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
|In millions of euros||2002||2001||change|
|Consolidated net sales, 3rd quarter||69,5||46,3||+50%|
|Overall net sales at 30 September 2002||210,1||159,3||+31,9 %|
Lyon, 21 October 2002
Confirmation of strong business growth:
Générale Location's 3rd-quarter net sales 2002 stood at 69.5m€ as against 46.3m€ for 2001, reporting a rise of 50% (25.3% on a constant consolidation and exchange rate basis). When adjusted against earnings realised in september 2002 from Première Vision trade fair which took place in October 2001, the final growth figure is 37.4%.
Overall net sales at 30 September 2002 stood at 210.1m€, up 31.9% (or +10.3% on a constant consolidation and exchange rate basis).
Growth is as follows for the core businesses:
- Services for trade fairs-exhibitions-events: up 19.9%
- Venue and events management: up 177%
- Fittings-museum fittings-systems: up 37.8%.
These figures confirm the contribution from recently acquired companies, the development of the Venue and events management business (Toulouse Palais des Congrès and Exhibition Center), seasonal trends for certain subsidiaries such as Owen Brown and BS Vision as announced when the first-half results were published, and the Group's involvement in major and international events.
Générale Location is upholding its full-year objective of minimum growth of 25% (with 5% organic growth) for 2002.
Générale Location recently acquired the Regam company in Grenoble (Services for trade fairs-exhibitions-events) as part of its local commercial development strategy. Net sales for this office should reach 1.8m€ in 2003.
A simplified legal organisation chart for the Group
In order to clarify its shareholder structure, Générale Location will be proposing to merge with the intermediary holding Groupe Polygone at the Extraordinary Shareholders' Meeting on 20 December 2002.
The Public portion of equity will remain virtually the same once this operation is complete, changing from 27.99 to 27.87%.
This operation will see the integration of Aquasourca (private investment fund with industrial shareholdings in developing companies) in the leading holding company Polygone SA, mainly through a capital increase, thereby demonstrating its faith in the future development of the Group.
Once this merger is finalised, Générale Location's shareholder structure will consist of Polygone SA (60.2%), Banque de Vizille (8.2%), managers and executives (3.6%) and public (28%).
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