9. Investments
Investments in subsidiaries |
Location |
Activity |
|
Share capital as per 31.12.2017 in 1000 |
Holding as per 31.12.2017 in % |
Share capital as per 31.12.2016 in 1000 |
Holding as per 31.12.2016 in % |
||
MCH Swiss Exhibition (Basel) Ltd. |
Basel |
Exhibitions and congresses |
A |
CHF |
40 000 |
100.0 |
CHF |
40 000 |
100.0 |
MCH Swiss Exhibition (Zurich) Ltd. |
Zurich |
Exhibitions and congresses |
A |
CHF |
13 720 |
100.0 |
CHF |
13 720 |
100.0 |
MCH Beaulieu Lausanne SA |
Lausanne |
Exhibitions |
A |
CHF |
100 |
100.0 |
CHF |
100 |
100.0 |
Winkler Livecom AG |
Wohlen |
Event technology |
A |
CHF |
100 |
100.0 |
CHF |
100 |
100.0 |
Expomobilia AG |
Effretikon |
Stand construction |
A |
CHF |
300 |
100.0 |
CHF |
300 |
100.0 |
Techno Fot AG |
Effretikon |
Digital printing |
D |
CHF |
400 |
100.0 |
CHF |
400 |
100.0 |
Rufener events Ltd. |
Zurich |
Event management |
A |
CHF |
100 |
100.0 |
CHF |
100 |
100.0 |
Oceansalt LLC |
Zurich |
Design |
E |
CHF |
20 |
100.0 |
CHF |
20 |
100.0 |
MCH Global AG 1) |
Basel |
Live Marketing Solutions |
A |
CHF |
100 |
100.0 |
CHF |
50 |
100.0 |
Art, Kunstmesse AG, in Basel |
Basel |
Trademark company |
B |
CHF |
50 |
100.0 |
CHF |
50 |
100.0 |
Swisstech Fachmesse AG |
Basel |
Trademark company |
B |
CHF |
50 |
100.0 |
CHF |
50 |
100.0 |
Natura, Internationale Fachmesse und Kongresse AG |
Basel |
Trademark company |
B |
CHF |
50 |
100.0 |
CHF |
50 |
100.0 |
Ineltec Fachmesse AG |
Basel |
Trademark company |
B |
CHF |
50 |
100.0 |
CHF |
50 |
100.0 |
Swissdata, Fachmesse für Datenverarbeitung AG |
Basel |
Trademark company |
B |
CHF |
50 |
100.0 |
CHF |
50 |
100.0 |
Orbit Fachmessen AG |
Basel |
Trademark company |
B |
CHF |
100 |
100.0 |
CHF |
100 |
100.0 |
Esthetica SA |
Lausanne |
Trademark company |
F |
CHF |
100 |
100.0 |
CHF |
100 |
100.0 |
Exhibit & More AG |
Fällanden |
Exhibitions |
G |
CHF |
50 |
100.0 |
CHF |
50 |
100.0 |
UAI Holding AG |
Fällanden |
Subholding |
B |
CHF |
100 |
100.0 |
CHF |
100 |
100.0 |
Design Miami Basel AG 2) |
Basel |
Exhibitions |
B |
CHF |
500 |
50.0 |
CHF |
500 |
50.0 |
Art Basel U.S. Corp. |
Miami |
Exhibitions |
B |
USD |
100 |
100.0 |
USD |
100 |
100.0 |
Asian Art Fairs Ltd. |
Hong Kong |
Exhibitions |
B |
HKD |
1 |
100.0 |
HKD |
1 |
100.0 |
Reflection Marketing AG |
Wallisellen |
Strategic Marketing Consulting |
D |
CHF |
100 |
100.0 |
CHF |
100 |
100.0 |
Seventh Plane Networks Pvt. Ltd. |
New Delhi |
Exhibitions |
B |
INR |
300 |
60.3 |
INR |
300 |
60.3 |
Expomobilia MCH Global Shanghai Ltd. |
Shanghai |
Stand construction |
D |
RMB |
1 360 |
100.0 |
RMB |
1 360 |
100.0 |
MCH US Corp. |
Delaware |
Live Marketing Solutions |
A |
USD |
30 000 |
100.0 |
USD |
- |
- |
Creative Management Services, Inc. |
Missouri |
Live Marketing Solutions |
H |
USD |
0 |
98.0 |
USD |
- |
- |
Creative Management Services, LLC |
Delaware |
Live Marketing Solutions |
I |
USD |
45 |
98.0 |
USD |
- |
- |
Creative Management Services II, LLC |
Missouri |
Live Marketing Solutions |
K |
USD |
0 |
98.0 |
USD |
- |
- |
Creative Management Holding GmbH |
Hilden |
Live Marketing Solutions |
K |
EUR |
25 |
98.0 |
EUR |
- |
- |
MC2 Europe GmbH 3) |
Hilden |
Live Marketing Solutions |
L |
EUR |
200 |
49.0 |
EUR |
- |
- |
Masterpiece London Ltd. |
London |
Exhibitions |
B |
GPB |
19 |
67.5 |
GBP |
- |
- |
|
|
|
|
|
|
|
|
||
Investments in associated companies |
Location |
Activity |
|
Share capital as per 31.12.2017 in 1000 |
Holding as per 31.12.2017 in % |
Share capital as per 31.12.2016 in 1000 |
Holding as per 31.12.2016 in % |
||
Parkhaus Messe Zürich AG |
Zurich |
Car parking services |
C |
CHF |
5 000 |
20.0 |
CHF |
5 000 |
20.0 |
metron Vilshofen GmbH |
Vilshofen |
Stand construction |
A |
EUR |
140 |
20.0 |
EUR |
140 |
20.0 |
art.fair International GmbH |
Cologne |
Exhibitions |
B |
EUR |
25 |
25.1 |
EUR |
- |
- |
|
|
|
|
|
|
|
|
|
|
Minority investments |
Location |
Activity |
|
Share capital as per 31.12.2016 in 1000 |
Holding as per 31.12.2016 in % |
Share capital as per 31.12.2015 in 1000 |
Holding as per 31.12.2015 in % |
||
Design Miami II LLC |
Miami |
Exhibitions |
B |
USD |
430 |
10.0 |
USD |
430 |
10.0 |
1) Former trademark company Igeho, Internationale Fachmesse AG, transferred to MCH Group Ltd. by MCH Swiss Exhibition (Basel) Ltd. in 2016.
