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
RESULTS FOR THE FIRST SIX MONTHS
Générale Location posts net sales progression of 22.7 %, which reach € 113m.
Summarized income statement
|In million Euros||30 June 2001||30 June 2000|
|in % of net sales||6,90%||6,84%|
|Net consolidated group profit||4,6||3,6*|
* excluding exceptional major items : Paris expo, Morocco, Spain
Net cashflow excluding working capital movements in strong progression : + 32.7 %
|30 June 2001||30 June 2000|
|In million Euros||13,8||10,4|
|In % of net sales||12,21 %||11,29 %|
A stable EBITDA
With constant scope, the operating profit -before depreciation and bringing forward of amortization and provisions (EBITDA) - is stable at 14.20 %
STRUCTURALLY SOLID FOUNDATIONS
Générale Location is present on three markets which are well oriented and lasting, at the national level as well as the international level:
- Shows / Exhibitions
- Fittings / Museum fittings
It owes its success to a unique business model which can be summed up as follows:
- The choice to be an assembler
- The presentation of a globalized offer
- An external growth full of dynamism which will be pursued according to a double entrance strategy:
- Widening of the offer
- Gains of market shares
- The service culture always at the heart of the process
- A critical size and a good reputation, solid assets providing confidence to the principals.
PROPECTS FOR 2001
As at 13 September, the portfolio of contracts signed comes to E 238m, that is an 11% increase compared to the amount posted for the whole year 2000.
Générale Location is waiting for additional net sales during the course of the last term of the year, a period known to generate at times more than half of its annual net sales.
Within the framework of a world economic and political activity both particularly in turmoil, which could possibly disrupt for a time our markets, and taking into account signature dates for acquisitions which could be postponed in time, Générale Location is forecasting an annual growth around + 15 to + 20 %.
During the course of the second half of the year, Générale Location will be present:
- At prestigious events such as:
- The Asian Games in Kuala Lumpur
- The Mediterranean Games in Tunis
- And the Summit for the French speaking World in Beirut.
- At shows of world renown such as:
- Maison & Objets in Villepinte
- Première Vision
Moreover, during the summer, the Group signed all its contracts valid for several years, coming due for renewal this year, and representing a volume of activity worth for the years to come € 135m.
Générale Location pursues its policy of internationalization concerning its activities with the acquisition of OWEN BROWN present on the British market.
The activity of the sale of modular products meant for the exhibition markets which represented net sales close to € 2m in 1999, € 12m in 2000, will reach its objective of € 25m for the year 2001
* * *
Within the framework of a program of shares buy-back which was decided on by the Annual General Meeting which met on 9 June 2000 under its fifth resolution, a contract of liquidity on the company shares, in accordance with the Chart of Ethic Rules established by AEFI and approved by the Securities and Exchange Commission, was signed with the CIC EIFB on 31 August 2001.
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