GL events — Earnings Release 2024

Jan 23, 2025

GL EVENTS BEATS ANNUAL TARGETS WITH TOPLINE GROWTH OF 15% IN 2024

GL EVENTS (FR0000066672, GLO), THE INTEGRATED EVENT INDUSTRY GROUP, ANNOUNCES ITS 2024 FOURTH QUARTER REVENUE:

• Topline growth of 15% for 2024 (+16% LFL1 ) and a new record with revenue of €1.635bn
• Annual profit guidance raised to 15% vs. 2023 (EBITDA and net profit attributable to owners of the parent).

2024 revenue (€m) pre-IAS 29	31-12-2023	31-12-2024	Change
Q1	350.4	386.5	10%
Q2	339.8	434.1	28%
Q3	325.0	384.0	18%
Q4	412.1	430.6	5%
Consolidated Group total	1,427.3	1,635.2	15%

Olivier Ginon, Chairman-CEO of GL events Group, commented:

"GL events' positive momentum remained on track throughout 2024, as we once again exceeded all expectations with a new record of €1.635bn in annual revenue and strong growth of 15%. By leveraging the combined strengths of our Live, Venues and Exhibitions divisions, our strong local roots and our international reach, we successfully met the year's major challenges while at the same time preparing for the future. We can take pride in this remarkable performance which reflects the strength of our market positions and the relevance of our strategy.

Highlights of 2024 included the Paris Olympic and Paralympic Games, the inauguration of the new Anhembi de São Paulo event space and the launch of ambitious projects for the Group such as Marseille's Chanot Exhibition and Convention Centre and other large-scale sports arenas. These projects are further testimony to the commitment and passion of our teams and reflect our efforts to combine operational excellence with social and environmental responsibility, and our desire to build a sustainable and innovative world of events.

We are committed to maintaining this growth trajectory in 2025 supported by a favourable biennial effect, by seizing numerous other opportunities (such as the Riesco event space in Santiago, Chile), and by remaining faithful to our mission of creating memorable and sustainable events creating genuine value".

¹ Like-for-like defined as at constant structure and exchange rates

(€m)	FY	Q1	Q2	Q3	Q4	FY
pre-IAS 29	2023	2024	2024	2024	2024	2024	Change
GL events Live	824.5	192.4	304.0	250.2	277.7	1,024.4	24%
GL events Exhibitions	209.7	99.8	13.5	25.4	29.4	168.2	-20%
GL events Venues	393.1	94.2	116.5	108.3	123.5	442.6	13%
Consolidated total	1,427.3	386.4	434.1	384.0	430.6	1,635.2	15%

REVENUE BY DIVISION

GL EVENTS LIVE's annual performance benefited from the volume and the quality of the services provided for the Paris 2024 Olympic and Paralympic Games, which accounted for around 34% of the division's revenue. In 2024 this division thus registered exceptional growth of 24%, with revenue of €1.0244bn driven mainly by France, the United Kingdom, the Middle East and South America.

In the fourth quarter, the division's revenue rose 8.5% to €277.7m. This positive momentum was driven by contributions to events including Equita, the Paris Agricultural Fair, the Sommet de l'Elevage livestock show and the Soundstorm Festival in Riyadh. In Turkey, Group teams enjoyed a busy quarter organising medical conventions. The Olympic and Paralympic Games installations have been dismantled and the restoration of the sites has been completed. Finally, Group teams delivered a wide range of services for COP16 (United Nations Convention to Combat Desertification), held in Riyadh last December.

GL EVENTS EXHIBITIONS reported revenue of €168.2m in 2024, down 20% on 2023 reflecting a less favourable biennial effect and economic difficulties in the fashion and construction sectors.

In Q4 2024, the division delivered a good performance with revenue of €29.4m or marginal growth of 0.4%. Business in France and Latin America remained buoyant while China showed continuing resilience. GL events Exhibitions successfully organised major shows that included Première Vision, Hyvolution and Tranoi Femme. A number of major exhibitions were held in the last quarter including Piscine Global in Lyon, Sepem in Grenoble, Fashion Source Autumn and Harbin Seed Industry Expo in China, Première Vision Denim in Milan and Exponaval in Chile.

GL EVENTS VENUES continued to grow in 2024 with revenue of €442.6m, an increase of 13% driven by strong contributions from France and Brazil. By December 31, 2024, the Group was operating at 59 sites in major business tourism destinations in 11 countries.

Activity in Q4 2024 was particularly buoyant in Europe and South America. The marginal contraction in revenue (-2.7% to €123.5m) reflects the unfavourable biennial effect in France in relation to Q4 2023 (impact of the Pollutec and Solutrans exhibitions in an odd-numbered year).

The main events hosted by the sites of the Venues division in Lyon included the convention for the French Association of Veterinarians for Pets (AFVAC), the Mondial des métiers, Époqu'Auto and Préventica. Events hosted at the Paris destination included GIE Carte France, True Communication Finance, the Exhibition of French Mayors and the Children's Book Fair.

In Europe, activity was buoyant for the World Forum in The Hague, Square – Brussels Meeting Centre, and the Lingotto site in Turin. In Brazil, growth remained strong (+30% vs. Q3 2024) driven by the São Paulo, Rio and Salvador sites, despite a negative currency effect of €3m in the quarter for this division.

