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GL events — M&A Activity 2018
Dec 11, 2018
1368_iss_2018-12-11_172f69ea-faf9-4292-85cf-0e7798e9271d.pdf
M&A Activity
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GL EVENTS VENUES PORTFOLIO DEVELOPMENTS: SAINT-ETIENNE AND CAEN
GL EVENTS (ISIN: FR0000066672 - TICKER: GLO), THE INTEGRATED EVENT INDUSTRY GROUP, STRENGTHENS GL EVENTS VENUES IN SAINT-ETIENNE AND CAEN
A 30-YEAR PUBLIC SERVICE DELEGATION FOR 4 EVENT VENUES OF SAINT-ETIENNE
On 26 November 2018, the City of Saint-Etienne awarded GL events the management of 3 event venue facilities effective as from 1 January 2019: the Convention Centre (currently managed by the Group), the Exhibition Centre, and the La Verrière-Fauriel reception space. This 30-year public service delegation (délégation de service public) will be spearheaded by an ad hoc company majority-held by GL events alongside the "Foire Économique Saint-Etienne - Parc d'Expo" not-forprofit structure. A vote is expected in December 2018 to authorize the Metropole to award the management of a 4th venue of reception spaces of the design centre (Cité du Design) as from 1 January 2019.
These venues are expected to generate combined annual revenue of approximately €7 million after completing €22.3 million in modernization/extension works financed by the local public authorities through a €16.8 million investment grant and €4.5 million in renewal investments over the management concession's term.
MANAGEMENT OF THE EXHIBITION CENTRE AND CONVENTION CENTRE OF THE CITY OF CAEN FOR 4 YEARS
GL events was selected by the city of Caen to manage and operate the exhibition centre (16,500 sqm of rentable space) and convention centre (with a 540-seat auditorium and a 1,000 sqm multi-purpose hall) for 4 years effective from 1 January 2019. This 4-year contract will precede a longer public service delegation to be submitted for a call for tenders in 2022. These two sites are expected to generate more than €7 million in revenue.
OUTLOOK
After the city of Reims last September, GL events wishes to thank these two cities for their expression of confidence in GL events' ability to develop their event activities as a future source of economic benefits.
The Group confirms its objective for annual growth of more than 8% (based on average exchange rates for the Turkish Lira and the Brazilian real comparable to those of H1) and is expecting a significant improvement in net income attributable to the Group for the 2018 full year.
GL events is fully focused on completing the external growth operations in China announced in conjunction with the capital increase with the signatures expected in the 2019 first half.
NEXT PRESS RELEASE: 2018 ANNUAL REVENUE: 15 JANUARY 2019 AFTER THE CLOSE OF TRADING
FOR MORE INFORMATION VISIT OUR WEBSITE AT GL-EVENTS.COM
@GLevents
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 offers expertise covering all business line specialisations and services for corporate, institutional and sports events to provide turnkey solutions from consulting and design to staging the event itself. GL events Exhibitions manages and coordinates the Group's
portfolio of more than 300 proprietary trade fairs covering a wide range of sectors: food industry, culture, textiles/fashion, manufacturing… GL events Venues manages a network of 45 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 20 countries, GL events has 4,300 employees. GL events is listed on Euronext Paris, Compartment B (mid caps).
INVESTOR RELATIONS MEDIA RELATIONS
Erick Rostagnat Tel.: +33 (0)4 72 31 54 20 [email protected]
Stéphanie Stahr Tel.: +33 (0)1 53 48 80 57 [email protected]
ISIN FR0000066672 - BLOOMBERG GLO FP - REUTERS GLTN.PA - FTSE 581 LEI 9695002PXZMQNBPY2P44