olivLaw · European equity research
GL events GLO.PA
France · Euronext Paris · ISIN FR0000066672 · Vertical: Listed companies from France
GL events is a French group active in organizing trade shows, operating venues and providing event logistics, with operations in France and internationally. Its relevance is growing as clients and organizers increasingly ask for eco-design and decarbonization of events, aspects documented in its 2025 sustainability report.
At the close of 05 Nov 2026, GL events (GLO.PA) stock was 31.00 EUR (+0.49% on the day), with market capitalisation 908.2 m EUR, P/E 11.4 on diluted EPS of 2.73 EUR over the last 12 months, beta 0.56, 52-week range 23.65–35.75 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 62.2
- strong (55–70)
- Bollinger (20, 2)
- 24.20 – 35.72
- in the upper half of the band · %B 0.59 · band width 38.4%
- SMA 50 / 200
- 27.71 / 31.31
- mixed trend
- MACD (12, 26, 9)
- 1.08 / 1.18
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +27.0% | −0.6% | +27.7 pp | — |
| 3 months | +1.3% | −4.2% | +5.5 pp | — |
| 6 months | −9.6% | +4.3% | −14.0 pp | — |
| Year to date | +3.9% | +7.5% | −3.7 pp | — |
| 1 year | +13.3% | +9.9% | +3.4 pp | −6.8% |
| 3 years | +86.7% | +49.8% | +36.9 pp | −15.9% |
| 5 years | +56.3% | +42.8% | +13.4 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 3-quarter history (min 7.5, median 9.8, max 10.9; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 1.4 bn | 1.6 bn | 1.7 bn |
| Revenue YoY | unavailable | +15.1% | +5.1% |
| Net income | 59.9 m | 73.4 m | 81.7 m |
| Net income YoY | unavailable | +22.5% | +11.3% |
| Diluted EPS | 2.01 | 2.45 | 2.73 |
| Diluted EPS YoY | unavailable | +21.9% | +11.4% |
| net % | 4.2% | 4.5% | 4.8% |
| Free cash flow | 164.6 m | 69.0 m | 168.1 m |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 580.0 m EUR
- Financial debt
- 1.0 bn EUR
- Net debt
- 467.1 m EUR
- Equity
- 631.0 m EUR
- Total assets
- 3.3 bn EUR
- Debt / equity
- 1.66x
- Current ratio
- 0.89x
- ROE
- 13.2%
- ROA
- 2.6%
- FCF margin
- 9.8%
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 1.4 bn | 1.6 bn | 1.7 bn | esef· 07 Apr 2026verified |
| Operating income | 141.5 m | 161.2 m | 180.3 m | esef· 07 Apr 2026verified |
| Pre-tax income | 96.3 m | 111.4 m | 126.0 m | esef· 07 Apr 2026verified |
| Income tax | 24.8 m | 28.9 m | 35.3 m | esef· 07 Apr 2026verified |
| Net income | 59.9 m | 73.4 m | 81.7 m | esef· 07 Apr 2026verified |
| Diluted EPS | 2.01 | 2.45 | 2.73 | esef· 07 Apr 2026verified |
| Weighted average diluted shares | 29.8 m | 30.0 m | 30.0 m | esef· 07 Apr 2026verified |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 540.1 m | 533.0 m | 580.0 m | esef· 07 Apr 2026verified |
| Inventories | 61.2 m | 52.8 m | 54.4 m | esef· 07 Apr 2026verified |
| Current assets | 1.0 bn | 1.1 bn | 1.2 bn | esef· 07 Apr 2026verified |
| Goodwill | 826.8 m | 833.7 m | 827.7 m | esef· 07 Apr 2026verified |
| Intangibles (excl. goodwill) | 45.4 m | 41.4 m | 43.1 m | esef· 07 Apr 2026verified |
| Total assets | 3.0 bn | 3.1 bn | 3.3 bn | esef· 07 Apr 2026verified |
| Short-term debt | 189.6 m | 244.3 m | 296.3 m | esef· 07 Apr 2026verified |
| Long-term debt | 843.9 m | 802.2 m | 750.8 m | esef· 07 Apr 2026verified |
| Current liabilities | 1.1 bn | 1.2 bn | 1.3 bn | esef· 07 Apr 2026verified |
| Equity | 582.5 m | 607.1 m | 631.0 m | esef· 07 Apr 2026verified |
| Shares outstanding at year end | 29.2 m | 29.4 m | 29.3 m | esef· 07 Apr 2026derived |
Cash flow · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 269.6 m | 199.5 m | 241.6 m | esef· 07 Apr 2026verified |
| Capex | 105.0 m | 130.4 m | 73.5 m | esef· 07 Apr 2026verified |
| Free cash flow | 164.6 m ≈ | 69.0 m ≈ | 168.1 m ≈ | esef· 07 Apr 2026derived |
