manaGEmEnt REpoRt and GRoUp ... - Messe München International

ANNUAL REPORT 2011
EXECUTIVE SUMMARY

KEY FIGURES
2011
1) Unless otherwise stated, figures relate to all events at Messe München (including ICM –
Internationals Congress Center München), at the Poing Building Center and at the MOC
Veranstaltungscenter München
2) MMG and GHM events only, excluding other third-party events (guest events)
3) 129 guest events at Messe München, 125 at the MOC Veranstaltungscenter München
4) Hall space and open-air space
5) Ratio of occupied total hall space (gross) and hall capacity of Messe München and the
MOC Veranstaltungscenter München
6) Rented space (hall space and outdoor site) including approximately five percent special
exhibition space; excluding guest events and the Poing Building Center
7) Annual average
2011 1) 2010 2009 2008
Available hall space, Messe München m2 180,000 180,000 180,000 180,000
Available open-air space, Messe München m2 Available exhibition space,
360,000 360,000 360,000 360,000
MOC Veranstaltungscenter München m2 37,400 37,400 37,400 37,400
Trade fairs and exhibitions 2) 18 22 25 21
Guest events 254 3) 241 270 303
Gross space (usage) 4) m2 2,163,916 2,911,502 2,195,356 2,448,696
Turnover ratio 5) 11 13 11 12
Net space (rented) 6) m 2 619,022 1,094,351 711,087 726,488
Total number of exhibitors 31,379 37,895 32,906 34,031
of which, from outside Germany 6,453 9,216 6,983 7,249
Additionally represented companies 174 587 364 732
Total number of visitors 1,753,776 2,364,322 1,804,113 1,817,844
MMG sales (EUR millions) 189.3 257.9 193.2 200.7
Group sales (EUR millions) 222.5 301.8 215.2 243.3
MMG employees 7) 544 565 558 535
Group employees 7) 737 756 732 708
Due to differences in the number and structure of events, annual figures are only comparable to a limited extent.
IndEx oF contEntS
AnnuAl RepoRt 2011
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annUal REpoRt
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Key Figures 2011
Encouraging Prospects: Foreword by the Supervisory Board
Competing with the Best. Editorial by the Management
Milestones in 2011
Group Structure
Results of the Trade Fair Events in 2011
Management Report and Group Management Report 2011
Consolidated Balance Sheet
Consolidated Profit and Loss Account
Imprint

enCouRAGInG
pRoSpeCtS
FoREwoRd BY tHE SUpERVISoRY BoaRd
04
Standing still is like taking a step backward: Nowhere else does this formula apply than in the
global business arena. Those who don’t confront their competitors’ challenges by promoting innovation
and improvement from the inside out will eventually be caught up to and even surpassed.
The company’s year-end results for 2011 prove that Messe München International is well on its
way to strengthening its role in the international trade-fair community even further – for the good
of its employees, Munich, Bavaria and its customers around the world.
05
The events that Messe München International organizes in Germany and abroad are a magnet
for exhibitors and visitors alike. Trade fairs are one of the most important communication instruments
for small and medium-sized enterprises in the industrial, commercial, skilled-trades and
service sectors. They make an important contribution to promoting exports by giving exhibitors
access to international markets and customers. Bavaria is export-oriented, so that is an important
location-related factor. Munich is one of the leading trade-fair and convention locations in Europe.
The Messe München International event portfolio, which has grown over many years, meets
the exact needs that various branches of industry have when it comes to first-rate platforms for
business and dialog.
The change and modernization process that was introduced in the Group in 2010 to increase
efficiency is correct and must now be continued consistently. The shareholders support management
in this endeavor. With efficient strategic control of the company and clear prospects for
growth, step by step we will manage on our own to realize our vision of sustainably improving
our position compared to our competitors.
Once again, Messe München International did an impressive job of confirming the trust that
the Supervisory Board placed in the performance and innovative ability of the company and its
employees in the year 2011.
FOREWORD BY THE SUPERVISORY BOARD
tHE SUpERVISoRY BoaRd
lord mayer christian Ude
Chairman
State minister martin Zeil
1st Deputy Chairman
Heinrich traublinger
Additional Deputy Chairman
Stefan ostermeier
Additional Deputy Chairman
FOREWORD BY THE SUPERVISORY BOARD

CoMpetInG WItH
tHe BeSt
oncE aGaIn, mESSE mÜncHEn IntERnatIonal clEaRlY SURpaSSEd ItS SalES and
EaRnInGS taRGEtS FoR FIScal YEaR 2011. In doInG So, It HaS FURtHER StREnGtHEnEd
ItS poSItIon aS onE oF tHE moSt pRoFItaBlE oRGanIZERS oF FaIRS and ExHIBItIonS.
2011 was an extraordinary year for Messe München GmbH. For
cyclical reasons, the company held only a few of its own large-scale
events, but for the first time ever since the new trade-fair center
was built, it managed to generate a profit prior to paying interest on
shareholder loans. Driven by the healthy state of the economy and the
success of the SPEED efficiency and development program initiated
in 2010, the company considerably surpassed its sales and revenue
targets in fiscal year 2011. At the same time, we also made important
strategic decisions for future growth in Germany and abroad.
Thanks to “MMI 2016”, its new corporate strategy, Messe München
International has set the right course for achieving its objective of
economic independence by the year 2016.
