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
|Consolidated sales (in € millions)||2004||2003||Change|
In the 2004 first half, GL events had sales of €181.7 million, up 1.2% (0.6% at constant structure and exchange rates). Excluding fittings, the Group's strategic businesses (global services for trade shows, exhibitions and events, venue and event management, systems and services for enterprises) registered organic growth of 12%.
Global services for trade shows, exhibitions and events
€94.5 million or 52.1% of consolidated sales
up 5.1% (5.3% at constant structure and exchange rates)
The businesses of this division achieved very satisfactory growth. In addition to services for trade shows and recurring events, noteworthy accomplishments of the first half included the Group's participation in the Barcelona Forum of Cultures and major progress in the preparation of the Athens Olympic Games.
Venue and event management
€47.2 million or 26% of total sales
up 38.3% (33.2% at constant structure)
The Group benefited from the development of the venues of the Grande Halle d'Auvergne, the Zénith of Clermont-Ferrand that in May celebrated its 200,000th guest, and the Floral Park. In addition, event and convention engineering and management services continued to show strong growth. An acquisition in this sector is expected to be announced shortly.
Fittings-Systems and Services for enterprises
€39.9 million or 21.9% of total sales
down 27.9% (at constant structure)
With a maximum basis effect in the first half, sales for fittings (34% of this division) declined 55% in this period. With an operational reorganization currently in progress, this business adversely affected total sales of the division whose other businesses registered positive performances in term of sales and profitability. In response to these latter trends, the Group intends to strengthen its presence in the growth market of "Services for enterprises" with an acquisition before the end of the third quarter of this year.
The Group maintains its growth target for 2004 annual sales of 5%.
Net consolidated income for the 2004 first half is expected to grow by around 9%
Upcoming events : publication of first-half earnings on 7 September 2004 (after the close of trading) to be followed by the meeting and presentation of results on 8 September 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