| Investing cash flow | -176.6 m | -126.7 m | -103.1 m | esef· 07 Apr 2026verified |
| Financing cash flow | -175.0 m | -69.6 m | -72.4 m | esef· 07 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 45.8% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 908.2 m EUR
Key indicators
Coverage and freshness
Score by group
46% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 30.28 – 81.36 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E30.28 – 81.36 (Mid 46.77)20 companies used · median multiple 17.1x · quartiles 11.1x – 29.8x74SW.PA, ABEO.PA, AC.PA, ADP.PA, AF.PA, AI.PA, ALBON.PA, ALCIS.PA, ALCLA.PA, ALFER.PA, ALHEX.PA, ALO.PA, ALPWG.PA, ALSOG.PA, ANTIN.PA, ARAMI.PA, ATE.PA, AUB.PA, AURE.PA, BB.PA
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 45.8% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 11.7% | 67 (vs peers) | 23% |
| Net margin · Quality | 4.8% | 77 (vs peers) | 14% |
| FCF conversion · Quality | 205.7% | 100 (on a fixed band) | 14% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.9x | 7 (on a fixed band) | 9% |
| P/E (TTM) · Valuation | 11.4x | 78 (vs peers) | 23% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 18.5% | 100 (on a fixed band) | 18% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial7/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality79/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation88/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
GL EVENTS (GLO.PA). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 1.7 bn EUR in 2025; YoY growth 5.1%; net margin 4.8%; ROE 17.4%.
The estimated value range is 30.28–81.36 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 46.77 EUR, the price of 31.00 EUR leaves a potential of 50.9% (value / price − 1) and a margin of safety of 33.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 45.8% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 4.8%
- FCF conversion: 205.7%
- P/E (TTM): 11.4x
- FCF yield: 18.5%
What contradicts it
- Current ratio: 0.9x
Not assessed (insufficient data or a ratio without meaning): Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from France · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AI.PAL'air Liquide Societe Anonyme Pour L'etude Et L'exploitation Des Procedes Georges Claude | 109.3 bn | 33.2 | 12.9% | 12.2% | −2.0% | +26% / +32% |
| AC.PAAccor | 13.8 bn | 30.7 | 9.6% | 8.0% | +0.6% | +6% / +56% |
| ADP.PAAeroports De Paris | 11.7 bn | 34.1 | 7.8% | 5.6% | +12.1% | −7% / +4% |
| AKE.PAArkema | 7.1 bn | 115.4 | 0.9% | 0.7% | −5.0% | +12% / −37% |
| ALO.PAAlstom | 5.8 bn | 18.3 | 3.1% | 1.7% | +3.7% | −51% / −4% |
| AF.PAAir France - Klm | 4.3 bn | 13.6 | — | 1.0% | +4.8% | +20% / +9% |
| ATE.PAAlten | 3.1 bn | 29.5 | 4.8% | 2.6% | −1.1% | +33% / −29% |
| BB.PASociete Bic | 2.7 bn | 31.3 | 5.0% | 4.1% | −4.8% | +32% / +5% |
| ANTIN.PAAntin Infrastructure Partners | 1.4 bn | 13.0 | 21.9% | 36.6% | −8.1% | −24% / −35% |
| GLO.PAGl Events | 908.2 m | 11.4 | 17.4% | 4.8% | +5.1% | +7% / +62% |
| 74SW.PA74software | 792.7 m | 20.9 | 8.9% | 8.5% | +44.8% | −13% / +41% |
| AUB.PAAubay | 667.4 m | 17.8 | 13.6% | 6.3% | +11.3% | +3% / +45% |
| ASY.PAAssystem | 507.1 m | 69.9 | 2.5% | 1.1% | +7.4% | −19% / −18% |
| ATO.PAAtos Se | 483.0 m | — | -23,400.0% | -17.5% | −16.5% | −45% / −94% |
| ARAMI.PAAramis Group | 298.8 m | 15.0 | 10.0% | 0.8% | +6.3% | −33% / −16% |
| ARVEN.PAArverne Group | 246.1 m | — | -14.0% | -115.3% | +27.0% | +20% / −35% |
| BGO.PACompagnie Chargeurs Invest | 189.4 m | — | -8.6% | -5.7% | −2.9% | unavailable / unavailable |
| ALCIS.PACatering International & Services | 145.0 m | 28.4 | 9.3% | 1.9% | +5.8% | +39% / +107% |
| ALCGM.PACegedim | 144.6 m | — | -2.6% | -1.2% | +10.9% | −26% / −49% |
