Report
Geoffroy Michalet

GL Events : Challenging Q1 before an even worse Q2, but cash management and resilient model

>A hard hit Q1 2020 - Yesterday evening, GL Events published Q1 sales of € 213m, down -37.3% and -25.4% compared to y-2 (better comparability with the biennality effect). We had forecast € 280m. The very significant difference with our forecasts comes from the fact that for displaced and unrealised shows, even if the cash has been collected, sales have not been recognised as such but recorded in products recognised in advance (on the balance sheet and not in the P/L)....
Underlying
GL Events SA

GL events is an international provider of event solutions and services. Co. operates in three segments of the event industry market: the organization of trade fairs, conventions and events(Co. organizes proprietary trade shows); the management of venues(Co.'s venues are managed under concession agreements or long-term public-private partnerships); and services for events(Co. equips and installs every type of event). Co. assists companies, institutions, and event organizers at every stage of the process from the definition of their event strategies to final implementation in the field.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Geoffroy Michalet

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