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
Venue and Event Management pursues its expansion in Europe
Following the recent additions of the Padua and Vannes exhibition centers in February 2005, GL events launches a new phase in the European expansion of its venue and event management activity with the acquisition of Hungexpo, owner of the Budapest Exhibition Center in Hungary.
Terms of the acquisition
Under the terms of the agreement with Hungary's privatization and state holding company (APV Rt), the consortium led by GL events will acquire 77% of Hungexpo. With its Hungarian partner, TriGranit, a real estate developer, GL events will have an 80% stake in the Hungexpo holding company created for this purpose. The city of Budapest, a minority shareholder of Hungexpo, retains the option to sell the remaining 23% stake.
Hungexpo owns the real estate assets of the exhibition center, the venue management and has its own portfolio of trade shows, exhibitions and events.
Hungexpo profile: comprehensive venue and event management solutions
Hungexpo has more than 35 years of experience in organizing and promoting major events in Hungary supported by expertise in event hospitality and the ability to the design and organize comprehensive turnkey events: Budapest Motor Exhibition, Budapest Fashion Days, Foodapest, Construma etc.
With a broad range of know-how, it averages sales of €22 million and its operating margin will be in line with that of GL events' venue and event management division starting in 2006. The business plan provides for an investment program of €20 million to be carried out over next five years
The Budapest Exhibition Center: a strategic venue for Central Europe www.hungexpo.hu
On 38 hectares in central Budapest, its 75,000 square meters of exhibition space (including 40,000 square meters of covered space) enabled the Budapest Exhibition Center in 2003 to host 25 major trade shows and exhibitions on behalf of more than 6000 exhibitors and 550,000 visitors.
Located in the heart of Budapest, one of Europe's most beautiful capitals and a major destination for business tourism, the exhibition center will enable GL events to develop its offering in a country with strong growth prospects at the crossroads of the new Europe of 25 nations.
The group pursues its international expansion
With this 14th site, the fourth in Europe after Barcelona, London and Padua, the group further strengthens its portfolio of European venues while establishing a strategic position in Central Europe in early 2005, officially designated in France as the 'Year of the Hungarian Economy'.
Upcoming events :
Publication of 2004 earnings: 15 March 2005 (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 : email@example.com
Code ISIN : FR0000066672
Code Bloomberg : GLO FP
Code Reuter : GLTN.PA
Code FTSE : 581