Integrated event industry group and exhibition organiser, GL events has announced record revenues for 2023, up 9% on 2022’s figures at a total of €1.42bn.
Olivier Ginon (pictured), chairman-CEO of GL events Group, said: “GL events confirmed in 2023 the relevance of its unique growth model that leverages the combined strength of its core businesses- Live, Exhibitions and Venues. GL events has thus once again exceeded its targets despite a particularly high comparison base for Q4 2022 in relation to the same period one year earlier (a drop of 19% - ed). The Group's business momentum remained buoyant in all its markets, including China, which is continuing to rebound.
“GL events is also contributing to the adoption of a sustainable events economy with the support of its employees around the world who play a critical role in driving the Group's strategy for a responsible and ambitious development. Based on these efforts, the Group reduced its energy consumption in 2023 by more than 30%.”
Ginon added he was confident in the Group’s prospects for continuing growth and its presence at major global events such as the Paris 2024 Olympic and Paralympic Games.
In terms of the individual divisions, for the year GL events Live posted a small drop in total revenues of 3% to €824.5m, with the Exhibitions division soaring 51% to €209.7m and the Venues division up 21% to €393.1m.
Although GL events Live had a successful year highlighted by major sports events such as the Ryder Cup, the Rugby World Cup (RWC France 2023) and the Pan-American Games, the division was impacted by a high comparison base reflecting the exceptional financial performance of 2022 that included many mega events (Football World Cup, Commonwealth Games, COP 27...).
The Exhibitions division, despite its overall annual result, in Q4 suffered the postponement of the Fashion Source exhibition and the biennial organisation of the Piscine Global Lyon show.
The Venues division reported particularly intense activity in the last quarter in France, which included notably the organisation of the Pollutec, Mondial des Métiers, Epoqu'Auto and Solutrans exhibitions in Lyon, as well as the Paris Peace Forum and the Firefighters Congress in Toulouse. International markets also contributed to the division’s good performance with the organisation of events like Comic Con Experience São Paulo, the Feminist Foreign Policy Conference in the Netherlands and the IAPP Europe Conference in Brussels.
On 3 January 2024, GL events submitted its proposal for the award of the new concession for the Stade de France.
The Group also confirmed its investments destined to support future growth with, in addition to targeted acquisitions of €62m in H1 2023, a Capex programme of more than €100m in 2023, including €40m for the renovation of the Anhembi site in São Paulo, Brazil.
The Group confirms the reduction in its gross debt and an improvement in its financial leverage ratio.