All in all, more than 270 events were held at Messe München, at
the ICM – Internationales Congress Center München and at the
MOC Veranstaltungscenter München. More than 31,000 exhibitors
and more than 1.7 million visitors were counted at those events.
Above all, the leading international trade fairs BAU, ISPO MUNICH,
transport logistic and productronica contributed to the company’s
extremely positive year-end results with increases in the number of
exhibitors and visitors well into the double-digit range. In addition to
its own events, development in the Guest Events segment was also
extremely positive. Both the ICM – Internationales Congress Center
München and the MOC Veranstaltungscenter München surpassed
expectations.
Thanks to its successful event portfolio, Messe München GmbH
2011 generated sales of EUR 189 million (2010: EUR 258 million),
and the EBITDA was EUR 52 million (2010: EUR 80 million). For the
first time since the new trade-fair center went into operation, Messe
München GmbH paid interest on shareholder loans – in the amount
of EUR 2.3 million – during a year in which there was no bauma.
KLAuS DITTrICh
Chairman and CEO
NORBERT H. BARGMANN
Deputy CEO
This is a clear sign that the SPEED efficiency and development
program is taking full effect.
Our objective in Germany is to generate additional growth. Expanding
the current facilities at the trade-fair center will play a key role
when it comes to growing business in the medium term. In 2011,
the shareholders of Messe München GmbH gave the green light to
construction of exhibition halls C5 and C6. Construction will begin
immediately after bauma 2016.
06 07
From left to right: Dr. Reinhard Pfeiffer, Gerhard Gerritzen, Klaus Dittrich, Norbert H. Bargmann, Eugen Egetenmeir
EDITOrIAL
EUGEN EGETENMEIR
Managing Director
With 48 events, development of our foreign business activities was
also extremely positive. The Group generated EUR 222.5 million in
sales. Besides the successful premiere of the construction-machinery
fair bC India in Mumbai, for the first time ever Messe München International
served as co-organizer of a trade fair in Turkey, i.e. the
logistics fair logitrans in Istanbul. The Shanghai New International
Expo Centre (SNIEC), in which Messe München holds an indirect
16.6-percent share through GEC GmbH, continued to develop at an
extraordinary pace again in 2011. The final phase of construction was
completed on schedule at the end of 2011. As a result, the SNIEC has
17 halls with a total of 200,000 m 2 of hall space and approximately
100,000 m 2 of additional outdoor space.
As far as 2012 is concerned, there are already signs that it will be
a positive year. For cyclical reason, foreign business in 2012 will
predominantly be determined by bauma China.
Growth and globalization are also changing structures at Messe
München International. The need for sustainable Group management
and an efficient focus are becoming increasingly complex. By
introducing its “MMI 2016” Corporate Strategy, Messe München International
is shaping its future and will continue to strengthen its
position in a group of leaders as one of the strongest organizers of
trade fairs and exhibitions in the world.
DR. REINHARD PFEIFFER
Managing Director
GERHARD GERRITzEN
Deputy Managing Director
EDITOrIAL

collaBoRatIon
In BRaZIl
lonG nIGHt oF
aRcHItEctURE
Premiere of the “Long night
of Architecture”: Some
10,000 curious participants
discovered the spectacular
world of Munich architecture
during a nighttime tour. The
event was organized by BAU,
the International Trade Fair
for Architecture, Materials and
Systems. The fair celebrates
its 20th anniversary in 2013.
MIleStoneS In 2011
tHE laSt YEaR waS cHaRactERIZEd BY ImpoRtant StRatEGIc dEcISIonS
aFFEctInG tHE GRoUp’S domEStIc and FoREIGn actIVItIES.
pREmIERE In IndIa
lopE-c comInG
to mUnIcH
As of 2012, the largest European
trade fair and conference on the topic
of organic and printed electronics
has a new home: Messe München.
Organic circuits, solar-cell films,
light-emitting diodes and roll-up displays
– the economic outlook for this
industry, which creates entirely new
product worlds, is outstanding.
EnERGY FRom tHE
EaRtH
contRact In BEIJInG
drinktec, the International Trade
fair for Beverage and Liquid-food
Technology, is now co-organizer
of China Brew & China Beverage
(CBB). The International Trade Fair
for Brewery and Beverage Technology
is held in China every two
years and is considered the most
important industry event in Asia.
nEw It platFoRm
FoR mUnIcH
onE call – tHREE locatIonS –
onE SolUtIon
Thanks to its attractive locations, Messe
München International always has the perfect
venue for organizers of trade fairs, congresses
and other events. Practical: Now the ICM –
Internationales Congress Center München, the
MOC Veranstaltungscenter München and Messe
München are being marketed from a single
source. One contact person advises customers
about the range of facilities, services and availability
at all three venues. Which is why we say:
One call, one solution!
EnERGY StoRaGE
EnVIRonmEntal FaIR
In SHanGHaI
IE expo now complements the
international trade fair IFAT ENT-
SORGA in the rapidly growing Asian
market for water, sewage, waste
and raw-materials management.
Messe München International has
intensified its collaboration with
Shanghai zM International Exhibition
Co. Ltd. and founded a joint venture.
The new brand name “IE expo” has
replaced the former event’s name.
The first IE expo takes place at the
Shanghai New International Expo
Center (SNIEC) in 2012.
a BaUma FoR
aFRIca
Messe München Interna-
A strong debut on the Indian
Messe München is the first trade-fair
Messe München International
The need for electrical energy storage
The contracts are signed:
tional and NürnbergMesse
subcontinent: More than 22,000
center in Europe with geothermal
launched a new IT platform
solutions has grown at a rapid pace.
