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
Accelerated growth expected in 2007
|First quarter||126,4||100,6||+ 25,7%|
|Second quarter||125,5||119,5||+ 5,0%|
|Third quarter||89,5||85,3||+ 4,9%|
|Fourth quarter||154,3||128,8||+ 19,8%|
|Consolidated annual sales||495,7||434,2||+ 14,2%|
GL events had sales of €154.3 million in the 2006 fourth quarter, advancing close to 20% over the equivalent prior-year period.
Full-year Group sales totalled €495.7 million (1/3 from international operations and 40% from Venue and Event Management), up 14.2% in line with guidance (+7% at comparable structure and exchange rates). On this basis, the Group expects further improvements in operating and net margins in 2006 (provisional unaudited results).
Venue and Event Management
€199.3 million or 40.2% of 2006 sales, up 33.7%
(+11.1% at comparable structure and exchange rates)
GL events accelerated the expansion of its network of venues under management both in France (adding Metz and Nice) and outside Europe (Rio de Janeiro and Shanghai). As a result, the Group now owns or operates 19 venues worldwide that hosted more than 2,600 events and 10 million visitors and convention-goers. This assures GL events a unique offering in the event communications market through a complementary fit of venues and a focus on growth destinations for business tourism.
At the same time, GL events has strengthened its position as an events organizer with Fagga Eventos in Brazil (trade shows and business conventions), Kobé in Lyon (medical conventions), and Sepelcom (SIRHA Catering and Food Trade Exhibition, Lyon International Fair, the World Swimming Pool Show, etc.). With more than 200 trade shows organized in 2006, the Group has confirmed the growth momentum of this segment, contributing to margins and synergies between the network of venues and services.
Through a project team bringing together the full range of Group expertise, GL events was selected to organize, promote and manage the XXXIIIth Annual Conference of the International Organization of Securities Commissions (IOSCO) that includes the Autorité des Marchés Financiers of France. This event that should generate revenue for the Group of €2.5 million will be held on 25 to 29 May 2008 at the Palais des Congrès in Paris.
€296.4 million or 59.8% of 2006 consolidated sales, up 4%
(+4.5% at comparable structure and exchange rates)
Services in the period had particularly robust sales of approximately €300 million, one third from international activity. With its extensive range of expertise and flexible offering, GL events has contributed to both large worldwide events (Melbourne Commonwealth games, the Six Nations Championship, World Football Cup) and more than 3,500 events of every size and dimension throughout the world.
The period was also marked by several new contracts further enhancing growth prospects and visibility for sales in 2007 and 2008: Pan-American Games in Rio de Janeiro, ICC Cricket World Cup in the West Indies or the 2008 Beijing Olympic Games.
Outlook: 2007 sales target of €600 million
The rapid expansion of Venue and Event Management and the performance of Services should fuel significant and sustainable earnings growth.
In 2007, GL events will include full year contributions of the Nice Exhibition and Convention Centre, Metz Metropolitan Region Exhibition Centre, RioCentro and Eurexpo, Lyon Convention and Exhibition Centre. The Group will pursue synergies across teams and event engineering specializations. The next Pan-American Games to be held in July 2007 at RioCentro and the organization of the IOSCO Conference represent good illustrations.
In addition, the Group will continue to invest in enhancing its organization and human and material resources with a focus for its customers on quality and for companies and expertise added on performance. In compliance with its development plan, GL events continues to study growth opportunities providing a fit with its strategy.
On this basis, and in line with its 2008 plan, GL events targets sales of €600 million or growth of 20% for 2007.
About GL events (www.gl-events.com): As a major event industry group, GL events' two strategic businesses cover event and venue management and integrated event engineering services. This enables it to offer public and private customers in France and throughout the world solutions fully adapted to the scope and needs of their projects. Present on five continents, GL events has approximately 3,000 employees.
2006 earnings - 13 March 2007 (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
Erick Rostagnat - Managing Director Corporate Finances and Administration:
Tel : +33(0)4 72 31 54 20