| ATEME.PAAteme | 144.0 m | 151.3 | 2.8% | 1.0% | +2.2% | +82% / +77% |
| ALHEX.PAHexaom | 144.0 m | 6.7 | 9.9% | 2.2% | +13.1% | −32% / +7% |
| ALBON.PACompagnie Lebon | 111.7 m | 16.5 | 4.2% | 8.8% | −17.9% | +6% / +8% |
| ALHYF.PALhyfe | 75.8 m | — | -33.4% | -570.5% | +287.2% | unavailable / unavailable |
| ALFER.PASergeferrari Group | 61.5 m | 11.5 | 5.1% | 1.5% | +7.4% | −33% / −27% |
| ABEO.PAAbeo | 60.8 m | 7.3 | 6.9% | 3.0% | +12.6% | −13% / −54% |
1- and 3-year price returns: for GLO.PA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 18.83 Total return -39% · Per year -39% | 33.29 Total return 7% · Per year 7% | 50.13 Total return 62% · Per year 62% |
| 3 years | 18.49 Total return -40% · Per year -16% | 36.75 Total return 19% · Per year 6% | 60.74 Total return 96% · Per year 25% |
| 5 years | 18.15 Total return -41% · Per year -10% | 40.57 Total return 31% · Per year 6% | 73.59 Total return 137% · Per year 19% |
- Exit P/E± 9.19
- Net margin± 6.43
- Annual revenue growth± 5.25
- Annual dilution± 0.54
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
GL events is a French group active in organizing trade shows, operating venues and providing event logistics, with operations in France and internationally. Its relevance is growing as clients and organizers increasingly ask for eco-design and decarbonization of events, aspects documented in its 2025 sustainability report.
SWOT
Strengths
- The integrated model, in which production, trade shows and venues are linked, gives a full view of the value chain.
- The double materiality analysis is updated every year and validated by governance committees, which shows a formalized process.
- International presence and specialized divisions such as Greentech+ extend the offer beyond the French market.
Weaknesses
- The Venues division concentrates energy consumption, making the group vulnerable to energy prices and renovation costs.
- Greenhouse gas emissions linked to purchasing, travel and energy use remain significant.
- Activity depends on events taking place, exposing the group to unexpected cancellations or delays.
Opportunities
- Demand from clients and major international organizers for eco-design could open new contracts for the group.
- The Greentech+ division and shows dedicated to the low-carbon transition could extend the market to new audiences and regions.
- Climate adaptation solutions, including the installation of emergency shelters, could become a new service.
Threats
- European rules on decarbonization and substances used may impose adaptation costs on providers.
- Extreme climate events may disrupt set-up, deliveries or event delivery across several sites.
- A cyberattack or data loss could affect operations, reputation and client relationships.
Risks
- Adaptation to extreme climate eventsmedium
Heatwaves and floods can delay set-up or cancel events, especially at Venues sites, with effects on deliveries and revenue.
- Energy costshigh
Volatility in energy markets and price inflation can pressure margins at sites with high energy consumption.
- Low-carbon transitionmedium
If the group does not meet its new decarbonization targets, it could lose competitiveness or important partnerships.
- Cybersecuritymedium
Cyberattacks can block operations, expose confidential data and affect the group's image nationally and internationally.
- Event safety and accessibilitylow
Accessibility and safety of events, especially at very large venues, were reassessed in 2025 and considered material, which may bring additional operational requirements.
Investment thesis
What would need to be true (bull case)
- If demand for eco-design and responsible events keeps growing, the group could capitalize on its position in trade shows and transition services.
