GL events’ 2023 nine-month revenues top €1bn

Integrated event industry group GL events has announced 2023 nine-month revenues of €1.0152bn, representing a 26% rise, with revenue for the third quarter up 16% at €325m.

The figures were announced following a Board of Directors review of the financial statements for the first nine months of 2023 on 18 October 2023.

Olivier Ginon (pictured), chairman-CEO of GL events Group, commented:  “In line with expectations, GL events’ growth momentum has remained strong. Bolstered by growth of 16% in the third quarter, for the very first time our Group crossed the symbolic one billion euro milestone for nine-month revenue. This quarterly performance highlights the strength of business momentum in Europe and South America, and confirms the upturn in China, particularly for our Live activities, with revenue from this country already exceeding €70m.

“These new successes were achieved thanks to the commitment of all our teams in each of our business divisions. GL events’ ESG policies are also contributing to our progress, with new targets being reached every day.” Ginon went on to confirm the Group’s financial and ESG objectives for the 2023 full year.

Gl events’ Exhibitions division posted particularly impressive results with an 83% revenue rise to €180.4m for the nine months under review.

The human and marketing resources deployed by the Group to prepare for the rebound have produced results, the report said, driving growth in revenues of 42% to €36.8m for the third quarter.

Significant events organised by the division during the quarter included the Biennial Rio de Janeiro International Book Fair, Fashion Source in Shenzhen and Première Vision and Tranoï in Paris.

The Venues division was also back on track in Q3 2023 with growth in revenue of 24% to €87.0m. Activity in France was particularly strong in Q3 with a significant line-up of events including the Metz International Fair, the Lyon Motor Show, the national finals of WorldSkills France in Lyon, the Strasbourg European Fair, the Rose Festival in Toulouse or the Caen International Fair.

In international markets, Hungexpo hosted the Annual Congress of the European Academy of Neurology and the Planet Budapest Sustainable Development Exhibition, two of the division's major successes. In Brazil, major events included the Electronics Industry Exhibition and the ‘Festival do Japão’ celebrating Japanese culture.

The Live division also posted growth momentum in Q3 2023, as revenue rose 9% to €201.2m. This performance benefited from major sporting events such as the Ryder Cup and the Rugby World Cup (RWC France 2023). Other key events that registered excellent performances by the division included the Cannes Yachting Festival and the Maison et Objet exhibition held in Paris in September. Finally, the division benefited from a particularly strong upturn in business in China during the quarter. For the first nine months, GL events Live's revenue rose 17% to €568.6m.

GL events confirmed investments to support future growth with, in addition to targeted acquisitions of €62m in H1 2023, a Capex programme of €100m in 2023, including €40m for the renovation of the Anhembi site in São Paulo, Brazil. The Group is also continuing to roll out its ESG policy in line with the plan of January 2023.