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
Two new venues added: Vannes and Padua Exhibition Centers
|Net sales in millions of euros||2004||2003||Change|
For 2004, the Group announced growth in net sales of 4.6% (1.3% at constant structure and exchange rates). Excluding the impact of Fittings, sales surged 13.7% (9.7% at constant structure and exchange rates).
Because of excellent full-year performances by core businesses, the Group anticipates significant improvements in margins and net profit growth exceeding 8% (provisional unaudited results).
With international operations accounting for 30% of sales, GL events has confirmed its ability to develop in the segment of large international events and venue management, a major contributor of recurrent revenue, as well as by strengthening its subsidiaries in other countries, notably in the United Kingdom.
Global services for trade shows, exhibitions and events
€200.0 million or +6.7% (+5.5% at constant structure and exchange rates)
Global services for trade shows, exhibitions and events registered further gains driven by contributions from major recurrent trade shows and exhibitions and strong growth from large events. Recognized for the quality of its comprehensive offering of value-added services, GL events renewed for an additional three years service agreements with REED Exhibition, the world's leading organiser of trade and consumer exhibitions, and with Richemont Group for the SIHH, the international fine watchmaking exhibition.
Fittings, systems and services for enterprises
€73.1 million or -21.1% at constant structure and exchange rates
Following restructuring measures, Fittings, Systems and Services for Enterprises has been integrated into the Global Services division specialized in permanent and semipermanent installations. Excluding fittings, sales advanced 11%. The sale and long-term leasing of temporary structures achieved gains of between 2% and 7%.
Venue and Event Management:
€82.4 million in 2004 or 23.2% of total sales
+38.1% (+20.1% at constant structure and exchange rates)
This division, the Group's strategic growth driver, benefited from excellent performances by the Clermont Ferrand and Paris Floral Park venues, the development of Europa Organisation and the integration of Market Place.
Addition of the Vannes Exhibition Center to the portfolio of venues
GL events announced the acquisition of CHORUS, charged with managing the Vannes Exhibition Center until 2010 under a public service management agreement (contrat de délégation de service public) (annual sales of €1.6 million).
Following the recent announcement of the addition of the Padua Exhibition Center in Italy (press release of 4 February 2004 - annual sales of €20 million), this latest addition increases the number of venues managed by the Group to 13.
PadovaFiere, assuring the venue's operational management with exhibition halls of 70,000 m², every year hosts more than 600 trade shows, exhibitions and events representing 11,000 exhibitors and welcoming 730,000 visitors.
- For Global Services, 2005 will be marked by the development of Temp-A-Store in the United Kingdom, participation in the Superbowl final and the Test Events for the Turin Olympic Games (with the Group already a candidate to provide event services for the 2006 Winter Games). With the restructuring of the Fittings business now completed, 2005 will moreover no longer be subject to an unfavourable basis effect for sales.
- For Venue and Event management, 2005 will be marked by the full-year consolidation of Market Place, the first full year of operations for the Barcelona International Convention Center with forecasted sale of €20 million.
The Group also confirms dual objective of adding two new venues per year and strengthening the event organization activity through additional acquisitions.
2004 earnings and 2005 sales guidance: 15 March 2005 (after the close of trading)
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