Messe München Inter-
are setting up a joint
visitor from 69 countries attended
heating. At a temperature of 90 °C,
called Communication World
This topic not only affects several
national is expanding its
sales team. It will be
the premiere of the BAUMA /
water bubbles out of the ground
in 2011: The motto of the fair
branches of industry, it is also a driving
international network for the
located at NürnbergMesse
CONEXPO SHOW “bC India” in
and travels along a 500-meter-long
is “ITelligent mobility”, and with
force in politics and research. To give
construction-machinery sec-
Brasil, a subsidiary of
Mumbai. The joint venture between
heating pipeline to heat all of the
more than 800 participants,
this dynamic growth market a sound
tor by adding a new event in
NürnbergMesse in São
Messe München International
halls using geothermal energy. The
42 exhibitors and sponsors as
platform, Messe München International
Africa and is also founding
Paulo that was founded
and the US-based Association of
pipeline to the Stadtwerke München
well as more than 70 lectures
is expanding its successful portfolio
a subsidiary in South Africa.
in 2009. The objective of
Equipment Manufacturers (AEM)
geothermal grid was laid in August,
and congress panels, the MOC
to include a future-oriented trade fair
The first bauma Africa takes
the joint venture is to give
complements Messe München In-
and geothermal energy was used for
Veranstaltungscenter proved
for electrical storage solutions: Held in
place in Johannesburg in
both Bavarian trade-fair
ternational’s already strong cluster
heating purposes for the first time at
itself yet again as a develop-
conjunction with the international trade
September 2013. The pre-
corporations a more
of construction-machinery events.
the end of 2011. Messe München,
ment center for trade fair on
fair electronica, ees – electrical energy
miere of the fair is expected
professional image and
The next bC India takes place in
which is one of the “greenest” trade-
new topics.
storage 2012 is the first fair of its kind
to have some 200 exhibitors
to clearly strengthen their
February 2013.
fair centers in the world, now saves
to depict the entire value chain for
and 20,000 m
presence in the emerging
some 8,000 tons of CO . 2 innovative battery and energy-storage
nation of Brazil.
technologies. The new event was
introduced to the public shortly before
productronica.
2 of exhibition
space.
08
JanUaRY FEBRUaRY
maRcH apRIl maY
JUnE
JUlY
aUGUSt
SEptEmBER
octoBER
noVEmBER
09
dEcEmBER
MILESTOnES 2011
ExpanSIon In RIEm
As of 2016, two new halls are being
added to the trade-fair center. As a
result, Messe München International
guarantees that international trade
fairs such as BAU, bauma, IFAT ENT-
SORGA and ISPO MUNICH and guest
events such as Intersolar can continue
to grow. “Expansion is the only way to
ensure that we can meet constantly increasing
demand for exhibition space.
We are pleased about the shareholders’
decision, which sends a clear
signal for new growth at the Munich
venue,” said Klaus Dittrich, Chairman/
CEO of Messe München International.
MILESTOnES 2011

GRoUp StRUctURE
MeSSe MünCHen InteRnAtIonAl
mESSE mÜncHEn GmBH
mÜncHEn
100 %
85 %
50 %
33 %
7,41 %
5 %
meplan GmbH
munich
GEc German Exposition
corporation International GmbH
Berlin
OPTI 470 38 22,695 22 21,014
10
40 % trendset GmbH
munich
PRODUCTRONICA
TrAnSPOrT LOgISTIC
1,189
1,893
40
44
38,072
51,310
47
34
41,947
59,499
11
BEYOND TOMORROW
90 %
1,82 %
100 %
50 %
ImaG – Internationaler messe-
und ausstellungsdienst GmbH
munich
EKo mmI Fuarcilik ltd.
Istanbul
Bayern tourismus
marketing GmbH
munich
anwendungszentrum GmbH
oberpfaffenhofen
Gilching
adventor GmbH
munich
messe Idar-oberstein GmbH
Idar-oberstein
mmI asia pte. ltd.
Singapore
50 %
65 %
100 %
100 %
100 %
50 %
100 %
100 % MMI Mittel-/Osteuropa GmbH
Vienna
100 %
50 %
50 %
Pattern (Trade Fairs) Ltd.
London
Shanghai New International
Expo Centre Co. Ltd.
Shanghai
Jing Mu International Exhibition Co. Ltd.
Beijing
bC Expo India Pvt. Ltd.
Mumbai
MMI Asia (Hong Kong) Ltd.
Hong Kong
MMI Asia Pte. Ltd. (Hong Kong Branch)
Hong Kong
MMI Asia Pte. Ltd. (Taiwan Branch)
Taipeh
MMI India Pvt. Ltd.
Mumbai
MMI (Shanghai) Co. Ltd.
Shanghai
MMI-ZM Trade Fairs
(Shanghai) Co. Ltd.
