- Cutting costs to conserve liquidity is a higher priority now
- Cost reductions and deferral of the investment program
- Construction of the new “NCC Süd” now planned for 2024/2025
In view of the ongoing coronavirus pandemic and its effects on the trade fair business, NürnbergMesse has decided to postpone the planned investment in the fourth convention centre in the Nuremberg Exhibition Centre. Originally planned for February 2021, the destruction of Hall 3 and the start of construction of the new “NCC Süd” will now take place in February 2024 or February 2025.
“Our hearts still say yes, but our brains say no. In this case, it is better to listen to our brains!”, said Peter Ottmann, CEO NürnbergMesse Group. His CEO colleague Dr. Roland Fleck made the following comment on the jointly reached decision: “Postponing the start of construction was not an easy decision for either of us. But in the midst of the coronavirus turmoil, for which we are of course not responsible, the first priority is to conserve the company’s liquidity!”
As a result of the coronavirus crisis, NürnbergMesse must lower costs to maintain profitability and reduce expenditures that drain liquidity. This also means stretching out planned investments, which is why the planned start of construction of the new exhibition building, which had been planned for next year, is now being postponed. The same applies to the planned “The Key” office building in the Nuremberg Exhibition Centre, the construction of which has also been postponed.
However, the two CEOs also said: “Postponed does not mean abandoned! Even now, we have a functional exhibition centre that offers attractive conditions for trade fairs, congresses and events. We are firmly convinced that after the coronavirus pandemic recedes we will once again successfully hold exhibitions, initially without the new building but then, in the medium term, with our future architectural milestone, the new NCC Süd!”