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
|1st semester 2000||1st semester 1999||Progression|
|Of which at the international||142.6||21.7||23.6%||45.7||7.0||9.4%
|Total of operating income||605.5||92.3||100.0%||484.0||73.8||100.0%
|Income before exceptional items and income taxes||39.2||6.0||6.5%||26.4||4.0||5.5%||48%|
|Net consolidated group profit||112.0||17.1||18.5%||13.3||2.0||2.7%||742%|
|Net consolidated group profit before exceptional items (including the Paris expo capital gain)||23.8||3.6||3.9%||14.1||21.1||2.9%||69%|
A sustained progression of the business activity
The first semester 2000 is marked by a strong progression of the business activity : net sales show a 29% increase (28% with constant scope and exchange rate), while the operating income increases by 25%.
The operating profit increases by 9 million French Francs (1.4 million Euros) and reaches 42.2 million French Francs (6.4 million Euros) that is 7% of the operating income in line with that of the first semester 1999.
Moreover, the improved financial result (especially due to the debt reduction resulting from the sale of the Paris expo shares in February 2000) allows the income before exceptional items and income taxes to increase by more than 48%.
After exceptional items and income tax, the net consolidated group profit reaches 112.0 million French Francs (17.1 million Euros) compared to the 13.3 million French Francs (2.0 million Euros) at 30 June 1999. Not taking into account the exceptional items and tax impacts linked to them, the progression of the net consolidated group profit which reaches 23.8 million French Francs (3.6 million Euros) ? is 69% compared to the one at 30 June 1999.
Prospects for the second semester
Acquisitions announced during the first six months of the fiscal year of the companies Standard Décoration and Groupe ISF will contribute from the second semester on to the increase of the activity of Générale Location, they integrate the scope of consolidation respectively on 1 July and 1 September 2000. Likewise the integration for the company SF Protection will be subjected to the approval of the General Meeting of the 29th of September 2000.
On that occasion, in payment of the contribution of the shares of the company SF Protection (93.59 % of the brought-over capital that is 661 050 shares). the shareholders will decide on the increase of capital of Générale Location (118 989 shares). In accordance with the parity of 9 Générale Location shares for 50 SF Protection shares with an additional 447.5 Euros for 50 brought-over shares.
Générale Location is currently finalizing the acquisitions of two companies overseas. The first one located in Northern Europe will join the pole Espace & Décor. Its net sales come to 50 million French Francs in the exhibition business. The second one located in South-East Asia and specialized in audiovisual equipment and services on shows and events will bring to Générale Location an additional 10 million French Francs to its yearly net sales.
Beyond being a boost in the activity, this acquisition reinforces Générale Location presence in the Asian Pacific area.
Based on this, Générale Location confirms a favorable progression of its activity for 2000 of more than 30% .
At the time of the closing of the yearly accounts on the coming December 31, the group will indicate in its annual report a provision for retirement indemnities, which were up to today shown as off balance sheet commitment and which were estimated to be between 7 and 9 million French Francs (1.1 and 1.4 million Euros) before corresponding tax impact.
Communication: up-coming meetings
Extraordinary general meeting on 29 September 2000 at 11 a.m. at Lyon Convention Center (Palais des Congrès).
Publication of net sales for the 3rd and 4th terms on 8 November 2000 and 7 February 2001.
Publication of the 2000 results on 8 March 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 : firstname.lastname@example.org
Code ISIN : FR0000066672
Code Bloomberg : GLO FP
Code Reuter : GLTN.PA
Code FTSE : 581