Shanghai
RESUltS
oF tRADe FAIR eVentS In 2011
2011 trade fair Exhibitors Share of foreign Visitors Share of foreign Gross space
exhibitors (in %) exhibitors (in %) (in m²)
BAU 2,010 26 238,230 25 117,660
BIKE EXPO 314 42 22,271 7 21,211
COMMunICATIOn WOrLD 42 2 800 - -
ExPO rEAL 1,607 23 33,449 27 34,631
F.RE.E 1,361 40 94,249 3 31,842
GARTEN MüNCHEN 2) 145 14 - - 4,967
HEIM + HANDWERK 1) 1,052 20 122,246 1 33,049
INHORGENTA MUNICH 1,072 34 32,292 32 31,597
InTErnATIOnALE hAnDWErKSMESSE 2) 943 21 148,936 2 33,741
ISPO 2,092 86 81,928 66 111,686
LASEr WOrLD Of PhOTOnICS 1,075 58 27,490 52 22,029
METALL MünChEn 245 10 16,009 10 7,338
OILS + fATS 48 44 670 58 811
TRENDSET (Summer) 1,100 - 33,469 8 -
TRENDSET (Winter) 1,040 - 37,241 8 -
BAUzENTRUM POING 55 9 80,000 - 46,000
Guest events Messe München 6,256 - 195,421 - -
Guest events MOC Veranstaltungscenter
München 7,370 - 366,998 - -
ICM – Internationales Congress Center München
Congresses, conferences, events - - 110,000 - -
Total 31,379 21 1,753,776 12 619,022
1) hEIM + hAnDWErK in the year 2011 incl. fOOD & LIfE
2) InTErnATIOnALE hAnDWErKSMESSE and gArTEn MünChEn were held in conjunction with one another.
STRONG PERFORMANCE

manaGEmEnt REpoRt and
GRoUp manaGEmEnt REpoRt 2011
MESSE MüNCHEN GMBH, MUNICH
12 I. PERFORMANCE OF MESSE
MüNCHEN GMBH
cent compared to the last time that the same
events were held, reaching some 6.1 million
m
13
The business activity of Messe München
GmbH remains unchanged and continues to
essentially entail the development, operation
and maintenance of Messe München,
the ICM – Internationales Congress Centre
München (hereinafter referred to as “the
ICM”) and the MOC Veranstaltungscenter
München (hereinafter referred to as “the
MOC”) as well as holding trade-fair events
in Germany and abroad. Special areas of
activity (e.g. stand construction) and foreign
activities (sales and holding trade fairs) are
conducted through subsidiaries.
2 . After declines in 2010 (-2%) and 2009
in 2009, all 16 halls at the trade-fair center
were booked to capacity.
(-8%), the number of visitors made a notice- ISPO also did an impressive job of confirmable
recovery, increasing by 9.5 percent to ing its position as the world’s leading sports-
some 9.5 million visitors.
business platform, setting new records in the
number of visitors and exhibitors alike. There
were 82,000 trade visitors, a 25-percent increase
over the previous year. The number
of exhibitors also increased by 200 to 2,271
companies. As a result, all 180,000 m2 of
space at the trade-fair center was booked to
capacity. INHORGENTA 2011 set a new high
in the number of visitors, which increased
by three percent to 32,000 trade visitors.
The number of exhibitors was also up by
two percent compared to the previous year,
increasing to 1,114.
According to surveys by AUMA (Association
of the German Trade Fair Industry), as
a trade-fair location, Germany continued to
recover from the considerable setbacks that
it suffered in 2009. According to preliminary
and, in some cases, estimated results, the
number of exhibitors at the 135 international
trade fairs that were held in Germany and
were included in the 2011 statistics increased
by three percent compared to the last time
that the same events were held (2010: +1%).
At four percent (2010: +2%), the increase in
the number of participants from abroad was
considerably stronger than the increase in
the number of domestic participants, which
was up by just one percent (2010: -1%). After
two years of decline (2010: -3%; 2009:
-6%), the amount of rented stand space
increased again by approximately two per-
AnnuAL rEPOrT
Given this average growth, development
of trade-fair business in Munich remained
clearly positive. Due to cyclical factors, 2011
was a weaker year for messe münchen
GmbH (hereinafter referred to as “MMG”),
above all because there was no IFAT-EN-
TSORGA following its switch from a threeyear
to a two-year format. However, given
the healthy state of the economy and the
success of SPEED – the efficiency and
development initiative introduced in 2010 –
the year 2011 was a very positive year for
MMG. The fairs that were held set several
new records in the number of exhibitors and
visitors and considerably surpassed target
values in some cases.
The first major self-organized event of the
year, i.e. BAU, set new records in the number
of exhibitors and visitors. The total number
of exhibitors (238,000, an increase of
twelve percent over the last event in 2009)
and the considerable increase in the share
of exhibitors and visitors from countries other
than Germany, underscored BAU’s position
as the leading international trade fair for architecture,
materials and systems. A total of
2,059 exhibitors (+ 8%) from 46 countries
occupied 182,000 m 2 of exhibition space. As
The travel and leisure fair F.RE.E, which had
more than 1,400 exhibitors, lured 95,000 visitors
to the trade-fair center. As a result, the
number of visitors remained stable compared
to the last time that the fair was held. With
an increase of seven percent to more than
51,000 trade visitors, TrAnSPOrT LOgIS-
TIC 2011 set a new record. The number of
exhibitors also increased by seven percent
compared to the last time that the fair was
held. Nearly 1,900 exhibitors from 54 countries
took part in the world’s largest trade
fair for logistics.
Once again, LASEr WOrLD Of PhOTOn-
ICS strengthened its position as the world’s
leading trade fair for photonics technology.
