreciation, and
amortisation (EBITDA) including income through
profit transfers, total to EUR 58.2 million (previous
year: EUR 12.5 million). There is income tax expense
resulting from the taxes for the 2015 fiscal year, as
well as in the context of an ongoing audit. Net profit
totals to EUR 34.1 million on the year. It is thus
approx. EUR 15 million higher than forecast.
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