As it enters its landmark 40th year, the GL events Group has reported consolidated annual revenue of €953.8m for 2017, recording an increase of 3.6 per cent in its performance in the last quarter of 2017, and leading the Group, for the first time, to forecast revenues exceeding €1b for 2018.
The global provider of integrated event supplies, venues and services recorded a steady success, despite the reduction in major world-events in comparison to 2016; when GL events partnered with giant events throughout the world such as the Rio Olympic Games and the 2016 UEFA European Championship.
Around the world, GL events is made up of three divisions: GL events Live, GL events Exhibitions, and GL events Venues. GL events UK is part of GL events Live which, despite adverse base and currency effects, reported sales of €471.9m for 2017; this strong business momentum reflecting the Group’s presence at a massive range of events.
A substantial pipeline of major global events in 2018 has seen GL events Live securing more than €35 million in new event partnerships. New contracts include the Ryder Cup, which will be managed by GL events UK; Australia’s Commonwealth Games; the Football World Cup in Russia; the Longines FEI World Cup Finals, and the Glasgow European Championships, where GL events UK will install a complete temporary event infrastructure and overlay solution with a value of £6m.
Elsewhere, GL events Exhibitions’ 14 per cent increase in revenue (19.3 per cent like-for-like) reflected the division’s capacity for developing market-leading products and bespoke services that respond to and anticipate the needs of different industry sectors around the world. GL events Venues was at the forefront of continuing growth in destinations such as Budapest, Strasbourg, Lyon and São Paulo where, in line with its strategy, GL events Venues achieved 80 per cent business growth.
The outlook for GL events is promising, as the Group expands its operations and establishes new goals for increased development in the Asia-Pacific region. With a continued programme of investment in its stocks, people and processes, and a continued focus on operational excellence and profitability, the coming year’s performance will be driven by an enhanced portfolio of the world’s best events, meaning that the Group is well on track to achieve its target of €1 billion in revenue for 2018.
Scott Jameson, GL events UK Managing Director, commented: “This is an exhilarating time to be a part of GL events, and I am delighted by the performance and vision of the Group, both here in the UK and around the world.
“GL events UK’s commitment to excellence means that we are partner of choice to a growing number of the world’s biggest and best events. Our commitment to outstanding value through imaginative solutions, reliable delivery and quality service means that GL events UK is trusted to enable the best events with the best temporary infrastructure, and we look forward to a fantastic range of collaborations in 2018 and beyond.”