AnnuAL rEPOrT

The 20 th edition of the fair ended with a record
number of exhibitors (1,075; + 4%),
and the number of visitors increased by
more than eight percent to 27,500. BIKE
EXPO, which changed its name to ISPO
BIKE, is back on the road to success. Nearly
6,800 trade visitors mean an increase of
14 percent compared to 2010. The number
of exhibitors increased by an impressive
17 percent to 315. In addition, more than
15,000 visitors came to Messe München on
the day that BIKE EXPO was open to the
general public.
and 42 exhibitors and sponsors as well as a
lecture program with more than 70 lectures
at the MOC and will take place again this
October.
CWS confirmed its leading position as the
largest trade fair for environmental technology
in China (752 exhibitors, 22,000 visitors).
The key figures for financial year 2011 were
as follows:
Despite turbulence on the financial markets,
ExPO rEAL proved yet again that it
is an anchor of stability on the commercial
real-estate market. With some 37,000 participants
and more than 1,600 exhibitors, it
14 matched its results from the previous year.
With a 34-percent increase in attendance to
IV. SITUATION OF THE COMPANY
AND THE GROUP
15
more than 38,000 visitors and a 15-percent
increase in the number of exhibitors to more
a) Earnings situation of messe münchen
than 1,200 companies, PRODUCTRONICA
The company considerably surpassed the
2011 did an impressive job of confirming its
sales and earnings targets that were planned
position as the world’s leading trade fair for
for the year 2011. Sales revenue was EUR
innovative electronics production. Having re-
189.3 million, nearly EUR 19 million more
covered from the crisis in 2009, companies
than the target value. Like the previous year,
including all key players presented them-
the company achieved break-even results.
selves on 77,000 m however, 2011 was the first “non-Bauma
year” since Messe München began operations
at the new trade-fair center that its
shareholders – the City of Munich and the
State of Bavaria – were paid EUR 2.3 million
in interest on shareholder loans.
Sales revenue amounted to EUR 189.3
million, while expenses directly attributable
to events totaled EUR 72.7 million. A
contribution margin 1 of EUR 116.6 million
was achieved. The contribution margin increased
from some 59.5% the previous year
to 61.6%.
The other operating income of EUR 2.7
million (previous year: EUR 2.3 million) resulted
mainly from the release of provisions.
The average number of employees decreased
from 565 (including 21 trainees) to
544 employees (including 22 trainees). As a
result, personnel expenses decreased from
EUR 39.7 million the previous year to EUR
37.2 million.
2 II. PERFORMANCE OF
THE GROUP
Given the events calendar, 2011 was also a
weaker year for MMG’s investment companies
in Asia, primarily because – for cyclical
reasons – there was no BAUMA CHINA.
In 2011, the Group’s foreign trade-fair business
was primarily defined by the successful
premiere of BC INDIA – A BAUMA CONEXPO
SHOW, an international trade fair for construction
machinery, building-material machines,
mining machines and construction vehicles.
It was held for the first time from february 8 –
11, 2011 and had 508 exhibitors from more
than 30 countries and some 88,000 m
of hall space.
When it comes to guest events, INTERSO-
LAr EurOPE, the world’s largest trade fair
for the solar sector, saw increases in the
number of exhibitors and visitors in 2011.
Nearly 2,300 exhibitors presented themselves
to some 77,000 visitors in 15 exhibition
halls. That corresponds to a 21-percent
increase in the number of exhibitors and a
seven-percent increase in the number of visitors.
INTER AIRPORT EUROPE 2011 also
experienced positive growth with a five-percent
increase in trade visitors (12,600) and a
ten-percent increase in exhibitors. The event
is being held at Messe München again in
October 2013. Generally speaking, business
in the guest-events division was outstanding,
and with a good EUR 30 million in sales, was
some EUR 10 million over target.
The ICM and the MOC surpassed expectations.
It is important to note that COMMUnICATIOn
WOrLD celebrated a successful
premiere with more than 800 participants
2 Positive development of the Shanghai new
International Expo centre (SNIEC), in
which MMG holds an indirect 16.6% interest
through GEC GmbH, also continued in the
year 2011. As a result, demand for exhibition
space at the SNIEC and, thus, the company’s
rental business remained extremely positive.
The final phase of construction (four halls)
was completed on schedule in 2011. As a result,
the Expo Centre is now fully developed
and has 17 halls with a total of 200,000 m
of
exhibition space at an outdoor site at the
Bandra Kurla Complex in Mumbai that was
selected exclusively for this event. The fair
surpassed all expectations. Nearly 25,000
visitors attended the premiere. The organizer,
bc Expo India pvt. ltd., is a joint venture
between MMG’s subsidiary MMI India
and the US-based Association of Equipment
Manufacturers (AEM), which organizes the
second-largest trade fair for construction
machinery in the world. As a result, besides
BAUMA CHINA, MMG has a second international
trade fair for construction machinery
in the Asian region.
With an impressive increase of 32 percent
in the number of exhibitors (276) and nine
percent increase in the number of visitors
(17,700), development of ISPO CHINA in
Beijing remains very positive. New records
were also set by ELECTrOnICA & PrO-
DUCTRONICA CHINA 2011 (480 exhibitors,
38,000 visitors) and LASEr WOrLD Of
PHOTONICS CHINA 2011 (361 exhibitors,
29,000 visitors). AnALYTICA VIETnAM had
127 exhibitors, a sizeable increase of 70%
over its premiere in 2009. At ELECTrOnICA
INDIA and PRODUCTRONICA INDIA, which
were held together in New Delhi, 917 exhibitors
from 25 countries presented their products.
