C. ECONOMIC SITUATION
1. DEVELOPMENT OF REVENUE
HMC posted revenue of EUR 99.8 million in 2014. Total rev-
enue in 2014 was distributed as follows among the sales
divisions: Hamburg Messe: EUR 49.5 million; CCH: EUR 10.6
million; Guest Events: EUR 9.3 million; Foreign Business:
EUR 7.4 million; and Services: EUR 19.5 million. Revenue
from the Property division was EUR 3.6 million.
2. PROFIT / LOSS FOR THE YEAR
HMC posted a loss of around EUR 3.9 million for the 2014
financial year before loss absorption by HGV. This improve-
ment compared with the 2012 reference year is primarily due
to the higher gross profit resulting from an increase in rev-
enue of around 5.7 percent with a simultaneous decrease in
expenses for the implementation of trade fairs, exhibitions,
conventions and events of approximately 9.5 percent. The
decrease in expenses compared with the reference year is
mainly attributable to EXPO 2012 in Korea.
3. EMPLOYEES
As of the close of 2014, HMC had 277 employees (2013:
266); of these, 255 had permanent contracts of employment
while 22 had fixed-term contracts (2013: 241 unlimited and
25 limited). Expressed in FTE’s, HMC had 250 employees as
of the close of the year (2013: 244). HMC also made 21 training
slots available for future event, office and IT specialists, event
technology specialists and Bachelor of Arts (BA) students.
4. NET ASSETS
In the year under review, total assets increased by EUR 3.0
million to EUR 116.5 million, as a result of which the equity
ratio decreased from 10.3 percent to 10.0 percent.
5. FINANCIAL POSITION
The company has a control and profit transfer agreement
as well as a Group clearing agreement with HGV, its parent,
which ensures its liquidity at all times.
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Hamburg Messe und Congress | Annual Report 2014
MANAGEMENT REPORT