GL events
Welcome to the world of events!
As a leading global player in the events sector, GL events operates in the three main events markets: congresses and conventions, sporting, cultural and political events, and trade shows and consumer fairs.
© Odile Decq architect / Felice Varini – Nicolas Rodet
GL events
Commonwealth Games Gold Coast 2018
GL events, official supplier of temporary grandstand seating for the Gold Coast 2018 Commonwealth Games in Australia. A total of 60,000 temporary seats were installed in thirteen venues.
Commonwealth Games   Gold Coast 2018
Matmut Stadium Inauguration
The project to renovate and modernise the Matmut Stadium in Gerland, launched by Olivier Ginon, the Chairman of GL events, highlights the Group's expertise in terms of engineering, architecture and asset management. The stadium is now home to the LOU Rugby team.
© Nicolas Rodet
Matmut Stadium Inauguration
Geek and Games at the Riocentro
Brazil’s largest event devoted to pop culture and video games is organised and hosted by GL events at the Riocentro, in Rio de Janeiro.
© Light Press 2017
Geek and Games at the Riocentro
Cannes Film Festival
For more than 20 years, GL events has been providing top-of-the-range, tailor-made services for one of the world's most prestigious film festivals.
© Alexandra Fleurantin
Cannes Film Festival
Equita Lyon
The Lyon Equestrian Show, organised and hosted by GL events at Eurexpo, is the largest indoor equestrian event in France.
© Gilles Galoyer
Equita Lyon
"Nuits Sonores" Music Festival
GL events provides the audiovisual services for this major electronic music festival!
© Laure Rousville
"Nuits Sonores" Music Festival
Sirha Green
The first trade fair devoted to ecological food-services. Organised and hosted by GL events, the event brings together the sector’s professionals to address the issues of social and environmental responsibility.
© Diph Photography
Sirha Green
Première Vision Paris
Organised and hosted by GL events, the reference event for the fashion world was held at the Maison de la Mutualité in Paris. It owes its success to its avant-garde selection, bringing together many new products, services and innovations.
© Alexandra Fleurantin
Première Vision Paris
Light Festival Lyon
GL events Audiovisual, an official partner and service provider to the Lyon Light Festival, draws on its expertise and talent for several artistic projects in various venues during this international event.
© Thierry Perre / Partners’ Club of the ‘Fête des Lumières’ / Lyon Light Festival 2017
Light Festival Lyon
Back to Press releases 2017

Strong earnings growth in H1 2017, EBITDA: +17.7%, current operating income: +23.8%, net income attributable to parent: +23.1%

GL EVENTS (ISIN: FR0000066672 - TICKER: GLO), THE INTEGRATED EVENT INDUSTRY GROUP, ANNOUNCES ITS 2017 FIRST-HALF RESULTS.

GL events' Board of Directors approved the interim financial statements for the 2017 first-half on 5 September 2017. Audit procedures have been completed and the auditors' report is in the process of being issued.

 

M€H1 2017H1 2016CHANGE 17/16
Revenue
496.1 489.9 1.2%
EBITDA (1)
77.8 66.1 17.7 %
Current operating income 50.5 40.8 23.8%
Current operating margin (%) 10.2% 8.3% -
Other income and expenses -3.6 -3.1 -
Operating profit
47.0 37.6 25%
Operating margin (%) 9.5% 7.7% -
Earnings before tax
39.5 29.5 33.9%
Income tax & equity-accounted investments -13.9 -10.6 -
Net income
25.6 18.9 35.4%
Non-controlling interests 4.8 1.9 -
Net income attributable to the equity holders of the parent
20.8 16.9 23.1%
       
ROCE (2) 6.9% 6.8% -

 

1: EBITDA: earnings before interest, taxes, depreciation and amortisation or "gross operating profit"

2: ROCE: Return on capital employed defined as current income net of tax (EBIT) divided by capital employed

 

Revenue for the period amounted to€496.1 million, up 1.2% from the 2016 first half (-1.2% like-for-like defined as at constant structure and exchange rates), despite a negative base effect from the 2016 calendar of events that included the Rio Olympic Games, the Euro 2016 and initial preparations for COP 22.

