GL events
Welcome to the world of events.
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
GL events
COP22
GL events provides the installations for COP22 in Marrakech from 7 to 18 November 2016.
The largest temporary installation ever produced.
© Architecte OUALALOU+CHOI
COP22
GL events enters into a joint venture
with Yuexiu Group
to jointly develop a network of event sites in China. The first phase will consist in managing a 50,000 m2 convention centre in Gangzhou (Canton), targeted for opening in 2019.
© 效果图│ Renderings
GL events enters into a joint venture<BR>with Yuexiu Group
Euro 2016
Fan Zone in Lyon
A total surface area of 62,000m2 and 25,000 people a day; the Fan Zone in Lyon managed by GL events was the official home of football and fun during the event.
© Nicolas Rodet
Euro 2016<BR>Fan Zone in Lyon
São Paulo International Motor Show
São Paulo Expo stages the largest and most important auto show in Latin America.
© @studioLopes
São Paulo International Motor Show
Sport dans la Ville
GL events provided services to “Sport dans la Ville”, an association promoting social inclusion through sport, for the inauguration of its new premises.
© Gilles Fillot
Sport dans la Ville
Cannes Film Festival
For more than twenty years, GL events has been on the select guest list of the greatest film festival in the world, providing top-quality services for the event.
© Alexandra Fleurantin
Cannes Film Festival
Nuits de Fourvière
GL events has been a partner to this festival in Lyon for many years: sound systems, lighting, structures for the “Village des Nuits”.
© Francis Mainard
Nuits de Fourvière
Blossom
Designed as an upmarket showroom in the heart of Paris, the show is the ideal place to get a preview of the pre-collections of fabrics and accessories, in a select private environment.
© Stéphane Kossmann
Blossom
Nuits Sonores
GL events is the audiovisual services provider to this major electronic music festival!
© Laure Rousville
Nuits Sonores
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

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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Annual report -
Registration document 2016


Company report
2016


2017 press releases archives