The teams also continued to focus their efforts on developing the network of sites. GL events Group, in partnership with the Aix Marseille Provence Chamber of Commerce and Industry, was awarded the management of Marseille's Chanot Exhibition and Convention Centre (Parc Chanot) for the next 3 years. In addition, the new events space in Abidjan (Côte d'Ivoire) will be operated by the Group's teams under a management contract for the next 6 years. Finally, GL events was awarded two contracts in China for the new exhibition centres in Guangzhou (for 16 years) and Beijing (for 5 years) that took effect on 1 January 2025.

PRESENCE IN CHILE STRENGTHENED

Present in Chile since 2016, the Group strengthened its position in this market by acquiring 100% of the shares of the company operating the Riesco events centre in Santiago de Chile (with a 17,000 sqm exhibition centre, 10,000 sqm convention centre and an outdoor area of 62,500 sqm). In addition to managing the site, the company organises or co-organises 3 major exhibitions in the Food & Service, Construction and Sustainable Mobility sectors. This group has 100 employees and is expected to generate sales in 2025 of €16m.

Through this transaction, GL events confirms its leadership position in Chile and ensures the development of exhibitions organised by its subsidiary FISA. Operational synergies will also be developed with Vittacura Santiago's Metropolitan reception area.

ESG

GL events is continuing to roll out its ESG policy and confirms its ambitions for reducing its carbon footprint, limiting the use of disposable products, optimising circular economy practices and promoting diversity and local development. This performance was rewarded by a seven-point increase in its score by Ethifinance, the extra-financial rating agency, to 74/100. The ESG policy will be strengthened by the gradual implementation of the European CSRD Directive and the European Sustainability Reporting Standards with the publication of the 2024 Universal Registration Document.

In terms of carbon footprint reduction, the Group is consolidating its carbon assessment across the 3 scopes for FY 2024, while noting that between 2022 and 2023, this metric decreased by 6% on a likefor-like basis. The Group is also gradually adopting a strategy for reducing emissions for individual business lines while identifying the main physical risks associated with climate change.

Finally, the Group is strengthening its Diversity and Inclusion policy by focusing on a number of key areas. These include support for employees and their managers, communication and awareness-raising initiatives, training and the development of responsible purchasing. On that basis, in 2024 the Group promoted numerous initiatives through webinars, participation in Duo days, awareness-raising workshops during the Quality of Life and Working Conditions Week and the European Week for Employment of People with Disabilities (SEEPH). These measures contributed to a 14% increase in the use of SSE (Social and Solidarity Economy) service suppliers between 2023 and 2024.

2024 TARGETS

The Group raises its profit outlook and confirms its guidance for net debt:

• Growth in EBITDA and net profit (attributable to equity holders of the parent) of 15% (versus a minimum target of 13% previously),
• Stable net debt compared with 31 December 2023,
• A CAPEX programme of around €115m.

UPCOMING EVENTS

• FY 2024 results: 5 March 2025 after the close of trading Q1 2025 revenue: 16 April 2025 after the close of trading
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ABOUT GL EVENTS

www.gl-events.com

About GL events: The Group is a world-class provider of integrated solutions and services for events operating across the three main market segments: conventions, conferences, congresses; cultural, sports and political events; trade shows / B2B and B2C exhibitions and consumer fairs. GL events' activities are organised into three major business divisions. GL events Live provides a complete range of services for corporate, institutional and sports

events, and offers turnkey solutions from consulting and design to staging the event itself. GL events Exhibitions manages and coordinates the Group's portfolio of more than 200 proprietary trade fairs covering a wide range of sectors: food industry, culture, textiles/fashion, manufacturing… GL events Venues manages a network of 59 venues (convention and exhibition centres, concert halls and multi-purpose facilities) in France and international destinations.

Present on five continents with operations in more than 21 countries, GL events has 5,800 employees. GL events is listed on Euronext Paris, Compartment B (mid-caps).

INVESTOR RELATIONS	MEDIA RELATIONS
GL events	FTI Consulting
Sylvain Bechet	Julien Durovray
Tel.: +33 (0)4 72 31 54 20	Tel.: +33 (0)6 25 04 57 73
finance@communication.gl-events.com	glevents@fticonsulting.com

ISIN FR0000066672 - BLOOMBERG GLO FP - REFINITIV GLTN.PA - FTSE 581

LEI 9695002PXZMQNBPY2P44

POST-IAS 29 PRESENTATION
(€m) IAS 29	Q1 2024	Q2 2024	Q3 2024	Q4 2024	FY 2024
GL events Live	192.2	303.8	249.1	278.0	1,023.2
GL events Exhibitions	99.8	13.5	25.4	29.4	168.2
GL events Venues	94.2	116.5	108.3	123.5	442.5

DEFINITIONS

Constant exchange rates: average exchange rate of N applied to the previous period (N-1)

Organic growth: growth in revenue excluding changes in the scope of consolidation

Constant structure

• o For acquisitions of the period: by adding to revenue of prior periods the sales of the acquired company
• o For disposals of the period: by subtracting from revenue of prior periods the sales of the company sold

LFL: like-for-like defined as at constant structure and exchange rates (see the definitions above for "constant structure" and "constant exchange rates")

IFRS 16: restatement of leases, standard applicable as from 1 January 2019

• o Measurement of leases in the balance sheet under assets (right-of-use assets), with the recognition of a corresponding debt under liabilities (lease liabilities)
• o A portion of lease payments is recognised under operating expenses ("amortisation") and a portion under financial expense ("cost of debt")
• o Covenants are determined excluding the application of this standard.

IAS 29: Financial Reporting in Hyperinflationary Economies for the Group, Turkey is included in the list of countries covered by this standard. In consequence, the accounts of the Group's Turkish companies are henceforth translated at the closing rate and no longer at the average rate for the period.