- The integrated model may let the group offer clients complete solutions, which could strengthen long-term relationships.
- The formalized risk analysis and governance process can support a more predictable execution of the sustainability strategy.
What would break the thesis
- Energy and renovation costs at Venues sites could reduce margins in the short term, especially if prices stay high.
- Climate change may cause repeated disruptions to events, which would affect revenue and planning.
- If regulations change or demand for decarbonization falls, investments made in this direction could return less than expected.
What to watch
- Evolution of demand for eco-design in contracts with international organizers2027
- Impact of energy costs on margins of the Venues divisionQ1 2027
- Progress on decarbonization targets and trajectories for each divisionnext sustainability report
- Effects of European substance and taxonomy rules on providers2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
According to the annual report for the year ended 31 December 2025, the group's business model is integrated, and its entities can be clients and suppliers to one another. The Live division produces and handles event logistics, the Exhibitions division organizes trade shows, and the Venues division manages sites such as congress centres, exhibition parks and large halls. This integration lets the group offer a full service, from design to event delivery.
The group's sustainability strategy includes a double materiality analysis updated in 2025, in which 71 impacts, risks and opportunities were assessed, 29 of them qualified as material. The analysis was presented to committees and the board, showing that environmental, social and governance matters are built into decision making.
The group's activity depends on the demand from event organizers and the availability of sites, which makes it sensitive to extreme climate events, energy costs and event safety or accessibility. The document explicitly names these dependencies as sources of operational and financial risk.
Segments
Live
The Live division handles event production and logistics and rents materials to the Exhibitions division. The document notes that the low-carbon transition and European rules on substances used may generate additional costs for service providers, particularly through new technologies or changed logistics chains.
Exhibitions
The Exhibitions division organizes trade shows, including the Greentech+ unit dedicated to the low-carbon transition and textile shows such as Première Vision. The group considers that these shows can attract exhibitors and visitors oriented toward sustainability, and their international expansion is already under way.
Venues
The Venues division runs congress centres, exhibition parks and halls, which according to the report represented over 85 % of the group's energy consumption in 2023. This concentration makes energy price sensitivity and renovation projects an important factor for this division.
Market context
The market for business events and trade shows depends on economic activity, organizers' budgets and audience preferences, and the document shows that clients and major international organizers increasingly ask for eco-design solutions. The group identifies this growing demand as an opportunity that intensified in 2025.
European rules on decarbonization and green taxonomy influence both organizers and providers, and recent changes in the European Commission's Omnibus package have, according to the document, eased regulatory pressure in some areas. Changes to this framework could shift demand for transition services in the events sector.
Trends
- Demand for eco-design and responsible eventstailwind
Clients and international organizers increasingly ask for eco-design solutions, which raised the relevance of this opportunity in the 2025 materiality analysis. If this demand keeps consolidating, it could support the group's new services.
- Low-carbon transition of the sectormixed
Organizers must reduce the carbon footprint of events, and the group considers the Greentech+ division and decarbonization solutions could become an advantage. Adaptation costs and new rules may however put pressure on providers.
- Energy costs and market volatilityheadwind
Geopolitical instability and tensions over energy resources may keep energy prices high, affecting in particular the sites in the Venues division. Renovation costs needed to cut consumption could weigh in the short term.
- Extreme climate eventsheadwind
Heatwaves, floods and other climate events can delay set-up or cancel events, especially at Venues sites. The document states that no major short- or medium-term risk was identified in the European study carried out.
Competitive position
The analyzed document does not explicitly name competitors. The group operates in trade show organization, congress centre management and event logistics, where competition comes from specialized organizers and venue operators.
The group's stated advantage is vertical integration between production, trade shows and venues, which lets it understand client needs and respond quickly. This integration may differentiate it from operators active in only one segment.
- Congress centre and exhibition park operators
The document does not name direct competitors; such operators work in the same venue management space.
- Independent trade show organizers
Trade show organizers compete for the same exhibitors and visitors, and the document does not identify them by name.
- Event logistics and production companies
Providers specialized in event set-up and material transport may compete with the Live division.
- International event service providers
For this type of competitor the document gives no names or data that would allow a reliable identification.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202507 Apr 2026
- Annual report 202415 Apr 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / GL events · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.