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
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 Sonores
The 2016 Nuits Sonores are equipped by GL events Audiovisual.
© Laure Rousville
Nuits Sonores
Sao Paulo Expo inauguration
The inauguration of the expanded and renovated Sao Paulo Expo on 26 April was attended by more than 500 economic decision-makers.
© Rodrigo Lopes/studiolopes.com
Sao Paulo Expo inauguration
COP 21
The aim of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP21) was to negotiate a new universal agreement on climate change, in order to maintain global warming below 2°C. GL events supplied and assembled structures for this key event, and also provided audiovisual services, fixtures and fittings for the event spaces.
© Philippe Cler
COP 21
African Games
The Live! by GL events agency was in charge of organising the spectacular closing ceremony for the African Games.
© Myli Bourigault et Pierre Le Tulzo / Live! by GL events
African Games
Video City Paris
Organised by the producers of the Golden Moustache (M6 TV channel), the Studio Bagel (Canal+ TV channel) and Mixicom, in collaboration with Live! by GL events, Vidéo City brought together around a hundred of the most popular YouTube video creators. A genuine success!
© Philippe Cler
Video City Paris
Maison de la Mutualité
The Maison de la Mutualité was the former headquarters of the French mutual insurance federation . The venue has been managed by GL events since 2010. The Group has renovated the building to return it to its former glory. Today, the venue hosts all types of events, from business meetings and exhibitions to fashion parades.
Maison de la Mutualité
Equita
This is an event that horse-riding fans look forward to every year. Organised by GL events, Equita is the largest equestrian show in France. Each year, around 3,500 horses take part in the event which attracts over 150,000 visitors.
© PSV – Jean Morel
Equita
IMF and the World Bank
The Boards of Governors of the IMF and the World Bank met in Lima (Peru) this year to establish the main priorities and focuses for the two institutions. The production of this large-scale event was entrusted to a consortium made up of GL events and the event agency Stimulus.
© Joao Socola
IMF and the World Bank
Absolute
Spacious, elegant and with impeccable finishing, Absolute Triple Deck is an exceptional structure that combines robustness and aesthetics. Providing more than 25% additional interior surface area, this new events structure takes standards in excellence to a whole new level.
© Detail Ltd
Absolute
Back to Press releases 2012

EXCELLENT GROWTH MOMENTUM AND RESULTS FOR GL EVENTS IN 2012 FIRST HALF

Full-year targets raised

 

EXCELLENT GROWTH MOMENTUM

 

GL events had revenue in the first half of €435 million, up 11.4% like-for-like (1), with €30.2 million in Operating Profit and €17.1 million in Net Income attributable to the Group.

Despite an unfavourable comparison base for the first half from the biennial schedule of the International Hotel, Catering and Food Trade Exhibition (SIRHA) and very high levels for H1 revenue in 2010 and 2011, the Group continued its expansion, through:
- Its European leadership, to maintain a good volume of recurrent business;
- Positions in the most attractive business tourism destinations such as Brazil, Turkey, Africa, the Middle East and China;
- A full line-up including some of the largest global events: the Group successfully met the needs of customers for all major events held in the first half as an organiser and/or provider of overlay solutions for the Africa Cup of Nations and 2012 UEFA European Football Championships and the London Olympic Games.

The Live and Venues business units delivered particularly satisfactory performances with like-for-like growth of respectively 21.6% and 14.5%. The Exhibitions business unit posted a limited decline, in line with expectations, reflecting the biennial scheduling of SIRHA and the disposal of Trade Fair assets (-€6.7 million).

 

 

 

EXCELLENT EARNINGS TRENDS

 

The Group's overall profitability improved significantly in the 2012 first half. Consolidated operating profit for the first half amounted to €30.2 million with an operating margin at 6.9%. Adjusting for the €3.5 million capital gain from the disposal of Trade Fair assets in the 2011 first half, Operating Profit was up 19.4% and Net Income attributable to the Group 52.6%.

