Corporate Earnings Are Up Overseas

Several overseas companies in the exhibition business have reported 2007 earnings recently:

France-based GL Events posted revenue of €633.5 million ($1 billion), a 27.8-percent increase compared with 2006. Venue and event management sales were up 58 percent, accounting for nearly half of all revenue. GL Events organized more than 430 trade and consumer shows, conventions, congresses and corporate events in 2007. Consolidated operating profit totaled €56.2 million ($89 million), up 38.9 percent from 2006.

The Swiss Exhibition Group posted revenue of €218.3 million ($345.3 million) with profits of €29.5 million ($46.6 million) in fiscal 2007, thanks to positive show rotation and the acquisition of booth construction company Expomobilia. Swiss Exhibition further strengthened its position with the launch of watch, jewelry and art shows. Show rotation will not be as kind to the company this year. With the biennial Swissbau and Igeho on hiatus, officials expect earnings and profits for 2008 will be down from 2007.

In Gothenburg, Sweden, the Swedish Exhibition Centre set records for profitability last year. Operating profit was €9.6 million ($15.1 million), compared with €7.7 million ($12.1 million) in 2006. Net profit also hit an all-time high at €4.5 million ($7.1 million), compared with €3.4 million ($5.3 million) the year before. Total revenue of €84 million ($132.8 million) was the second highest ever.

President and CEO Lennart Mankers said the firm's business model, which incorporates exhibitions, congresses, events, restaurants and hotel operations, was responsible for its success.

It also was a positive year for Italy's Veronafiere, which increased revenue 2.5 percent compared with 2006, to €72 million ($113.8 million). Improvements were also evident in net pre-tax profits (up 4 percent to €5 million, or $7.9 million) and gross operating margin (up 22 percent to €12 million, or $18.9 million). In 2007, Veronafiere hosted 58 events, 37 in Verona and 21 abroad. The year's 445 conventions and congresses that attracted 69,800 attendees also generated growth.

Business Media China, Stuttgart/Beijing, reported fiscal 2007 revenues of €24 million ($38 million), a 220-percent increase, compared with the previous year, despite the significant decline in 2007 in such currencies as the U.S. dollar and Chinese yuan against the euro.