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
|In millions of French Francs||30/06/99||30/06/98||Progression|
|Operating income before depreciation and amortization||77.2||65.7||+17.5%|
|Income before exceptional items and income taxes||26.4||21.0||+25.7%|
|Net consolidated group profit||13.2||9.4||+40.4%|
An extremely satisfying level of activity
Net sales for the first semester for the current fiscal year come to FFr 470 million (€ 71.7 million) up 3.1 % over the previous year. Let us recall that the sales for the second semester in 1998 included FFr 88 million (€ 13.4 million) linked to the World Cup of Football. Taking into account the deduction of this amount from the whole, net sales for the first semester 1999 with constant scope and exchange rate show an increase of more than 16%.
The operating income before depreciation and amortization greatly improves with a 17.5% increase. On a financial point of view, this improvement directly affects the cashflow going from FFr 46.9 million (€ 7.2 million) in 1998 to FFr 57.3 million (€ 8.7 million) for the first semester in 1999, that is a 22% increase.
After depreciation and amortization, the operating profit amounts to FFr 33.2 million (€ 5.1 million), a 6% increase. In consequence and with the double surge of the capital increase realized at the end of the year 1998 on one hand and the control of the debt on the other, the income before exceptional items and income taxes shows an increase of 25.7%.
The net consolidated group profit at June 30, 1999 comes to FFr 13.2 million (€ 2.02 million) up 40% over the result at June 30, 1998.
Intensifying business in France as well as worldwide
Notably present on the international markets which are in constant evolution, Générale Location, while always eager to reinforce its position as Europe's leader thanks to recurrent contracts, has achieved great performances.
In the business segment of shows / exhibitions, Générale Location has multiplied contracts at bi-annual exhibitions (Sirha or BATIMAT), at very well-known shows (Prêt à porter, Maison & Objets, furniture Show?) as well as at other traveling shows (EMO, ITMA, Geneva Telecom, Philex...).
In the world of events, Générale Location strengthens its position and will thus participate for example at the Formula One Grand Prix in Malaysia, at America's Cup, at the Hand-over Ceremony in Macao and more recently at the World Ploughing Contest.
The group's strategy of seeking major accounts well launched already in the business segment of fittings and museum fittings, has amplified with the signature of reference contracts such as the one signed with American Airlines (fitting of Roissy terminal) or the one with Eridania Beghin Say.
Générale Location holds 19.95% of Paris Expo capital.
Générale Location plans to pursue a growth in a two-digit figure by the end of 1999.
Future steps in communication
- As soon as tomorrow it will be possible to check the presentation of the bi-annual results on our Internet Web site.
- Net sales publication for the 3rd term November 9th 1999
- Net sales publication for the 4th term February 9th 2000.
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