GL events
Welcome to the world of events.
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
COP22
GL events provides the installations for COP22 in Marrakech from 7 to 18 November 2016.
The largest temporary installation ever produced.
© Architecte OUALALOU+CHOI
COP22
GL events enters into a joint venture
with Yuexiu Group
to jointly develop a network of event sites in China. The first phase will consist in managing a 50,000 m2 convention centre in Gangzhou (Canton), targeted for opening in 2019.
© 效果图│ Renderings
GL events enters into a joint venture<BR>with Yuexiu Group
Euro 2016
Fan Zone in Lyon
A total surface area of 62,000m2 and 25,000 people a day; the Fan Zone in Lyon managed by GL events was the official home of football and fun during the event.
© Nicolas Rodet
Euro 2016<BR>Fan Zone in Lyon
Brazil Game Show
The biggest game show in Latin America chose Sao Paulo Expo to host this year’s event, attended by 300,000 fans!
© @studioLopes
Brazil Game Show
Sport dans la Ville
GL events provided services to “Sport dans la Ville”, an association promoting social inclusion through sport, for the inauguration of its new premises.
© Gilles Fillot
Sport dans la Ville
Cannes Film Festival
For more than twenty years, GL events has been on the select guest list of the greatest film festival in the world, providing top-quality services for the event.
© Alexandra Fleurantin
Cannes Film Festival
Nuits de Fourvière
GL events has been a partner to this festival in Lyon for many years: sound systems, lighting, structures for the “Village des Nuits”.
© Francis Mainard
Nuits de Fourvière
Blossom
Designed as an upmarket showroom in the heart of Paris, the show is the ideal place to get a preview of the pre-collections of fabrics and accessories, in a select private environment.
© Stéphane Kossmann
Blossom
Nuits Sonores
GL events is the audiovisual services provider to this major electronic music festival!
© Laure Rousville
Nuits Sonores
Back to GL events press releases and financial news - 2011

Commonwealth games contract

GL events records an extraordinary provision for €16.3m

 

2012-2014: Group focus on continuing growth with a favourable calendar of events



Extraordinary provision of €16.3 million for the 2010 Commonwealth Games contract

 

On 19 December 2011, GL events' Board of Directors approved the general management's proposal to record a provision for the full amount of trade receivables unpaid to date for the Commonwealth Games owed by the Organising Committee and the Delhi Delivery Authority. These receivables represent a gross amount of €16.3 million or €11 million after tax.

The contract won by a 70%-held Group joint venture with a local partner provided for the delivery of temporary installations for 16 sports sites or facilities for athletes for the Commonwealth Games held from 3 to 14 October 2010. The high-quality execution of this contract was recognised by both Indian authorities and the international press present at this event.

However, Indian authorities have imposed a de facto freeze on payments to a significant number of international suppliers for services rendered in connection with this event following an inquiry conducted by the Central Bureau of Investigation for the purpose of confirming or dismissing claims of irregularities (as previously reported in GL events' registration document for fiscal 2010). No Group entities have been the target of legal actions.

Based on the application of strict procedures and the results of an internal investigation, in accordance with the terms of the contract, the dispute relating to this late payment was referred by the Group to the arbitration court and the New Delhi High Court. GL events intends in this way to demonstrate its full compliance with its contractual obligations and consequently the right for full payment of services rendered.

 

 

GL events confident about prospects for continuing expansion in emerging countries



Despite this dispute, the Group remains very confident about prospects for sustained development in emerging countries and, in line with its performances in recent years, a continued presence at major sports events on all continents.

 

 

GL events well-positioned for a positive calendar for events

 

Activity in the fourth quarter supports the Group's outlook for positive momentum in 2011 with expectations for sales of more than €770 million accompanied by growth in operating profit before the impact of this provision.

This allowance for contingencies has no impact on calculations for bank leverage covenant and a very small impact on the gearing.

Over the longer term, the Group will pursue its expansion, confirming its leadership position through team commitment, high-quality assets and a very strong brand name as it prepares for a significant year ahead in 2012 for world class events as well as major projects during pre-World Cup and pre-Olympic years.

 

 

Upcoming events:
2011 revenue: 31st January 2012 (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

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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Annual report -
Registration document 2015


Company report
2015


2011 press releases archives