Gl events: buoyant after raising guidance

(CercleFinance.com) - GL events is up over 9%, the day after the events specialist raised its sales growth target for 2024 from 7% to 9%, "in light of a very good first half, ahead of expectations".


Oddo BHF also notes that "the company expects EBITDA and net income (group share) to increase by at least 13% by the end of 2024 compared with 2023, a level consistent with (and very slightly higher than) our estimates".

For the first six months of 2024, GL events claims 24% growth in RNPG, to €39 million, and a 17% rise in EBITDA, to €116 million, giving a margin of 14.2% on sales up 19% to €821 million.

The challenge for management, particularly at today's investor meeting, will be to explain the Group's growth drivers following this historic year", warns Oddo BHF, which nevertheless reaffirms its "outperform" rating.

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