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
|Net sales (€ millions)||2005||2004||Change|
|First quarter||100,6||85,4||+17,8 %|
For the 2005 first quarter, the group announced strong growth in net sales of 17.8% (+12.2% at comparable structure and exchange rates).
€70.6 million or 70% of total sales
+3.1% (+1.7% at comparable structure and exchange rates)
First quarter sales were strong, boosted by major recurring trade shows and exhibitions (SIRHA, the international hotel catering and food trade exhibition in January), gains in the event market and the positive contribution from the integration of Temp-A-Store.
Venue and Event Management
€30 million or 30% of total sales (19.8% in Q1 2004)
+77% (+48% at comparable structure and exchange rates)
Driven by strong demand, sales of this division surged in response to excellent performances by the Paris Floral Park, Lyon Convention Center and contributions from the recently added Barcelona International Convention Center and the Vannes Exhibition Center. Europa Organisation and Market Place also made significant contributions. The new venues in Budapest and Padua will be consolidated respectively in the second quarter and second half.
The Venue and Event Management division currently has ten tender bids pending a decision. On this basis, the group confirms its target to increase the full-year contribution of this division to at least 30% of total sales.
In line with its strategy of strengthening its event organization and engineering capabilities, the group signed a memorandum of understanding to acquire Perfexpo, a trade show engineering service provider in French regions outside of Greater Paris with sales of €4million. Other potential acquisitions to reinforce the group's upstream capabilities in this area are under study.
The group confirms its guidance for 2005 sales of more than €400 million (versus €355.5 million in 2003). In light of the significant impact of Venue and Event Management on GL events' growth and earnings potential, management remains confident in its development strategy.
Annual shareholders' meeting: 20 May 2005 (11am, Palais des Congrès de Lyon)
2005 second quarter sales: 26 July 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 : firstname.lastname@example.org
Code ISIN : FR0000066672
Code Bloomberg : GLO FP
Code Reuter : GLTN.PA
Code FTSE : 581