Global integrated event company GL Events has posted H1 2024 revenues of €820.6m, a figure that represents 19% growth year-on-year (+21% like-for-like).
The Group said that the strong growth had been driven by its Live and Venues divisions. The Group raised its growth target for annual revenue to over 9% (up from 7%) in 2024.
Olivier Ginon (pictured), chairman-CEO of GL events Group, commented: “Maintaining the momentum of previous quarters, GL events posted double-digit growth in the 2024 first half. GL events has an outstanding track record in uncertain environments in meeting all requirements to ensure the success of the most complex and ambitious events, both in France and around the world.
“This summer, the expertise of the Live and Venues divisions will be on full display with the Paris 2024 Olympic and Paralympic Games.”
Ginon said work was continuing to invest in the growth of the group’s three complementary businesses around the world. “The inauguration of the Anhembi site in São Paulo (€100m capital expenditure) is a powerful signal of our strong ambitions for the future. We are thus confirming our targets for 2024, and I remain as confident as ever in our Group's ability to perform in the years ahead,” he added.
GL events revenue (€m, pre-IFRS IAS 29) 2024 2023 Change
Q1 386.5 351.1 10%
Q2 434.1 339.2 28%
H1 2024 CONSOLIDATED TOTAL. 820.6 690.2 19%
GL events also said it continues to develop its ESG policy in line with its objectives by achieving a 25% reduction in energy consumption and the use of consumables in relation to 2019.
In terms of the divisions, GL EVENTS LIVE reported strong growth in revenue (+35%), reaching €496.5m in H1 2024, driven by the Paris 2024 Olympic and Paralympic Games. GL events’ know-how and technical expertise has also contributed to the success of a number of other internationally renowned sporting events, including tennis tournaments, golf tournaments, car races, horse-riding competitions and the Cricket World Cup on the island of Barbados.
Other highlights of the first half included the delivery of services for major international historical and cultural events such as the D-Day 80th Anniversary celebrations, the Candlelit Evenings at Vaux-le-Vicomte, the Cannes Film Festival and the French Solidays HIV/AIDS solidarity annual music festival. Finally, robust activity of the corporate and fashion sectors was highlighted by Dassault Systèmes Business Convention, IATA meetings and the Christian Dior Homme & Haute Couture and Jacquemus Spring/Summer fashion shows.
GL EVENTS EXHIBITIONS had €113.4m in revenue, down 21%, reflecting a less favourable biennial effect in relation to the prior-year period (Sirha, Expomin, Be Positive). The B2B segment nevertheless continued to display strong momentum in H1 2024 with exhibitions that included Hyvolution and Aquasur in Chile, CFIA Rennes, Sepem Colmar and Global Industrie in France. The division also benefited from growth of around 10% in exhibitions organised by GL events CIEC in China (China International Door Expo, Building & Decoration Exhibition, Wallcoverings and Home Furnishings Exhibition and ISH China & CIHE Beijing). In contrast, the fashion and fabrics sector is currently facing challenging economic conditions impacting the Group's exhibitions (Première Vision Paris, Tranoï Homme and Fashion Source Shenzhen), resulting in a decline in revenue of around 5% compared with H1 2023.
GL EVENTS VENUES is continuing to perform well with growth in revenue of 17.6% to €210.7m in H1 2024. Driven by continuing demand for its Paris, Lyon and Strasbourg sites, the division's strong momentum in France remains on track. Internationally, growth has been driven by Hungary, Belgium and Brazil, where the Group just inaugurated its new events venue in São Paulo Anhembi.
The division's teams are forging ahead with their development strategy notably by working on the bid in response to the call for tenders for the Stade de France concession and submitting a bid to operate the Parc Chanot in Marseille.
Strengthening team in China
On 1 July 2024, GL events Greater China announced2 the appointment of Romain Peiffert as CEO and Stephen Lu as COO to support and structure the Group's growth trajectory in the region across its three divisions, Venues, Live and Exhibitions. Both report to Inès Ginon, chairman of GL events Greater China.
