C. ECONOMIC SITUATION
1. DEVELOPMENT OF REVENUE
HMC posted revenue of EUR 62.0 million in 2015. Total
revenue in 2015 was distributed as follows among the sales
divisions: Hamburg Messe: EUR 18.9 million; CCH: EUR 9.2
million: Guest Events: EUR 11.8 million; Foreign Business:
EUR 9.6 million; and Services: EUR 9.6 million. Revenue from
the Property division totalled EUR 2.9 million.
2. PROFIT/LOSS FOR THE YEAR
HMC posted a loss of around EUR - 33.2 million for the 2015
financial year before loss absorption by HGV. In spite of the
around 12.3 percent increase in revenue, the loss for the year
was on a level with the 2013 reference year. This was mainly
due to higher expenses for staff and interest as well as to
additional business abroad, which was generated with a nar-
rower margin.
3. EMPLOYEES
As of the close of 2015, HMC had 283 employees (2014:
277); of these, 256 had permanent contracts of employment
while 27 had fixed-term contracts (2014: 255 permanent and
22 fixed-term). Expressed in FTE’s, HMC had 257 employees
as of the close of the year (2014: 250). HMC also made 21
training slots available for future event, office and IT special-
ists, event technology specialists and Bachelor of Arts (BA)
students.
HMC is keen to increase the share of women in the manage-
ment levels below Executive Management. As at 31 Decem-
ber 2015, this share was 37 percent and is expected to rise to
40 percent by 2017.
4. NET ASSETS
In the year under review, total assets decreased by EUR 1.7
million to EUR 114.8 million, as a result of which the equity
ratio increased from 10.0 percent to 10.2 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.
51
HAMBURG MESSE UND CONGRESS Annual Report 2015