Once again, IFAT CHINA + EPTEE +
2 of
hall space and approximately 100,000 m2 2011 Previous year
Sales, Messe München GmbH
Profit/loss for the year, Messe München gmbh
EBITDA before shareholder subsidies
Group sales
Consolidated net profit for the year
Exhibitors at Messe München (MMG events)
189.3 Mio. EUR
0 Mio. Eur
52.0 Mio. EUR
222.5 Mio. EUR
0.8 Mio. Eur
12,703
257.9 Mio. EUR
0 Mio. Eur
80.4 Mio. EUR
301.8 Mio. EUR
12.1 Mio. Eur
17,688
Visitors at Messe München (MMG events) 620,761 1,021,309
Exhibition space occupied at Messe München 1,846,782 m² 2,450,387 m²
of
additional outdoor exhibition space.
MMG’s subsidiary ImaG posted extremely
positive year-end results for 2011. By contrast,
mEplan posted slightly negative re-
The depreciation and amortization of tangible
and intangible fixed assets decreased
million to EUR 68.6 million. This decrease
was essentially due to lower bank balances.
sults for the year.
from EUR 46.1 million to EUR 34.3 million. This figure increased significantly due to ad-
The higher value in the previous year was vance payments received in 2010 for trade
trendset GmbH, in which MMG held a
due to unscheduled depreciation of auxiliary fairs in the first quarter of 2011, particularly
40-percent interest since 2008 and has held
buildings in the amount of EUR 10.6 million. for the trade fair BAU, which takes place
a 51% majority interest since January 1,
every two years.
2012, organizes TRENDSET MIT MUS-
other operating expenses decreased mar-
TERMARKT UND BIJOUTEX at the tradeginally
compared to the previous year to EUR On the liabilities side, shareholders’ equity
fair center in Munich twice a year. As in the
32.0 million. As in the previous year, they increased considerably from EUR 154.6 mil-
past, both events continue to see positive
essentially comprised building maintenance lion to EUR 179.6 million. This was due to
development.
expenses. Approximately half of the other the principle shareholders’ payments into the
operating expenses were incurred for reno- capital reserves and to the reinvestment of
vation and maintenance work.
part of the interest on shareholder loans
III. KEY PERFORMANCE INDICA-
paid to the principle shareholders – also in-
TORS AND FIGURES 2011
Interest expenditures decreased by EUR clude capital reserves. Liabilities to banks
13.8 million compared to the previous year decreased by EUR 39.6 million to EUR 318.5
To manage the company effectively, ex-
to EUR 18.5 million. This decrease is pre- million. Other provisions decreased slightly
tensive reporting is conducted at both the
dominantly due to considerably lower interest from EUR 44 million to EUR 42.8 million.
company and Group levels as well as for
payments made on shareholder loans com- Due to cyclical factors, advance payments on
the various trade fairs. All actual and forepared
the previous year and to savings on orders received from customers decreased
cast data for the remainder of the financial
interest payments resulting from scheduled by EUR 13.7 million to EUR 23.6 million.
year (sales, expenses, investments) of MMG
repayments of third-party loans.
and its participating interests are recorded
c) Situation of the Group
and compared to budget data on a quarterly
EUR 55,000 in income tax was incurred for External sales of the consolidated investment
basis. In addition, key figures for the various
financial year 2011. Other taxes refer mainly companies in the Group amounted to EUR
trade fairs regarding factors such as custom-
to real-estate tax and lump-sum payroll tax. 35.1 million. Due to cyclical factors, this is
er satisfaction, profitability on a contribution-
considerably lower than the previous year’s
margin basis, foreign participation, etc. are
b) Financial situation of messe münchen level (EUR 50.0 million) because the capital-
ascertained and compared to the figures for
The balance-sheet total decreased from goods fairs that are held in Shanghai every
previous events and the target values. The
EUR 1,148 million to EUR 1,108 million. On two years – BAUMA CHINA, TRANSPORT
control of projects is supported by SAP in
the asset side, fixed assets decreased by LOgISTIC ChInA and IfAT ChInA – did
the form of cost-unit accounting, and control
EUR 29.1 million to EUR 1,039 million as the not take place in the year 2011. The Group
of the central departments takes place on a
result of depreciation, particularly of build- recorded a consolidated net profit of Eur
cost-center basis.
ings. Current assets decreased by EUR 11.7 0.8 million (previous year: EUR 12.1 million).
AnnuAL rEPOrT
AnnuAL rEPOrT

16 The new trade fairs in India, BC INDIA – ELECTrOnICA) is also positive.
17
The consolidated result was primarily due to
the results of MMI (Shanghai) Co., Ltd. The
results of the German investment companies
MEPLAn and IMAg are included in the profit
and loss account of MMg through profit and
loss transfer agreements.
The group’s financial situation is determined
essentially by the situation of Messe
München described above.
V. OPPORTUNITIES AND RISKS
fOr fuTurE DEVELOPMEnT
AND RISK MANAGEMENT
A risk management system is in place at
MMG. It is used to record developments
that are relevant to Messe München and
its subsidiaries. Necessary corrective action
and countermeasures can be initiated
at any time.
The general risk situation is reanalyzed and
evaluated each year in a working group comprising
management and key executives.
