GL events preserves liquidity

Gwen Kaufmann - Wednesday, September 23, 2020    

The interim financial statements for the 2020 first half were approved by GL events' board of directors on September 15, 2020. Revenue for the first six months ended June 30, 2020 amounted to € 266.8 million, severely impacted by the health crisis (-55.2% from one year earlier), which masks the excellent level of business at the start of the year. At the end of February, and after adjusting for the biannual effect, revenue was thus up by 14%. Olivier Ginon, Chairman-CEO of GL events, commented: "After a record performance in 2019, the Group entered the crisis with solid fundamentals." In response to the COVID-19 induced crisis, GL events was able to significantly reduce costs by € 69 million at June 30, 2020. "We have also benefited from support measures adopted by the government", Ginon continues and states that he is confident that GL events will rebound once the administrative restrictions have been lifted. (kf)


Related Articles

Limited recovery for GL events

The third quarter of 2020 marked the beginning of the recovery for GL events, though limited by restrictions on public gatherings and the closure of sites in most regions where the group is present.

Read more
Comexposium uses safeguard procedures

Three holding companies of the Group and Comexposium SAS have decided to enter into a "procédure de sauvegarde" with the Commercial Court of Nanterre.

Read more
UFI appoints Llorca

Anna M Llorca joins UFI, The Global Association of the Exhibition Industry as Marketing and Communications Coordinator.

Read more

Most read articles

UFI annual congress: experiences and passion

UFI, the Global Association of the Exhibition Industry, is pleased to announce the two congress hosts of the physical congress locations. The two on-site events will be hosted by Dubai World Trade Center (UAE) and by MCH Group (Switzerland).

Read more
Hannover Fairs México wins the UFI Marketing Award

Hannover Fairs México has been named the winner of the UFI Marketing Award 2020, for its project: ‘Multi-channel, Cross-generational marketing’.

Read more
Exhibition Industry Market Status Tracker

UFI updates global Exhibition Industry Market Status Tracker continuously.

Read more

Categories and Tags

Advertorial | GL events | France | Financial Statement