GL events
Welcome to the world of events!
As a leading global player in the events sector, GL events operates in the three main events markets: congresses and conventions, sporting, cultural and political events, and trade shows and consumer fairs.
© Odile Decq architect / Felice Varini – Nicolas Rodet
GL events
Commonwealth Games Gold Coast 2018
GL events, official supplier of temporary grandstand seating for the Gold Coast 2018 Commonwealth Games in Australia. A total of 60,000 temporary seats were installed in thirteen venues.
Commonwealth Games   Gold Coast 2018
Matmut Stadium Inauguration
The project to renovate and modernise the Matmut Stadium in Gerland, launched by Olivier Ginon, the Chairman of GL events, highlights the Group's expertise in terms of engineering, architecture and asset management. The stadium is now home to the LOU Rugby team.
© Nicolas Rodet
Matmut Stadium Inauguration
Geek and Games at the Riocentro
Brazil’s largest event devoted to pop culture and video games is organised and hosted by GL events at the Riocentro, in Rio de Janeiro.
© Light Press 2017
Geek and Games at the Riocentro
Cannes Film Festival
For more than 20 years, GL events has been providing top-of-the-range, tailor-made services for one of the world's most prestigious film festivals.
© Alexandra Fleurantin
Cannes Film Festival
Equita Lyon
The Lyon Equestrian Show, organised and hosted by GL events at Eurexpo, is the largest indoor equestrian event in France.
© Gilles Galoyer
Equita Lyon
"Nuits Sonores" Music Festival
GL events provides the audiovisual services for this major electronic music festival!
© Laure Rousville
"Nuits Sonores" Music Festival
Sirha Green
The first trade fair devoted to ecological food-services. Organised and hosted by GL events, the event brings together the sector’s professionals to address the issues of social and environmental responsibility.
© Diph Photography
Sirha Green
Première Vision Paris
Organised and hosted by GL events, the reference event for the fashion world was held at the Maison de la Mutualité in Paris. It owes its success to its avant-garde selection, bringing together many new products, services and innovations.
© Alexandra Fleurantin
Première Vision Paris
Light Festival Lyon
GL events Audiovisual, an official partner and service provider to the Lyon Light Festival, draws on its expertise and talent for several artistic projects in various venues during this international event.
© Thierry Perre / Partners’ Club of the ‘Fête des Lumières’ / Lyon Light Festival 2017
Light Festival Lyon
Back to Press releases 2007

2007 first-half results
Net sales: +32.6% - Operating profit: +49.3%

                                     

SALES GROWTH AND GAINS IN MARGIN IN THE FIRST HALF

M€H1 2007H1 2006Change
Net sales 333,9 251,9 +32,6%
Operating profit 31,0 20,8 +49,3%
Operating margin 9,3% 8,3% -
Net financial expense (1,4) (1,6) -
Income before taxes 29,6 19,2  
Tax (9,4) (5,9) -
Net income of fully consolidated subsidiaries 20,2 13,4 +50,9%
Equity-accounted investments 0,1 (0,2) -
Net income before minority interests 20,3 13,1 +54,5%
Minority interests (3,1) (1,0) -
Net income 17,2 12,1 +41,6%

In the 2007 first half GL events sales rose 32.6% over the equivalent prior year period to €333.9 million. At comparable structure and exchange rates sales grew 28.5%.

Venue and event management accounted for 52% of first-half sales for €172 million, up 53.5%. Synergies between the Group's two complementary businesses and presence of GL events on major events such as the World Cup of Cricket boosted the performance of Services. As a result, the latter grew 15.8% in the period to €162 million.

Operating profit totalled €31 million, advancing 49.3% compared to H1 06, accompanied by a one point gain in the operating margin to 9.3%:
- Venue and event management pursued its expansion with an operating margin of 15.9%.
- Services remain superficially affected by the recognition of part of its margin under the results of the Venue and event management division (for services sold through the venues). Operating profit of the business totalled €3.7 million or 2.3% of sales. The Group has moreover taken measures to improve the margin of the activity of installations that registered a decline in the first half.

Benefiting from an effective management of financial charges, net income of fully consolidated subsidiaries increased 50.9% giving a net margin of 6%.

 

CASH FLOW AND BALANCE SHEET AT 30 JUNE 2007

Cash flow increased 27% to €30.5 million. Use of working capital totalled €14.6 million in the first half, reflecting the seasonal trends of GL events' activity. Operating cash flow totalled €21.9 million. In the first half, the Group made significant capital expenditures for €30 million, notably for Venue and event Management in Rio de Janeiro and Budapest.

The positive performances in the first half 2007 strengthened the balance sheet of GL events at 30 June. Shareholders' equity totalled €224.9 million with borrowings of €79.3 million for a gearing of 35%. The continued expansion of venue management enables the group to progressively build up working capital funds (negative WCR) that totalled €45.6 million at 30 June.

After taking into account the acquisitions of Agor and Promotor, finalized in July, borrowings of GL events totalled €257 million at 31 August 2007 for a gearing of 112%.


GL EVENTS SIGNED THE MANAGEMENT OF AN EXCEPTIONAL SITE IN THE HEART OF PARIS

GL events signed the management of the Hôtel Salomon de Rothschild in partnership with Ludéric Evénements. Located in the heart of Paris 8th, this 1.400 m² venue includes a garden of 2.200 m². The Hôtel Salomon de Rothschild represents an exceptional historical site for the hosting of corporate and cultural events.

Currently under renovation, the site will be re-opened in September 2008 and should generate sales on a full-year basis of €6 million. It will benefit from the Group's event organization resources and its proximity to major customers to promote the qualities of the venue.

This new concession strengthens the Group's position in the French capital, increasing the portfolio of venues held or managed by the Group to 24, representing total available space of 976.000 m².

 

CONFIRMATION OF 2007 OBJECTIVES

GL events is a contributor to the Rugby World Cup, having been selected for three calls for tender for temporary installations, including the hospitality facilities for the Stade de France and 12 cities currently hosting the events (France + Cardiff and Edinburg). In the second half, GL events will produce, among others, one of the major events in Brazil, the Biennial International Book Fair of Rio de Janeiro, in Italy the Flormart International Exhibition of Gardening and Floriculture in Padua and in France the Equita International Horse Show in Lyon.

The Group maintains its targets for 2007 for:
- Sales growth of 25% or annual sales of €620 million
- Gains in margins.

 

Upcoming events:
2007 third-quarter sales: 23 October 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 : infos.finance@gl-events.com


Code ISIN : FR0000066672
Code Bloomberg : GLO FP
Code Reuter : GLTN.PA
Code FTSE : 581
Code LEI : 9695002PXZMQNBPY2P44

Contacts

Erick Rostagnat - Managing Director Corporate Finances and Administration:
info.finance@gl-events.com
Tel : +33(0)4 72 31 54 20

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