The general risk situation remained essentially
unchanged compared to the previous
year. Property and liability insurance policies
with reasonable deductibles have been taken
out to protect the company against the usual
business risks. No provisions have been
made for risks that are extremely unlikely
AnnuAL rEPOrT
(e.g. earthquakes), but which can be included
in comprehensive building insurance
or for risks that can be covered separately
(terrorism).
Not least of all against the backdrop of the
Euro crisis and the chance that it could intensify,
there are economic risks for the European
economy. If they come to fruition, it could
have consequences on trade-fair business
because, when orders decline, companies
generally also reduce their budgets for participating
in trade fairs.
Several trade fairs (BAU, BAUMA, ISPO and
IFAT ENTSORGA) are already reaching the
total capacities of the trade-fair center. These
fairs are also expected to continue growing
in the long term. However, if corresponding
demand for space cannot be met, it could
result in a loss of substance for exhibitors
and could even prompt individual topics to
“spin off” and reestablish themselves at other
trade-fair venues. MMG plans to counter this
development by building two new halls, i.e.
Halls C5 and C6.
General economic pressure is intensifying
competition for theme-related events, guest
events and congress events as well as for
purchasing trade fairs. Organizers of guest
events and congress events are increasingly
being offered deals at dumping prices
in which rental fees for space are becoming
increasingly smaller.
Despite tougher competition for guest
events, Messe München performed very
well in this area again in 2011.
Additional opportunities are expected to
emerge as a result of the growth strategy
that is part of the SPEED efficiency and
growth program.
It may be possible to increase the amount of
exhibition space occupied by leading trade
fairs through the ongoing development and/
or addition of new themes (e.g. adding LOPE-
C and ELECTrICAL EnErgY STOrAgE to
ELECTrOnICA and/or PrODuCTrOnICA).
MMG is also planning to expand the themes
of its other leading trade fairs.
At the beginning of fiscal year 2011, a compliance
organization was established within
MMG that calls for an internal compliance
director, an internal compliance officer and
the appointment of an external ombudsman.
The move is intended to ensure adherence
to the Compliance Policy, which contains
the most important codes of conduct and
went into effect at the same time. Besides
exposing improprieties and bringing about a
response, it also includes preventative measures
for ensuring that existing internal sys-
tems to avoid infringements are functioning
properly and recommending improvements
if necessary.
As far as the company’s investments are
concerned, there are currently no risks
worth mentioning. The foreign trade-fair
corporations also profited from the ongoing
economic recovery in 2011. for the first time
ever in a “non-BAUMA CHINA year”, MMI
(Shanghai) Co. Ltd. posted positive results,
among other things due to ISPO BEIJING,
which continues to develop very well. In addition,
in 2012, the company is expanding its
activities in China by holding the first “China
Brew & Beverage Beijing”, which it is organizing
with its Chinese partner, the China National
United Equipment Group. MMI India
Pvt. Ltd. also continued its growth trend.
A BAUMA CONEXPO SHOW and INTER-
SOLAr InDIA, go off to an excellent start.
LOgITrAnS, a logistics fair organized in a
joint venture in Turkey, was also a success.
In the stand-building business, which is extremely
competitive, MEPLAn did a good job
of holding its own. However, it still posted
slightly negative results in 2011. IMAG, on
the other hand, generated a net profit for
the year.
VI. OuTLOOK
Since IFAT has switched to a 2-year interval,
2012 is expected to be a normal trade-fair
year for MMG. Sales of approximately EUR
200 million and break-even results are expected.
The beginning of the 2012 trade-fair year
was positive. ISPO, which occupied all of
the halls at the trade-fair center as it did in
2011, saw another increase in the number
of exhibitors by 3 percent to 2,344. Some
80,000 trade visitors attended the fair, maintaining
the same high level of the 2011 event.
INHORGENTA was also a success. The
number of exhibitors increased by another
2 percent to 1,134 compared to the previous
year. Some 30,000 trade visitors confirmed
the significance of the trade fair for jewelry
and watches on the international market.
F.RE.E. had more than 120,000 visitors,
which is a considerable increase of more
than 25 percent over last year’s fair. The
combination of strengthening the caravan
sector and adding “Münchner Autotage”
proved very successful.
So far, the number of registrations received
for other events in the first half of 2012 is
in keeping with earlier expectations. For
the first time ever, IfAT EnTSOrgA 2012
will occupy all of the exhibition halls. The
number of exhibitors at the outdoor exhibition
site also increased, as did the amount
of occupied exhibition space. AUTOMATICA
is on target, as is AnALYTICA. It appears
that LOPE-C, a new event, will have a successful
premiere. The outlook for fairs in
the second half of 2012 (e.g. ExPO rEAL,
For cyclical reasons, foreign trade-fair business
in the year 2012 will primarily be influenced
by BAUMA CHINA, which takes place
in Shanghai at the end of November. ISPO
BEIJUNG set some new records in February:
More than 24,500 trade visitors – 38
percent more than in 2011 – came to the
China National Convention Center in Beijing,
where 353 exhibitors (+ 28%) presented
516 brands (+ 47%) on 35,000 m 2 (+ 17%)
of exhibition space. As a result, the fair further
strengthened its position as the leading
sports-business platform in the Asian-Pacific
region.
Since both BAUMA, which is held every
three years, and BAU, which is held every
two years, both take place in 2013, next year
is expected to be a particularly strong year
for MMG. Sales of approximately EUR 280
million and break-even results are expected.