2) The Design Miami Basel AG company is controlled by MCH Swiss Exhibition (Basel) Ltd.
3) The company MC2Europe GmbH is controlled by Creative Management Holding GmbH on the basis of a contractual agreement.
A Company directly owned by MCH Group Ltd.
B Company owned by MCH Swiss Exhibition (Basel) Ltd.
C Company owned by MCH Swiss Exhibition (Zurich) Ltd.
D Company owned by Expomobilia AG.
E Company owned by Rufener events Ltd.
F Company owned by MCH Beaulieu Lausanne SA.
G UAI Holding AG, which is wholly-owned by MCH Swiss Exhibition (Basel) Ltd., has a 60% holding in Exhibit & More AG. The remaining 40% of the shares in Exhibit & More AG are held directly by MCH Swiss Exhibition (Basel) Ltd.
H Company held by MCH US Corp.
J Company held by Creative Management Services, Inc.
K Company held by Creative Management Services, LLC.
L Company held by Creative Management Holding GmbH. The companies under letters H to L belong to the MC2 subgroup.
The book value of the investments consolidated by the equity method is made up as follows:
Composition |
31.12.2017 CHF 1000 |
31.12.2016 CHF 1000 |
Parkhaus Messe Zürich AG |
1 711 |
1 708 |
metron Vilshofen GmbH |
166 |
613 |
art.fair International GmbH |
69 |
- |
Total |
1 946 |
2 321 |
Change in scope of consolidation
On 1 August 2016, MCH Swiss Exhibition (Basel) Ltd. acquired a majority holding of 60.3% in Seventh Plane Networks Pvt. Ltd., New Delhi, India, and took over control of the company at the same time. This was therefore the date taken for initial consolidation. Seventh Plane Networks Pvt. Ltd. organises the annual India Art Fair in New Delhi. As per the date of acquisition in the 2016 business year, Seventh Plane Networks Pvt. Ltd., New Delhi, India, had cash and cash equivalents of CHF 0.2 million, other current receivables of CHF 1.4 million, fixed assets of CHF 0.1 million and liabilities of CHF 1.1 million. The net assets acquired, valued at their market value, are thus CHF 0.6 million as per 1 August 2016. MCH Swiss Exhibition (Basel) Ltd. is entitled to acquire further shares in Seventh Plane Networks Pvt. Ltd.
On 1 January 2017, MCH Swiss Exhibition (Basel) Ltd. acquired a 25.1% share in the capital of art.fair International GmbH, Cologne (Germany). art.fair International GmbH stages the annual ART DÜSSELDORF art fair. MCH Swiss Exhibition (Basel) Ltd. is entitled to successively increase its minority holding.
On 30 April 2017, MCH US Corp. acquired 100% of the shares in MC2, New York (USA) and, at the same time, took over control of the company. In a further step, 2% of the shares were sold to the local management. As per the date of acquisition, MC2 had cash and cash equivalents of CHF 1.3 million, other current receivables of CHF 38.4 million, fixed assets of CHF 4.0 million and liabilities of CHF 23.2 million. The net assets acquired, valued at their market value, are thus CHF 20.5 million as per 30 April 2017. MCH Group Ltd. has a repurchasing right permitting it, as of 30 April 2020, to buy back, indirectly via the intermediate company, the shares in Creative Management Services LLC that are held by the management. MCH Group Ltd. can similarly be obliged by anyone on the management to buy back their share in Creative Management Services LLC indirectly via the intermediate company.
MCH Swiss Exhibition (Basel) Ltd. acquired 67.5% of the shares in Masterpiece London Ltd. on 30 November 2017 and, at the same time, took over control of the company. As per the date of acquisition, Masterpiece London had cash and cash equivalents of CHF 0.5 million, other current receivables of CHF 0.8 million, fixed assets of CHF 0.0 million and liabilities of CHF 0.7 million. The net assets acquired, valued at the market value, are thus CHF 0.6 million as per 30 November 2017. MCH Swiss Exhibition (Basel) Ltd. is entitled to acquire the remaining shares following the registration of the 2023 audited annual accounts for Masterpiece London Ltd.