GL Events (GLO) Q3 2025 TU earnings summary

Executive summary

• Revenue for the first nine months of 2025 was €1.2bn at constant exchange rates, stable compared to the same period in 2024, with 51% from international markets.

• Q3 2025 revenue was €288.2m, reflecting a 25% decrease year-over-year due to a significant base effect from the Paris Olympics in Q3 2024 and negative currency impacts.

• Growth in Brazil and Chile, along with strong performance in France, contributed to resilience despite external challenges.

Financial highlights

• Q1 2025 revenue: €430.0m (+11% year-over-year); Q2: €458.9m (+5%); Q3: €288.2m (-25%).

• Nine-month consolidated revenue: €1,177.0m, down 2% from €1,204.6m in 2024.

• Currency effects reduced revenue by €21m in the period.

Outlook and guidance

• Full-year 2025 targets confirmed: revenue growth above 5%, improved operating margin, and capex around €80m.

• Net debt expected to remain stable despite external growth operations.

• Mega-events anticipated to have a more significant impact in Q4 2025.