Munich, March 30, 2012
The Management
AnnuAL rEPOrT

conSolIdatEd BalancE SHEEt
MESSE MüNCHEN GMBH, AS OF 31 DECEMBER 2011 MESSE MüNCHEN GMBH, FOR THE BUSINESS YEAR
FROM JANUARY 1 – DECEMBER 31, 2011
asseTs 31 DeC. 2011 Previous year
eur Teur
31 DeC. 2011 Previous year
eur Teur
a. Fixed assets
1. Sales 222,479,152.94 301,755
I. Intangible fixed assets 3,682,758.70 3,751
2. Change in work in progress –420,881.56 –1,668
II. Tangible fixed assets 1,019,409,619.26 1,049,574
3. Other operating income 3,587,794.52 3,100
III. Investments 18,224,741.36 14,252
225,646,065.90 303,187
1,041,317,119.32 1,067,577
4. Event expenses –92,013,594.82 –118,538
B. current assets
5. Personnel costs
I. Stocks
a) Wages and salaries –35,478,626.46 –37,302
1. Raw materials and supplies 434,710.61 457
b) Social security contributions and pension and support costs
2. Work in progress 1,155,634.54 1,577
(of which pension costs EUR 3,756,530.35; previous year TEUR 4,278) –9,550,645.69 –10,422
3. Advance payments 543,625.51 1,826
6. Amortization of intangible fixed assets
2,133,970.66 3,860
and depreciation of tangible fixed assets –34,877,088.13 –46,797
II. Receivables and other assets
7. Other operating expenses –35,637,341.91 –36,302
1. Trade receivables 9,818,234.69 10,914
18,088,768.89 53,826
2. Receivables from shareholders 0.00 0
8. Income from participating interests 0.00 0
3. Receivables from associated companies 0.00 282
9. Result from participating interests in associated companies 4,308,401.11 107
4. Receivables from investment companies 4,018.78 0
10. Other interest and similar income 1,153,531.54 561
5. Other assets 1,588,057.07 1,115
11. Interest and similar expenses
11,410,310.54 12,311
(of which, to shareholders EUR 2,286,177.88 previous year TEUR 12,185)
III. Cash in hand, cash at banks 88,398,813.02 99,631
(of which, interest accrued for long-term provisions: EUR 428,986.00;
18 101,943,094.22 115,802
previous year TEUR 408) –18,501,617.48 –32,342 19
c. prepaid expenses and deferred charges 1,469,889.11 92
–13,039,684.83 –31,674
1,144,730,102.65 1,183,471
12. Profit on ordinary activities 5,049,084.06 22,152
13. Extraordinary expenses 0.00 –679
14. Taxes on income –569,132.17 –4,491
15. Other taxes –3,567,143.02 –4,777
equiTy anD liabiliTies 31 DeC. 2011 Previous year
16. Consolidated net income for the year (prev. year: net loss)
eur Teur
before minority interests 912,808.87 12,205
a. capital and reserves
17. Minority interests’ share of result –72,230.10 –84
I. Capital subscribed 248,656,580.58 248,657
18. Consolidated net income for the year (prev. year: net loss) 840,578.77 12,121
II. Capital reserves 74,130,110.21 49,130
19. Consolidated accumulated loss in previous year –122,922,448.94 –135,043
III. Other revenue reserves
IV. Goodwill set off against revenue
213,366.06 276
20. Consolidated accumulated loss –122,081,870.17 –122,922
reserves in previous years –1,775,304.60 –1,775
V. Currency differences 1,970,147.14 1,012
VI. Consolidated accumulated loss –122,081,870.17 –122,922
VII. Minority interests 124,897.85
201,237,927.07
92
174,470 ImpRInt
B. Shareholder loans 520,755,022.66 520,755
c. provisions
1. Provisions for pensions and similar liabilities
2. Provisions for taxation
3. Other provisions
d. liabilities
9,262,133.19
1,670,214.57
44,547,138.00
55,479,485.76
9,069
4,176
45,889
59,134
PuBLIShEr
Messe München GmbH
Dirk Sturny
Director, Central Division MarCom
rESPOnSIBLE
FOR CONTENT
Alexander Mohanty
(Corporate PR)
PHOTO CREDITS
Edith v. Welser-Ude: Page 5 (l.);
Andreas Pohlmann: Page 6
1. Bank loans and overdrafts
2. Advance payments received from customers
3. Trade liabilities
318,495,794.50
32,530,419.26
11,556,194.79
358,145
44,515
10,626
(Marketing and Press)
Messegelände
81823 München
CONCEPT AND
IMPLEMEnTATIOn
4. Liabilities to associated companies
5. Liabilities to shareholders
6. Liabilities to investment companies
0.00
2,321,410.59
0.00
299
12,150
6
Deutschland/Germany
Tel. +49 89 9 49-2 07 31
Anita Kellermann
(Corporate Marketing)
7. Other liabilities 1,890,146.98
366,793,966.12
2,402
428,143
Fax +49 89 9 49-2 07 30
LAYOuT
E. deferred income 463,701.04 969
newsline@messe-muenchen.de
Werbelounge München GmbH
1,144,730,102.65 1,183,471
www.messe-muenchen.de
AnnuAL rEPOrT
conSolIdatEd pRoFIt and loSS accoUnt
AnnuAL rEPOrT

MESSE MÜNCHEN GMBH | Messegelände | 81823 München | Germany
Tel. +49 89 9 49-2 07 20 | Fax +49 89 9 49-2 07 29 | newsline@messe-muenchen.de | www.messe-muenchen.de