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||Change|
For the first nine months of 2003, Générale Location recorded sales of €250.6 million, up 19.3% (+14.5% at constant structure and exchange rates).
Global services for trade shows, exhibitions and events:
Nine-month sales of €135.8 million versus €130.1 million,
growing 4.4% (+5.9% at constant structure and exchange rates)
Revenue from recurrent services provided under multiyear contracts for conventions-exhibitions was supplemented by GL's participation in the first nine months in the Franco-African summit (Paris), the G8 meeting (Evian), the summit of European Heads of State in Greece, the World Athletic Championship (Paris), the Test Events for the Athens Olympic Games and currently the All African Games held in Nigeria bringing together more than 6,000 athletes.
Venue and event management:
Nine-month sales of €41.7 million versus €18.8 million in 2002,
surging 122% (including organic growth of 58%)
Strong growth in sales reflects both the contribution from Cofrata and excellent performances from venues managed by GL and including particularly strong performances from the Floral Park of Paris and the Toulouse Convention and Exhibition Center. Growth should remain sustained, and will be boosted starting year-end by the contributions of the Grande Halle d'Auvergne and the Barcelona International Convention Center in 2004.
Fittings, museum fittings, systems:
Nine-month sales up 19.4% to €73.2 million versus €61.3 million in 2002.
In line with forecasts, in the first nine months the Group achieved a very satisfactory level of growth. Business for the sale and leasing of structures and modular systems remained particularly strong. Furthermore, reflecting the Group's focus on achieving synergies, GL has already announced the delivery of a training building for the Turin Olympic Games in 2006.
Given the good level of sales in the third-quarter and the estimation for the 4th quarter, Générale Location forecasts full year growth of approximately 12% to 13%.
For 2004, the level of activity in the market of large international events should surpass 2003.
GL in addition confirms its participation in a bid, in partnership with the Eiffage group, to manage the venue of the Grand Palais de Paris.
Pursuant to the approval of the extraordinary shareholders'meeting of 20 October,Générale Location will become GL events on 3 November of this year.
(Financial market codes and symbols will not change)
Next event: publication of annual sales on 11 February 2004.
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