As an integrated Group operating in all event professions, GL events works in three major segments:
event organisation, event venue management and services for fairs, congresses and events.
© Odile Decq architect / Felice Varini – Altitude 150
|In millions of euros||2003||2002||variation|
|First quarter group sales||179,4||140,7||+27,6 %|
For the 1st half-year 2003, Générale Location had sales of €179.4 million, an increase of +27,6% (+20% on a comparable structure and exchange rate basis). In a difficult economic environment, this sales success and the synergies developed between the core businesses underline Générale Location's ability to develop its business activities to strengthen its position as Europe's leading provider of engineering and logistics services for events.
Global Services for trade shows, exhibitions and events: +4.6%
(+5.6% on a comparable structure and exchange rate basis) to €90 million for 50.2% of Group sales.
The first half-year was primarily marked by the Group's participation in three major international meetings (the France-Africa summit, G8 and the Summit of European Heads of State). In preparation of the Athens's Olympics, a first contract has been signed for the test events in August 2003. In addition, Générale Location is in the process of negotiating for the next Forum of Cultures (Barcelona, 2004) and has already signed two contracts for €8 million.
Venue and Event Management: +168%
(+77.6% on a comparable structure basis) to €34.1 million for 19% of Group sales.
The strong sales growth demonstrates the Group's ability to develop both venues already under management and newly signed venues (e.g., Parc Floral, Grande Halle d'Auvergne and Zenith in Clermont Ferrand). By strengthening synergies between venue management and the provision of related services, the recent acquisition of COFRATA, whose activity is currently strong on the first half (around 60% of sales in the 1st half-year), should enable the Group to accentuate development in this area.
Fittings, Museum Fittings, Systems: +32.1%
(on a comparable structure basis) to €55.3 million for 30.8% of Group sales.
The strong growth in this half-year is mainly due for BS Vision to a change in the split of sales, stronger for the first half 2003 than in 2002. The impact on Group sales growth represents 6 pts.
In addition, the sales/rental of structures and sales of modular systems is meeting good commercial success and encouraging contacts have been developed in Great Britain and Spain.
Sales for the year: GL confirm its objective of consolidated sales growth over 10% for the year 2003, this within an uncertain economic environment but with the implementation of synergies between core businesses and successful integration of recent acquisitions.
Result as at June 30th, 2003: the consolidated companies profit (before goodwill) should show an increase of 30% compared to June 30th, 2002. This despite a decrease of the operational margin of BS Vision due to the high level of activity and related increase in subcontracting costs compared to the first half of 2002.
Next rendez-vous: publication of first half-year results on 9 September 2003 and presentation meeting on 10 September 2003.
GL events, bringing people together
Managing Director Corporate Finances and Administration : Erick ROSTAGNAT
Telephone : + 33 4 72 31 54 20
Fax : + 33 4 26 20 42 00
Email : firstname.lastname@example.org
Code ISIN : FR0000066672
Code Bloomberg : GLO FP
Code Reuter : GLTN.PA
Code FTSE : 581