Presence in Turkey reinforced
A record contract for the Africa Cup of Nations (sales of €34m)
Very robust gains in Brazil
After a record performance in 2010 (+25%), GL events
registered further growth in 2011 with sales of €783
million, up +7.6%. The positive momentum of the first nine
months continued in the year's last quarter with sales
of €233 million, up +5.9% (including organic growth of
1%).
For another year, the Group delivered a noteworthy
performance against the backdrop of sluggish trends for the
European event industry overall, bolstered by its
international commercial presence. The Group has in this
way reaped the benefits from its positions in expanding
international markets with stronger growth trends and has
well managed the period following the World Football Cup by
contributing to a significant number of large-scale events.
GL events also benefited from the addition of Brelet, Slick
and Serenas, Turkey's leading PCO, and growing
contributions from Première Vision.
For the 2011 full year, France accounted for approximately
54% of the Group revenue, Europe 27% and international
markets 29%.
CONSOLIDATED REVENUE (€ millions) | 2009 | 2010 | 2011 | Change (%) |
First quarter | 188.5 | 190.9 | 224.2 | +17.5% |
Second quarter | 112.1 | 165.9 | 159.6 | -3.8% |
Third quarter | 103.5 | 150.7 | 166.1 | +10.2% |
Fourth quarter | 177.3 | 219.7 | 232.7 | +5.9% |
ANNUAL TOTAL | 581.4 | 727.2 | 782.7 | +7.6% |
GL events Live with revenue of €397 million, remained
stable in relation to the prior year that had included €43
million recognised by the Group from contracts for football
competitions held in Africa.
This strategic business unit had a very strong 4th quarter
(+21.3%) on contributions from the 100th anniversary of the
Gallimard publishing house, G20 meetings in Paris and
Cannes, the Test Events held in preparation for the 2012
London Olympic Games or the Paris-Bercy Tennis BNP Paribas
Masters tournament, the Lyon Festival of Lights, the Geneva
International Horse Show Jumping Competition. It has also
been actively contributing to the Africa Cup of Nations
currently being held in Equatorial Guinea and Gabon.
GL events Exhibitions, had revenue in 2011 of €171 million,
up 51.4% (+23.3% like-for-like*). This included positive
contributions from the integration of Première Vision, more
positive trends for the organization of trade fairs in
France(SIRHA) and international markets (Construir and the
major football sector event, Footecon in Rio de Janeiro as
well as the Bologna Motorshow), as well as successes for
proprietary trade fairs with multiple editions such as the
biennial Rio de Janeiro International Book Fair, the Turin
International Book Fair and the Brazilian edition of the
Première Vision fabrics show.
GL events Venues had sales of €215 million for the full
year, up 0.7%, with a contained decline in the 4th quarter
reflecting the seasonality of certain trade fairs.
In 2011, management concession agreements for the Vannes
Exhibition Centre and the Grande Halle d'Auvergne
(Exhibition Centre and the Zenith concert hall) of Clermont
Ferrand were renewed, highlighting the confidence by local
stakeholders in the Group's offering and model for
development in the different economic regions.
Revenue (€ millions) | 2010 | 2011 | 11/10 |
11/10 (organic) |
GL events Live | 401 | 397 | -1% | -6.5% |
GL events Exhibitions | 113 | 171 | +51.4% | +23.3% |
GL events Venues | 213 | 215 | +0.7% | +1.2% |
The Group maintains its target for growth in operating
profit before the extraordinary provision recorded for the
2010 Commonwealth Games contract in India as previously
reported. This allowance has no impact on the calculation
for the bank covenant for leverage and a very limited
impact on gearing.
After contributing to key worldwide events in 2010 and
2011, the Group will focus on confirming its leadership
position through team commitment, high-quality assets and a
very strong brand name with a significant line-up of world
class events for 2012 followed by a positive cycle
thereafter in GL events' different regional markets.
Upcoming events:
2011 annual results, 6 March 2012 (after the close of
trading)
* Like-for-like: comparable structure and exchange
rates
GL events, bringing people together
Managing Director Corporate Finances and Administration :
Erick ROSTAGNAT
Telephone : 33 (0) 04 72 31 54 20
Fax : 33 (0) 04 72 31 54 95
Email : infos.finance@gl-events.com
Code ISIN : FR0000066672
Code Bloomberg : GLO FP
Code Reuter : GLTN.PA
Code FTSE : 581
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