Operating Profit for GL events Live increased threefold to €15.4 million with positive contributions from its presence at all major global events and good project management. The Group has invested €40 million in this activity, notably for structures and grandstands for the London Olympic Games.

The Group also registered good performances for proprietary Trade Fairs through its strategy of replication in emerging powers (Brazil, Gulf Region, Russia, China); the drop in revenue (-19.4%) and Operating Profit for GL events Exhibitions is linked exclusively to the biennial effect and the capital gains mentioned above.

GL events Venues posted good revenue growth (+12.6%) and gains in operating profit (+13.4%). The operating margin came to 7.4%, while the Group's Paris venues have not yet reached target levels in terms of operating performances, compounded by adverse impacts from the Budapest and Italian sites.

With a decline in Net Financial Expense to €4.4 million and a €1 million loss allocated to Non-Controlling Interests, Net Income Attributable to the Group came to €17.1 million.

Cash flow amounted to €50.7 million. The net source of funds at 30 June 2012 rose to €80.3 million (from €64.9 million at 31 December 2011).

On this growth in net income, shareholders' equity rose to €346.3 million. The Group had capital expenditures of €40 million for rental equipment in the first half, mainly for the London Olympic Games, and financed in part from Net Financial Debt, up €20 million to €260.7 million. At 30 June 2012, gearing amounted to 0.75 though remained under control.

 

Consolidated income statement data (€m)H1 11H1 11
Excl. capital gains
H1 12S1 12/11 Excl. capital gains
Revenue 383.9 383.9 435.0 +13.3%
Operating profit 28.8 25.3 30.2 +19.4%
Operating margin 7.5% 6.6% 6.9% +0.3 pt
Net financial expense (5.5) (5.5) (4.4)  
Profit before income tax 23.3 19.8 25.8 +30.3%
Income tax (6.7) (5.9) (8.0)  
Net income of consolidated operations 16.6 13.9 17.8 +28.1%
Income from equity-accounted investments 0.2 0.3 0.2  
Net income before non-controlling interests 16.9 14.2 18.1 +27.5%
Non-controlling interests (3.0) (3.0) (1.0)  
Net income attributable to the Group 13.9 11.2 17.1 +52.6%

 

 

 

STRATEGY FOR STRONG ACCELERATION IN BRAZIL

 

The combination of economic development and unprecedented line-up of major events between now and 2016 (World Youth Day of Rio 2013, FIFA Confederations Cup 2013 and World Cup 2014, 2016 Rio de Janeiro Olympic Games) make Brazil an exceptional destination for business tourism. Building on the successful presence of its three main businesses in Brazil since 2006, GL events is fully equipped to continue its rapid, solid and sustained development in this market.

 

 

 

STRATEGY & OUTLOOK

 

In the 2012 second half, GL events will:
- Stage the Pollutec environmental technology trade fair, the Metz trade fair, the Mutualité Française Convention in Nice or the Rio Oil & Gas Expo;
- Organise the Première Vision Paris and Shanghai fabric shows, the food industry CFIA packaging and technologies trade fair in Casablanca, Casa Su Misura in Padua, and Equita Lyon, the Omnivore World Tour in Istanbul and Sydney, Piscine Lyon;
- Equip the City Events in Lausanne.

Based on commercial performances in the first six months and orders for the second half, the Group has raised its guidance for full-year sales to €820 million.

In subsequent periods, the Group intends to leverage its status as a major player in Europe to optimise management of its costs and margins and accelerate its expansion into other international regions, with very solid foundations, mainly in "emerging powers" such as Brazil, Turkey, Africa, Gulf countries, Russia and China, all offering remarkable potential for business tourism and that will host major global events in the years ahead.

 

(1) Organic growth defined as at constant structure and exchange rates

 

 

 

Upcoming events:
Third-quarter sales, 16 October 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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