Annual report 2001 - GL events

4
● PACKAGE ORGANISATION
PACKAGE ORGANISATION 31 December 2001 31 December 2001 31 December 2000
(M€)
(4 months)
from 1 September 2001
to 31 December 2001
Net sales 2.9 6.2 5.8
Operating profit 0.1 0 0.4
Net profit 0 0 0.6
Shareholders‘ equity 1.2 1.2 1.2
Net gearing 0 0 2.6
Number of employees 24 24 21
Based in Lyon, Package Organisation is part of the
organization of congresses and conventions in domains
as diverse as scientific, medical, environment, economic
and touristic development. The company has been
integrated in the consolidated accounts starting 1
September 2001.
Package Organisation holds three subsidiaries (100 %
holding), CEE and Norexpo with activity in the events
business and Centre Infobatir, a documentation center
for professionals in the building business. These three
subsidiaries generate annual net sales of 3.9 m€ and an
operating profit close to 0 in 2001 compared to 4.8 m€
and 0.2 m€ in operating loss in 2000. Considering the
date of integration in the consolidated accounts, the
consolidated four months post net sales of 1.6 m€ and
operating profit of 0.1 m€.
h - Evolution of the six principal subisidiaries of the Group : GL Espace & Décor, GL Mobilier, SF Protection, ISF,
Décorama and Hall Expo
● GL ESPACE & DECOR
GL ESPACE & DECOR 2001 2000
(M€)
Net sales 59.8 73.2
Operating profit 2.2 1.2
Net profit 2.8 3.5
Net fixed assets and stock 20.6 20.9
Equity 17.5 15.3
Net gearing (asset) (4.2) (7.2)
GL Espace & Décor is present in the show and event
market and proposes services of general installation to
clients-organizers and modular and custom-made stands
to clients-exhibitors.
The activity of the company has decreased by 18 %
principally in the area of events, taking into account the
important projects carried out in 2000, the Sydney
Olympic Games and the Summits of the Heads of State.
Profit before tax and exceptional items increases by 71 %
from 1.9 m€ to 3.3 m€ in 2001. This progression is the
result of a policy of economic research adopted during
the course of the year as well as an improved rotation of
assets.
The exceptional profit/ (loss) shows a slight loss going
from 1.6 m€ in 2000 to (0.1 m€), as the year 2000
registered an internal profit due to a sale in the amount
of 1.8 m€ (profit eliminated in the consolidated
accounts) as part of a legal restructuring of the activity
Structures & Grandstands. Note also the absence of a
corporation tax charge due to brought forward
operating tax losses.
The net profit for the year 2000 comes to 2.8 m€.
Retroactively back to 1 January 2001, the company GL
Espace & Décor absorbed Rex Réalisation company,
whose goodwill was operated by GL Espace & Décor.