Global event organiser and venue owner GL events has reported revenues of €384m for Q3, up 18% on the year. The figures follow the 28% rise reported for Q2 and a 10% revenue uptick in Q1.
Olivier Ginon, chairman-CEO of GL events Group, said the latest increase in revenue was driven by strong gains in France, the UK and Latin America. “We would like to express particular congratulations to the teams in Brazil for the successful launch of the Anhembi events complex,” he said.
The Paris Olympic and Paralympic Games were among the major successes in 2024, illustrating the Group's key role in staging and organising key elements of the Games. Ginon said he was confident that GL events' annual revenue would grow more than 10% in 2024 compared to 2023, driven by the performances of the Live and Venues divisions. “We are also looking forward with confidence to 2025, a year that will benefit not only from favourable biennial effects but also growth of the Anhembi event venue, the addition of new sites and the signature of contracts for major world events,” he said.
In terms of performance by division in Q3, GL events Live reported a 24% growth in revenue to €250.2m, with the Olympics contributing greatly. Other major events in France during the period included the Cannes Yacht Festival, Monaco Yacht Show, Maison & Objet, Batimat Paris, Tax Free World Exhibition in Cannes, the French 14th of July Bastille Day ceremonies and the Paris Fashion Week shows.
In international markets, Group business remained sustained in South America and the UK. GL events provided a range of services for major events which included the Silverstone Grand Prix and the Carrefour Group trade shows in Milan and Brussels.
In China, following a slowdown in the summer, business in September was in line with expectations, with services provided for a number of exhibitions (Global Digital Trade Expo, China International Optoelectronic Expo, ASEAN Expo, International Digital Energy Exhibitions...).
The last quarter of the year will see GL events Live deliver services for the 16th Conference of the Parties (COP16) of the United Nations Convention to Combat Desertification (UNCCD), to be held in Riyadh (Saudi Arabia), 2-13 December, 2024.
GL events Exhibitions division reported revenue of €25.4m in Q3 2024, down 31% from last year's third quarter. The decline in revenue at the end of September 2024 (-23%) was largely attributable to unfavourable biennial effects (SIRHA, Expomin, the Biennial Rio de Janeiro International Book Fair...) as well as adverse sector-related and short-term economic difficulties impacting textile exhibitions in France and construction exhibitions in Asia.
In the third quarter, the main events organised by the Exhibitions division in France were Première Vision and Tranoï in Paris for the textiles division, and CFIA and Sepem in Toulouse for the industry division. In South America, the Estetika, Expo Postos and Hyvolution Chile exhibitions all reported growth in revenue compared with recent years.
GL events Venues division continued to display strong momentum in Q3 2024, with revenue up nearly 25% compared with Q3 2023.
Growth in business in Q3 in France was driven by the strong performances of Lyon, Paris, Toulouse Clermont Ferrand and Strasbourg. In Lyon, Eurexpo and the Cité Internationale successfully hosted respectively the Worldskills International finals and the International Congress on Catalysis. The Paris venues (the Invalides and Palais Brongniart sites) benefited in particular from the effect of the Paris 2024 Olympic Games.
In Toulouse, the 3rd Rose Festival and the International Education Conference were held at the MEETT exhibition and convention centre. The autumn exhibitions in Caen, Strasbourg and Saint-Etienne also registered growth in activity. In international markets, the division's growth is driven by sites in Sao Paulo (Ecommerce Brazil, Sao Paulo Boat Show, Doors and Windows Show, etc.), Aichi, Budapest (World Congress on Ultrasound, Sigma Est Europe, etc.) and Brussels.
GL events Venues says it intends to increase the number of venues under management. In China, GL events was awarded new contracts that will take effect on 1 January 2025:
- a management contract for the new Beijing exhibition centre (China International Exhibition Center - Shunyi Hall - 200,000 sqm), in partnership with Capital Exhibitions Group, for a period of five years,
- a contract to operate the new Guangzhou exhibition centre (106,000 sqm after completion of phase 2 in 2026) for a minimum of 16 years through a subsidiary ,GL events Yuexiu Guangzhou Développement.
Finally, the Group responded to the 2nd call for tenders for the management of the Parc Chanot in Marseille and submitted its final proposal for the Stade de France concession.
