Group Development in Fiscal Year 2017
The sales and earnings development of the Highlight Event and Entertainment Group (HLEE Group) in the past fiscal year was characterized by the initial full consolidation of Highlight Communications AG, which took place as of September 28, 2017.
- Consolidated sales climbed from CHF 2.8 million in the previous year to CHF 137.9 million in the reporting year.
- Consolidated net profit amounted to CHF 9.5 million compared with the prior year at CHF -3.0 million.
- Equity increased from CHF 24.7 million in the previous year to CHF 511.7 million in the reporting year.
Despite increased operating expenses for the Group due to the start of the World Boxing Super Series and additional expenses for legal and consulting costs from the successful capital increases, consolidated net profit benefited from additional income due to the initial consolidation of Highlight Communications AG and effects from the first-time valuation of the acquisition of the 25% share in Highlight Communications AG.
Consolidated total assets were also significantly higher than in the previous year at CHF 926.2 million (CHF 45.0 million). This growth is due to both the capital increases and the inclusion of Highlight Communications AG in consolidation.
The detailed 2017 annual report is available at http://www.hlee.ch/en/Interim-reports.htm.
Highlight Event and Entertainment AG
4133 Pratteln, Switzerland
Tel.: +41 41 226 05 97
Fax: +41 41 226 05 98