• AEM closes out 2018 ahead of budget

    AEM closes out 2018 ahead of budget

    AEM closed out the 2018 calendar year with a net operating surplus of $1.072 million, exceeding the budget of $405,000 by $667,000. Included in net operating income was a reinvestment of $5.5 million of earnings from 2017 which was the high year in the association’s exposition cycle, as both CONEXPO-CON/AGG and ICUEE were held.

    Also included in the 2019 budget were strategic plan costs of close to $3 million, relating to the AEM Board-established priorities for the second year of the current Strategic Plan.

    Overall, expositions contributed $4 million to the net operating surplus after a year-end forecast adjustment for CONEXPO Latin America, as local economic conditions have potential for lowering net income for the 2019 show in Santiago, Chile.

    By design, AEM’s expositions help finance programs and services, subsidizing a net loss from programs and services of ($9.8 million) for the year.

    General and administrative costs savings totaled nearly $1 million, contributing to a completion of a successful financial year.

    AEM’s balance sheet ended strong with total assets of $72.7 million, including an investment fund balance of $24.7 million.

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