 

All key income statement aggregates showed strong growth: EBITDA: +17.7%, Current operating income (EBIT) +23.8%, Net income: +35.4% and Net income attributable to equity holders of the parent: +23.1%. The current operating margin rose 1.9 points in relation to the 2016 first half and 2.1 points from the same period in 2015, a year with a comparable biennial profile. This improvement reflects the impact of Group-wide cost optimisation efforts.

 

Olivier Ginon, GL events Group's Chairman commented: "In the first half, GL events' revenue grew 1.2% in the absence of jumbo events and significantly improved its profit margins. The Group's efforts in implementing financial and operational controls have thus been successful. With EBITDA up 17.7% and a double-digit current operating margin, I am confident that the target of profitable growth for 2017 will be met". 


 

OPERATING PROFITABILITY BY DIVISION



GL EVENTS LIVE (M€)H1 2017H1 2016H1 2015
Revenue 229.5 258.3 221.6
Current operating income 9.6 17.8 8.2
Current operating margin (%) 4.2% 6.9% 3.7%

 

GL EVENTS LIVE registered growth in business after restating for the Rio Olympic Games, Euro 2016 and COP 22 (with a €70 million impact in the 2016 first half). At 30 June 2017, the current operating margin reached 4.2%, up in relation to the first half of 2015, a year with a comparable profile in the absence of major jumbo events.

 

 

GL EVENTS EXHIBITIONS (M€)H1 2017H1 2016H1 2015
Revenue 101.0 78.5 100.1
Current operating income 15.8 7.9 16.0
Current operating margin (%) 15.7% 10.0% 16.0%

 

In the 2017 first half, GL EVENTS EXHIBITIONS had €101.0 million in revenue, up 28.6% from 30 June 2016 and 0.9% from 30 June 2015, a six-month period with a comparable biennial profile. The current operating margin was 15.7%, close to the level of the 2015 first half. In addition to the impacts of rationalisation efforts, these performances reflect notably a very high quality edition of Sirha, advances by the Industrie Lyon and CFIA trade fairs and Première Vision's good resilience.

 

 

GL EVENTS VENUES (M€)H1 2017H1 2016H1 2015
Revenue 165.6 153.1 145.2
Current operating income 25.2 15.0 13.7
Current operating margin (%) 15.2% 9.8% 9.4%


GL EVENTS VENUES had revenue of 165.6 million, up 8.2% from 30 June 2016 (+6.5% like-for-like). The current operating margin was up significantly from the 2016 and 2015 first half periods. This was due to both Sao Paulo Expo's accelerating business momentum that registered the best occupancy rate of the Group at 55% in addition to successes of the very attractive destinations of Paris, Lyon, Metz, Brussels and Budapest.


 

 

AN IMPROVED FINANCIAL STRUCTURE

 

In line with the targets announced, capital expenditures for the 2016 first half were contained, at €21 million, compared to €49 million for last year's same period.

 

Net debt amounted to €414.5 million, a level traditionally higher than at year-end (€391.7 million at 31 December 2016) and down in relation to 30 June 2016 (€418.2 million). As announced at the time when first-half revenue was reported, the ratios of net debt to equity and net debt to EBITDA improved in relation to 30 June 2016.

 

ROCE stood at 6.9% at 30 June 2016, compared to 6.8% one year earlier.



 

External growth


As a reminder, GL events also completed several targeted acquisitions in the first half. The Group strengthened its position in the medical convention segment with the acquisition of CCC. In Chile it added expertise in modular structures with Tarpulin. Finally, it has established a position as a key player for the global French trade show by acquiring Midest and Tolexpo, two fairs that will have a positive contribution in 2018.

 

 

Outlook

 

Despite an unfavourable comparison base, the Group confirms its objective for full-year growth in current operating income. It also maintains its target for lower net debt and improved debt ratios.

 

 

UPCOMING EVENTS: 2017 THIRD-QUARTER REVENUE – 17 OCTOBER 2017 (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 : infos.finance@gl-events.com


Code ISIN : FR0000066672
Code Bloomberg : GLO FP
Code Reuter : GLTN.PA
Code FTSE : 581
Code LEI : 9695002PXZMQNBPY2P44

Contacts

Erick Rostagnat - Managing Director Corporate Finances and Administration:
info.finance@gl-events.com
Tel : +33(0)4 72 31 54 20

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