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
The Group consolidates its position as a major partner of leading worldwide sports events.
FY 2010 growth target raised to more than 15%.
A major new contract for GL events in the large sports events segment
The Delhi Development Authority and the Organising Committee have signed with GL events and its Indian partner Litmus two contracts for the provision of services for a total value of €32 million for the 2010 edition of the Commonwealth Games to be held in Delhi, India, between 3 and 14 October.
These Games that are organised every four years bring together athletes from Commonwealth countries representing 17 disciplines including notably athletics, swimming, cycling, boxing, rugby and gymnastics. The contract awarded to the joint-venture 70%-held by GL events provides for the provision of temporary structures and installation services for 10 sites in Delhi including the Games Village, the new international airport and the Pragati Maidan exhibition and convention centre.
Already a contributor to the Africa Cup of Nations in Angola, the FIFA Confederations Cup TM and the FIFA 2010 World Cup South Africa TM in South Africa, this contract for the Commonwealth Games, confirms GL events' position as a world-class partner for major international sports events. It also further demonstrates its ability to propose event solutions of quality in host countries with strong developing economies.
The Group will furthermore seek to leverage this contract to accelerate its development in India, a market of high potential for major sports events as well as for corporate events and business tourism.
New target for revenue growth of more than 15%
This major new contract further contributes to the Group's prospects for strong growth in 2010.
With this latest success, GL events now expects annual revenue for 2010 to grow more than 15% to exceed €670 million.
Strong commercial positions with a very promising pipeline for major global events
With its high-quality offering and an increasingly strong international brand name, GL events intends to build on its track record to pursue opportunities with major customers for upcoming major events.
The calendar for 2011-2012 appears very promising for events requiring large-scale solutions for temporary installations and engineering. These include notably the 2011 ICC Cricket World Cup in India, Sri Lanka and Bangladesh, the 2011 Rugby Cup in New Zealand, the 2011 World Championships in Athletics in South Korea, the Test Events in London 2011, in preparation for the 2012 Summer Olympic Games, the Africa Cup of Nations in January 2012 in Gabon and Equatorial Guinea, the UEFA 2012 TM EURO Football Championship in Ukraine and Poland, etc.
A strategy of continued international expansion
Following the model deployed for development in India, the Group intends to accelerate its strategy of international expansion by focusing on the most attractive "destinations". This objective will be pursued both through Services for large events and by reinforcing the local network of the Venue Management and Events business, along the lines of the strategy applied in Brazil that should permit the Group to prepare for the FIFA World Cup Brazil TM and the Rio 2016 Summer Olympic Games under optimal conditions.
2010 half-year results, Thursday, 29 July 2010 (after the close of trading)
Information Meeting, 29 July 2010, 5:45 pm, Hôtel Salomon de Rothschild - Paris
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
Erick Rostagnat - Managing Director Corporate Finances and Administration:
Tel : +33(0)4 72 31 54 20