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 euros||2002||2001||Variation|
|4th Quarter Group Sales||91,8||75,7||+21,3 %|
|Full Year Group Sales||301,9||235,0||+28,5 %|
2002 fourth quarter sales reflect strong growth
2002 4th quarter Group sales increased by 20.5% to € 91.8 million from €75.7 million for the same period last year. On a like-for-like basis, sales increased by 2.8%.
Group sales increased by 28.6%, or 11.5% on a like-for-like basis, when restated to reflect sales generated from the Première Vision exhibition held in September 2002, which was held in October during the previous year.
2002 full year sales beat forecast
2002 full year Group sales exceeded 300 million€, achieving the objective that had been set at the launch of Générale Location SA shares on the Paris Stock Exchange in 1998.
The 28.5% growth in sales (8% increase on a like-for-like basis) demonstrates the Group's ability to increase market share, develop new and dynamic businesses such as venue management, and integrate and develop acquired companies such as Owen Brown in the United Kingdom. In 2002, international sales accounted for more than 25% of Group sales.
GL'3 businesses enjoy strong sales growth
- Venue and Event Management - 10.5% of Group sales:
2002 sales up 133% to € 32 million (up 44% on a like-for like basis)
2002 was characterised by the increased importance of Générale Location's Venue and Event Management business. Générale Location has focused on the development of this new business, in order to provide its clients with a global offer, in terms of sites and services, and to acquire new "upstream" market shares.
Venue management enjoyed significant activity levels for the sites already managed in 2001 ans with the new contratct signed for the Toulouse Congress Centre. For the International Congress Centre of Barcelona the first event will be held in 2004.
This business development policy was also reflected with the integration of Toulouse Exposition Centre and Esprit Public (events communication offer).
- Exhibition, Trade Show and Event Services - 60.5% of Group sales:
2002 sales up 12.5% to € 183million (up 8.8% on a like-for like basis)
Générale Location today sells recurring services to the major organisers of exhibitions and trade fairs within the framework of multi-year contracts: Reed Exhibition, Première Vision and Comexpo. In this market segment, which enjoys an annual growth rate of 2% to 5%, Générale Location sales are considered very secure, given the presence of high entry barriers. Exhibitions and trade shows currently account for about 70% of this business' sales.
As a player with an international dimension, Générale Location is also an active participant each year in numerous international events: in 2002, Générale Location participated in the organisation of the Salt Lake City Winter Olympics, the Soccer World Cup in Korea, 7 Grand Prix Formula 1 Races (compared with 3 in 2001), the Manchester Skill Festival and the Commonwealth Games. Générale Location's increasing name recognition enables it to become ever more present each year in this market segment, which is continually growing. Events today account for 30% of this business' sales.
- Fittings, Museum Fittings and Systems - 29% of Group sales
2002 sales up 47.4% to € 87 million (constant on a like-for like basis)
Featuring a constant activity level and good visibility, Générale Location's Fittings, Museum Fittings and Systems business, which is characterised by the installation of permanent structures in contrast to its other businesses, held up well during 2002. This business has a technical focus, requiring multiple areas of expertise and dependent upon specialist skills, whose quality services are also required for exhibitions and trade shows.
This profitable business was strengthened in 2002 with the acquisition of BS Vision, which specialises in the fitting-out of offices and service sector buildings.
2003 financial year outlook
In the continuing difficult economic environment, Générale Location has proven the defensive nature of its businesses, the soundness of its strategy and confirm the good level of activity for the first semester. Its competitive strengths have been proven to be guarantors of sustained growth in businesses where access to the market depends on the development of credibility and the achievement of critical mass.
Committed to the globalisation of its venue management offer, Générale Location will assert itself as a major player in the exhibitions and events market.
Evolution of GL Group Sales (€ millions)
Next meeting: 2002 Annual results presentation, March 12th 2003
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