(AOF) – GL Events, a heavyweight in the event industry, recorded net income of 16.8 million euros in the first half, compared to a loss of 27.7 million euros at the end of June 2021. business of 524.7 million euros is up 150% compared to the first half of 2021. A performance that illustrates the dynamic recovery of activity in all the geographical areas where the group is present with the exception of China. Ebitda stood at €63.9 million (-€2.4 million at the end of June 2021) with an EBITDA margin of 12.2 (-1.2% at the end of June 2021).
“This performance is all the more remarkable as activity remains limited in China by the ‘zero covid’ policy and in Europe by the administrative closures in January. We anticipate an even more dynamic second half – if the global context holds up – , which should allow us to achieve growth in our 2022 annual turnover of more than 45%”, said Olivier Ginon, Chairman and CEO of GL Events. It was aiming for growth of more than 30% previously.
GL events also confirmed its objective of returning to operating cash flow generation of around €100 million.
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The collective catering giants are reviewing their prices
In the first half (ended at the end of March) of its 2021-2022 financial year, Elior benefited from a jump of nearly 20% in its activity to 2.2 billion euros. However, its losses increased from 53 million a year earlier to 266 million euros, partly due to a deterioration in margins. This movement is linked to the inflation of food and energy prices. To remedy this, the group has set up a global and systematic program to renegotiate all price lists with its customers.
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