Notes to the Annual Accounts
1. Principles
1.1 General Information
The present annual accounts of MCH Group Ltd. with head office in Basel have been drawn up in accordance with the Swiss commercial accounting and financial reporting legislation (Title 32 of the Swiss Code of Obligations). The main accounting and valuation principles applied that are not prescribed by law are described below.
1.2 Valuation principles
Assets are valued at no more than acquisition cost. All assets and liabilities denoted in foreign currencies are translated at the exchange rates applicable on the balance sheet date. Income and expenses denominated in foreign currencies and all transactions in foreign currencies are translated at the exchange rates applicable on the individual transaction dates. The resulting exchange rate differences are included on the income statement. Any unrealised exchange gains are deferred and stated under “Accrued expenses and deferred income“.
1.3 Non-inclusion of a cash flow statement and further details in the notes
MCH Group Ltd. draws up group accounts on the basis of a recognised accounting standard (Swiss GAAP FER). In accordance with the statutory provisions, it has thus dispensed with the provision of details of interest-bearing liabilities and auditing fees and also with the presentation of a cash flow statement in the notes to the present annual accounts.
2. Disclosures on balance sheet and income statement positions
2.1 Investments
The direct and principal indirect holdings are listed in the notes to the group accounts.
Financial Report / Notes to the Group Accounts / Investments
The capital share corresponds to the voting share.
At the extraordinary General Meetings of MCH Swiss Exhibition (Basel) Ltd. of 15 January 2018 and 07 March 2018, the payment of a dividend of CHF 4,000,000 and CHF 1,500,000 was decided on. These dividends are already entered as dividend income in the present annual accounts and stated under other current receivables from holdings.
2.2 Share capital
As at 31.12.2017, the share capital is divided into 6,006,575 registered shares with a nominal value of CHF 10.00 per share (unchanged compared with the previous year).
3. Further details
3.1 Full-time employees
The number of full-time employees averaged over the year was between 10 and 50 in the reporting year and the previous year.
3.2 Sureties provided for liabilities of third parties
To ensure the obligations taken on by Expomobilia AG in the context of a work contract, MCH Group Ltd. provided guarantees amounting to CHF 3.0 million on 31.12.2017 (previous year CHF 3.0 million).
3.3 Contingent liabilities
As the parent company, MCH Group Ltd. guarantees the fulfilment of the contracts (investment contributions and loans earmarked for a specific purpose) with the public-sector entities (the Cantons of Basel-Stadt, Basel-Landschaft and Zurich and also the City of Zurich) by means of an abstract payment guarantee.
MCH Group Ltd. is jointly and severally liable with MCH Swiss Exhibition (Basel) Ltd. for a credit facility of CHF 100.0 million, which was taken up for a sum of CHF 40 million (previous year CHF 40 million) by MCH Swiss Exhibition (Basel) Ltd. on the balance sheet date.
3.4 Maximum dividend payment
The financing concept with the public-sector entities (the Cantons of Basel-Stadt, Basel-Landschaft and Zurich and also the City of Zurich) provides for a maximum dividend payment of 5% over the full financing term.
3.5 Key shareholders
At the end of 2017, 2,936 (previous year 3,185) registered shareholders were entered in the share register.
Shareholding 31.12. 2017 (31.12.2016):
- Canton Basel-Stadt: 33.5% (33.5%)
- Canton Basel-Landschaft: 7.8% (7.8%)
- LB (Swiss) Investment AG: 9.6% (9.4%) 1)
- Canton of Zurich: 4.0% (4.0%)
- City of Zurich: 3.7% (3.7%)
1) Entered in the “Shareholders with voting rights” share register with 300,328 shares (5%)
3.7 Disclosure of participation rights
The participation rights of members of the Board of Directors and the Executive Board are shown in the Annual Report.
Annual Report / Board of Directors
Annual Report / Executive Board
