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GL events — Earnings Release 2014
Apr 22, 2014
1368_iss_2014-04-22_0823257c-03c7-43fb-a37f-e3bb4766cdb1.pdf
Earnings Release
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Q1 2014 revenue: €219 million Revenue from international markets up 26% (at constant exchange rates)
| Q1 revenue (€m) | 2013 reported basis |
2014 constant exch. rates |
2014 reported basis |
Change 14/13 |
Change 14/13 (constant exch. rates) |
|---|---|---|---|---|---|
| Live | 89.0 | 103.0 | 98.3 | +10.4% | +15.7% |
| Exhibitions | 72.9 | 63.4 | 63.1 | -13.5% | -13.1% |
| Venues | 52.7 | 59.9 | 57.9 | +9.8% | +13.5% |
| Total consolidated revenue |
214.6 | 226.3 | 219.3 | +2.1% | +5.4% |
* constant fx* = at constant exchange rates (calculated at 2013 exchange rates)
Quarterly growth outpaces annual target
GL events, the integrated event industry group, announces revenue of €219.3 million for the 2014 first quarter, up 2.1% from the same period last year. At constant exchange rates, revenue grew 5.4%, marginally surpassing previously announced guidance for annual growth of approximately 4% for the 2014 full year (constant exchange rates).
This quarterly performance is all the more satisfactory for a year without the Lyon edition of Sirha, the biennial world hospitality and food service event, which generated revenue in the 2013 first quarter of €20 million.
GL events present at all World Football Cup stadiums
Group teams will be deployed at all World Football Cup host cities with contracts signed for VIP hospitality services, temporary installations for certain stadiums, press facilities and hospitality services for sponsors. In addition, at Rio Centro the Group houses the Broadcast Centre, the nerve centre for all national and international broadcasts, as well as the Organising Committee offices. Total revenue for this major event will exceed initial forecasts.
International momentum
The base in Turkey has confirmed its status as regional hub by achieving another quarter of growth, up 69% in local currency. Operations in Hungary, also showing forward momentum with 38% growth for the quarter (constant exchange rates), are on track with their roadmap for a successful turnaround. Again in Europe, sales revenue for Spain and the UK have posted significant growth following a decline in 2013. The Group has also reaped the first benefits from the opening as from 1 January 2014 of the temporary exhibition park in Sydney.
Confirmation of 2014 target
This level of quarterly sales illustrates the quality of commercial actions being pursued by its teams across the Group's entire global network of operations. In light of this vitality plus the trend for order intake, the Group confirms its 2014 annual growth target for sales of more than 4%.
Revised publication dates:
2014 first-half revenue, 15 July 2014 (after the close of trading) 2014 first-half results: 2 September 2014 (after the close of trading)
Investor Relations Media relations Erick Rostagnat Tel.: +33 (0)4 72 31 54 20 [email protected]
Stéphanie Stahr Tel.: +33 (0)1 45 96 77 83 [email protected]
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