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 million euros||2001 (1) ||2000 (2)
|Consolidated net sales||235,0||214,1|
|Net financial charge||-2,6||-1,2|
|Exceptional profit / (loss)||0,1||-2,2|
|Net consolidated group profit||9,2||8,5|
|in % of the net sales||3,91%||3,97%|
(1) The change in the operating agreement of the Convention Center of Lyon into a "concession" in 2001 has generated a structural rental charge of 1.1m€ which did not exist in 2000.
(2) 2000: excluding capital gain Paris Expo
Lyon, 5 March 2002
Steady net profitability
In a difficult economic situation and after an exceptional year 2000 (Net sales: +46% with +35% in internal growth), the activity in 2001 shows a progression (+9.8% at 235 m€) and the net profitability remained stable at 3.9% of the net sales.
These achievements are the result of the signature of numerous medium-term contracts and an improved breakdown of the activities, which helped to increase the recurrent share of the net sales.
The slow-down in the economy has nevertheless affected the activity of short-term rental of structures (event sector). The impact on the operating profit is -1.5m€ in 2001. The other Group activities post a normal level of profitability.
The Board of Directors, which met on 4 March 2002, decided to propose to the Annual General Meeting of the 20th of June a payment of dividend of euros; 0.28 per share (off tax credit).
An emerging business: Venue management
True to its role of an " Assembling Group ", Générale Location develops its activity of Venue management by signing new contracts such as the Convention Centers of Toulouse (10 years) and Barcelona (20 years). Factor of long-term visibility, this 4th sector also acts as a relay of growth for the other activities of the Group meant to work in complementarity. This new activity should represent 25% of the net sales of the Group within 5 years.
The beginning of the year 2002 was marked by the signature of several important contracts both in term of reputation and source of revenues.
- World Cup of Football in Korea (temporary structures and fittings): 3.5m€
- Commonwealth Games in July 2002: (provision of temporary structures and furniture): 4m€
- The opening of an office in Barcelona to ensure the pre-commercialization of the Convention Center and the development of the provision of services,
- Skill Festival- (Manchester): 3m€
- Presence of Générale Location on 7 F1 Grand Prix (3 in 2001)
- 17.000m² temporary exhibition hall at the Bourget (contract for at least one year)
The commercial dynamism relies on the strength of the Group's economic model: 4 complementary activities allowing Générale Location to be present on the entire communication by event business as well as granting it a significant edge over the competition when answering national and international calls for tender.
The reinforcement of the Fittings activity with the acquisition of BS Vision will make it possible for the Group to achieve more than 20% of its sales in this sector.
For 2002, Générale Location foresees at least a 20% increase in sales including external growth.
Next meeting: First quarter net sales, 7 May 2002
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 : email@example.com
Code ISIN : FR0000066672
Code Bloomberg : GLO FP
Code Reuter : GLTN.PA
Code FTSE : 581