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
Full year sales guidance upgraded: over €410 million
|NET SALES (€ millions)||2005||2004||Change|
|First quarter||100,5||85,4||+17,8 %|
|Second quarter||119,5||96,3||+24,1 %|
|First half||220,1||181,7||+21,1 %|
GL events had sales of €220.1 million in the 2005 first half, up 21.1% on the first six months of 2004 (+10.3% at comparable structure and exchange rates). The Group pursued its expansion in international markets whose contribution to first-half sales increased to 30.2%.
€137.5 million or 62.5% of total sales
+2.2% (+0.6% at comparable structure and exchange rates)
In the absence of major sporting events in 2005 (versus billings of €15 million in the 2004 first-half for the Athens Olympic Games), the Group's Global Services division posted an excellent performance, confirming the pertinence of its partnership model in meeting the needs of all types of events.
The Group also maintained its strong presence in the sector of large events: launch of the Airbus A380, international fine watchmaking exhibition (SIHH) in Geneva, Cannes Film Festival, the Izmir Universiades (Turkey), Sports Events in Turin, Villages 3 and 4 for the Preliminary Acts of the America's Cup (Valence, Spain).
Venue and Event Management
€82.6 million or 37.5% of total sales
+75% (+31.7% at comparable structure)
In line with targets, activity of the Barcelona International Convention Center (CCIB) continued to gain momentum, confirming its position as a major European venue. The Budapest Exhibition Center (Hungexpo) and Chorus, the operating company of the Vannes Exposition Center, were added to the Group's portfolio of venues in the second quarter. The Padoua Exposition Center and the Perfexpo event engineering specialist will be consolidated starting the 1st of September of this year. In the upstream sector, the event communications specialist, Market Place registered very satisfactory gains, especially in its strategic segment of major accounts. Notable achievements in the first half included Les Voeux de Total, the Commemoration of the 60th Anniversary of the Liberation of the Nazi Concentration Camps, Bouygues France-Europe Convention.
Significant contracts were signed in the second quarter. In Tunisia, GL events was selected to provide temporary installations for the World Summit on the Information Society (WSIS) to be held in December 2005. In France, it was chosen by the French Ministry of Equipment, Transportation and Housing to organize the World Road Congress in Paris in 2007. The value of this latter contract is €4.5 million. In addition, Renault recently charged GL events to produce its stands for the automobile trade shows of Amsterdam, Paris, and Hanover in 2005 and Brussels in 2006.
Olivier Ginon, GL events Chairman, stated: "GL events is reaping the benefits of its strategy of integrating venue and event management and pursuing operating synergies with its historical business of global services. The Group will also continue to strengthen positions in France and international markets through strategic acquisitions. Given the strong first-half sales and the excellent level of orders, full-year trends are positive. As a result, GL events has upgraded its annual guidance for sales, now expected to exceed €410 million."
Half-year earnings, 6 September 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