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
GL events had quarterly revenue of €224.2 million, up 17.4% (+6.7% like-for-like*). In an event market gradually picking up, Group momentum remained sustained in the first quarter, following a performance in 2010 of record 25% growth.
|Consolidated sales (€ millions)||2010||2011||
11/10 Change (%)
The Group pursued its development through a balanced mix of acquisitions and organic growth. GL events generated additional revenue of €14 million like-for-like or growth of 6.7%. The Group also benefited from the integration of Brelet and Slick in addition to its increasing stake in Première Vision that provided an overall contribution to revenue of €17 million in the first quarter.
In geographical terms, the Group benefited from solid international positions and its capacity to deploy its range of expertise across global markets. International operations continued to generate growth despite an unfavourable comparison base from the Africa Cup of Nations and the FIFA World CupTM 2010.
French operations added €32 million to achieve quarterly revenue of €147.6 million (+28%) on business volume from trade fairs including notably SIRHA (the International Hotel, Catering and Food Trade Exhibition), supplemented by contributions from acquisitions.
Revenue by business division broke down as follows:
|Consolidated sales (€ millions)||2010||2011||11/10 Change (%)|
|GL events Live||93.0||90.7||-2.5%|
|GL events Exhibitions||41.4||80.5||+94.6%|
|GL events Venues||56.5||53.0||-6.1%|
GL events Live (Event Organisation and Services for Events) had revenue of €90.7 million, down slightly 2.5% from the same quarter in 2010 that had included €14 million recognised by the Group from contracts for football competitions held in Africa.
Major events organised and equipped by the Group included the Africa Cup of Nations in Qatar, the RBS 6 Nations rugby championship and the G20 Global Financial Summit and seminar.
GL events Exhibitions (Trade Fair Organisation) also benefited from more positive trends for the organisation of trade fairs, good performances by SIRHA (a significant rise in the number of visitors, more than 10,000 chefs representing 136 countries, international development, growth in both French and international media coverage) and the Rendez-vous Bâtiment Energie Positive devoted to clean energy in the construction industry, both held in Lyon, and the Brazilian edition of the Première Vision fabrics fair.
GL events Venues (Venue Management) had revenue of €53 million with a decline as expected on seasonal effects.
Customers gradually are renewing their interest in convention centres and at 31 March orders for GL events Venues were at satisfactory levels for the coming quarters.
For this division as well, negotiations are in progress for major contracts that may also result in signatures in the coming weeks.
The Organising Committees of the 2011 Rugby Cup in New Zealand and the 2011 Pacific Games in New Caledonia both selected GL events to provide engineering services and installations for their events.
The Group will also be present at the Test Events 2011 held in preparation for the 2012 London Olympic Games.
After contributing to major worldwide events in 2010 (FIFA World CupTM, Commonwealth Games, World Expo), the Group has again confirmed its position as a partner of major global events, notably world-class sports events and major summits of Heads of State, based on the commitment of its teams, high-quality assets and a strong brand name.
On the strength of positive quarterly commercial performances, the Group expects balanced and profitable growth to continue 2011 through a judicious mix of acquisitions and organic growth. On that basis, GL events confirms targets for annual revenue of €770 million that takes into account a marginal deceleration expected in the second quarter.
* Like-for-like: comparable Group structure and constant exchange rates
Annual General Meeting, 29 April 2011 – Lyon Convention Centre.
Half-year results, 28 July 2011 (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