GL Events (GLO) H2 2025 earnings summary

Executive summary

• Revenue reached €1,721m for FY 2025, up 5% year-over-year, with strong international expansion and diversification across markets and segments, driven by Exhibitions and Venues divisions.

• Net profit attributable to shareholders rose 12% to €86m, with EPS up to €2.88.

• International activity accounted for 55% of revenue, up from 38% in 2024.

• Major events and new contracts, including Formula 1, Olympic and Asian Games, and successful venue acquisitions, drove performance.

Financial highlights

• EBITDA increased by 8% to €250m, with margin up to 14.5%.

• Current operating income rose 16% to €176m, margin improved to 10.2%.

• Net debt reduced to €471m from €517m, supported by €139m free cash flow and improved leverage at 1.88x.

• Dividend proposed at €1.00 per share, up 11% from 2024.

• Shareholders’ equity increased by €27m to €651m.

Outlook and guidance

• Revenue growth of more than 8% like-for-like expected for 2026, with further improvement in operating income.

• CAPEX planned at around €80m for 2026.

• Net debt expected to decline slightly, with continued improvement in financial ratios.