Erick Rostagnat, Managing Director Corporate Finances, looks back over the 2010 year, and discusses the Group’s strategy and outlook for 2011.
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2010 results: GL events performs well as recovery picks up in the event industry market
2010, a year of strong development
Against the backdrop of improved market trends for the event industry in 2010, GL events had revenue of €727.2 million, up 25% (+16% like-for-like(2)).
This performance benefited from the strength the Group's business model, high-quality assets, team commitment and solid global positions accelerating further gains in market share. With this momentum, GL events registered strong growth in Asia, Africa and South America. Broken down by region, France accounted for 50% of sales, Europe 25% and other international markets 25%.
Both of the Group's major business divisions delivered very good commercial performances.
Services contributed to the most important global event of the year (FIFA 2010 World CupTM Africa Cup of Nations, Commonwealth Games in New Delhi, Shanghai World Expo, Ryder Cup golf competition in Wales). The Group was also present at prestigious events in France (Saut Hermès international show jumping competition, World Badminton Championship, and the Tennis BNP Paribas Masters of Paris–Bercy, Davis Cup quarterfinals in Clermont-Ferrand and the semifinals in Lyon, Cannes International Film Festival, etc.).
The Group also pursued its expansion in Venue Management and Events with the successful integration and commercial launch of a number of high quality sites (Palais Brongniart, Oran Exhibition Centre, Hôtel Salomon de Rothschild, and full-year contributions of the World Forum Congress Centre of The Hague, Amiens Mégacité Exhibition and Convention Centre, Brussels Square meeting centre).
Finally, the Event Organisation
business showed resilience in an environment that continued to be challenging for the corporate segment in Europe, benefiting from strategic positions in international markets and the recovery in Trade Fairs.[read more]