Olma Messen St.Gallen AG, a trade fair organizer, is implementing an efficiency program to address financial challenges. The company is facing a capital increase target of CHF 20 million, which it is projected to miss by approximately CHF 6 million. This is due to ongoing losses from the coronavirus pandemic and unexpected construction cost overruns.
To save CHF 6 million, the company plans to reduce its workforce by approximately ten positions and pause investments in various areas. Olma Messen aims to focus on acquiring major corporate events and developing new trade fairs and congresses.
The recent vote against the highway expansion has implications for the company's future investments, particularly concerning Hall 9. Olma Messen is evaluating necessary investments for Hall 9 and exploring funding options. The company recognizes the importance of site and real estate development for its financial stability and future growth.
Through these measures, Olma Messen aims to stabilize its financial position and lay the groundwork for future growth.