GL Events (GLO) Q3 2024 TU earnings summary

Executive summary

• Q3 2024 revenue reached €384m, up 18% year-over-year, with like-for-like growth of 20%.

• Nine-month 2024 revenue totaled €1,204.6m, a 19% increase compared to the same period in 2023.

• Strong performance in France, the UK, and Latin America, with the Anhembi events complex in Brazil highlighted as a new growth driver.

• Major contribution from the Paris 2024 Olympic and Paralympic Games, with €100.1m in Q3 revenue.

• Annual revenue growth guidance for 2024 raised to above 10%.

Financial highlights

• Q1 2024 revenue: €386.5m (+10% YoY); Q2: €434.1m (+28% YoY); Q3: €384.0m (+18% YoY).

• 2024 nine-month revenue: €1,204.6m, up 19% from €1,015.2m in 2023.

• Paris 2024 Olympic Games contributed €100.1m to Q3 revenue.

Outlook and guidance

• 2024 full-year revenue growth now expected to exceed 10%, up from previous 9% guidance.

• EBITDA and Net Profit Attributable to Group shareholders projected to grow at least 13% in 2024.

• CAPEX program for 2024 set at approximately €115m; year-end net debt expected to remain stable.

• 2025 outlook includes favorable biennial effects, growth from Anhembi, new sites, and major event contracts.