Annual report 2001 - GL events

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4 Pro Forma Financial Income Statement 2001 2000 K€ K€ Net sales 190 254 213 665 Other operating income 13 960 9 611 Operating expenses (191 057) (204 982) Operating profit 13 157 18 739 Financial income 1 499 2 229 Financial charges ((3 576) (3 594) Net financial charge (2 078) (1 365) Income before exceptional items 11 080 17 348 Exceptional income 3 976 48 698 Exceptional charges (4 471) (29 038) Exceptional profit / (loss) (1) (495) 20 780 Corporate tax (3 293) (13 991) Companies profit 7 292 24 164 Share in profit of comp. consolidated under the equity method 0 62 Income before amortization of acquired goodwill 7 292 24 225 Amortization of acquired goodwill (154) (115) Consolidated profit 7 138 24 111 Minority interests (1 085) (1 213) NET CONSOLIDATED GROUP PROFIT / (LOSS) (1) 6 053 22 174 Average number of shares (2) 11 963 913 11 504 985 Consolidated net earnings per share in Euro (1) 0.51 1.93 Consolidated net earnings per share in Euro excluding Paris expo impact 0.51 0.74 (1) Reminder : The exceptional profit/ (loss) for the year 2000 takes into account the capital gain over the Paris expo operation for 23 033 K€ before tax or 14 300 K€ after tax. Excluding this net capital gain, the net consolidated group profit/ (loss) for 2000 would come to 8 497 K€. (2) The average number of shares of the year 2000 takes into account the division by five of the nominal value of the share. Note 2 Consolidation Principles and Valuation Methods 2-1 Accounting Regulations : The financial statements were established in compliance with the methods and accounting regulations generally admitted in France. Since 1 January 2000, the Group’s consolidated statements are in compliance with the recommendations of regulation 99-02 of the Accounting Regulatory Committee. 2-2 Consolidation Method 2-2-1 Consolidation Principles The companies over which the Group exercises exclusive control are consolidated according to the method of global integration starting from the actual date of control. The entities with a holding percentage between 20% and 50% and in which the Group exercises a significant influence on the management and the financial policy are consolidated under the equity method. The entities which fit the description above but whose holding by the Group is temporary or whose activity is considered marginal are not consolidated.
64 65 2-2-2 Consolidation scope The consolidation scope is presented in full in note 31. The principal variations in the consolidation scope are mentioned in note 1. In other respects, Générale Location created the following companies : • Sodem System which on 1 June 2001 acquired the assets of the company Sodem placed in official receivership for the following amount 1.25 M€, • GL USA to welcome the operating unit of the contract for the Salt Lake City Olympic Games and to develop the Group’s activity in the United States of America, • GL Convenciones Barcelona, a company which will be in charge of the operation of the International Convention Center of Barcelona, • GL Holding BV, a company which acquired the company Owen Brown. The inclusions and the exclusions for the period are as follows : Companies Date of inclusion or exclusion in 2001 • OWEN BROWN • Inclusion 1 July 2001 • PACKAGE • Inclusion 1 September 2001 • CEE (subsidiary PACKAGE) • Inclusion 1 September 2001 • CENTRE INFOBATIR (sub. PACKAGE) • Inclusion 1 September 2001 • NOREXPO (subsidiary PACKAGE) • Inclusion 1 September 2001 • SCI 88 • Exclusion 30 June 2001 • SCI FAVIER (subsidiary SCI 88) • Exclusion 30 June 2001 • SCI PRISMA (subsidiary SCI 88) • Exclusion 30 June 2001 • SCI RASPAIL (subsidiary SCI 88) • Exclusion 30 June 2001 • SCI VACHON LISSES (subsidiary SCI 88) • Exclusion 30 June 2001 • Sodem System • Creation 1 June 2001 • GL Europe Holding BV • Creation 1 July 2001 • GL USA • Creation 7 February 2001 • GL Convenciones Barcelona • Creation 29 October 2001 • Boîte à Sons • Global integration 1 January 2001 • A2M Congrès • Inclusion 1 January 2001 2-2-3 Initial consolidation of an entity : When a subsidiary is first consolidated, the Group releases : • a valuation difference relating to identifiable assets and liabilities, which corresponds to the difference between the value of inclusion within the consolidated financial statement and the accounting value of the item in the subsidiary’s financial statement, • acquired goodwill corresponding to the difference between the cost of acquisition of the shares and the proportion of equity acquired after adjustment for all valuation differences. The cost of acquisition of the shares is equal to the amount paid to the seller, plus the costs directly related to the acquisition, and capable of being identified in a reliable manner. For most part, the incidence on the financial statements of acquisitions of the period is as follows : (In K€) OWEN BROWN Group PACKAGE & its subsidiaries CEE, INFOBATIR & NOREXPO Consolidated acquisition value Package share value (including clause of revision calculated 9 995 495 on the basis of estimated possible adjustments at 31 December 2001) Dates of acquisition July 2001 September 2001 Reevaluations performed • Goodwill at 31 December 2001 5 074 2 185 for the whole sub-group Acquired goodwill Nil Nil Acquired goodwill is evaluated each year in accordance with policies usually adopted by the Group. Acquired goodwill is amortized on a straight line basis over a duration of five years.
Page 2 and 3:
Table of contents 1 Générale Loca
Page 4 and 5:
Lyon Tennis Grand Prix “ a satisf
Page 6 and 7:
Première Vision First class Vinexp
Page 8 and 9:
“Royal Ascot” Salt Lake City
Page 10 and 11:
Army Museum Silk museum City of Sci
Page 12 and 13:
® Pierre-Louis DOUERE Architect :
Page 14 and 15:
Evolution of net sales : + 9.8 % Er
Page 16 and 17: “ satisfying clients is our sole
Page 18 and 19: “ satisfying clients for the bene
Page 20 and 21: Picture by : MCO-SPORTS “ a devel
Page 22 and 23: Board of Directors Chairman - Chief
Page 24 and 25: 1 1. Person responsible for the ref
Page 26 and 27: 2 General Information regarding Gé
Page 28 and 29: 2 General Information regarding Gé
Page 30 and 31: 2 Evolution of the capital of Gén
Page 32 and 33: 2 Thresholds crossing Due to the pr
Page 34 and 35: 2 2-5 Financial communication Press
Page 36 and 37: 3 1989 Alliance between the Group P
Page 38 and 39: 3 3-3-4 Venue management This marke
Page 40 and 41: 3 3-4-1-1 Role played by Générale
Page 42 and 43: 3 Other services The Group offers o
Page 44 and 45: 3 3-5-3 Risk linked to the activity
Page 46 and 47: 3 3-7-2 Venue management The distin
Page 48 and 49: 4 Evolution by market In 2001, the
Page 50 and 51: 4 b - Operating profit Expressed as
Page 52 and 53: 4 ● PACKAGE ORGANISATION PACKAGE
Page 54 and 55: 4 ● DECORAMA DECORAMA (M€) 2001
Page 56 and 57: 4 c - Future Prospects Générale L
Page 58 and 59: 4 4-1-2 Five year financial summary
Page 61 and 62: 58 59 4-2 Consolidated Financial St
Page 63 and 64: 60 61 4-2-2 Consolidated Balance Sh
Page 65: 62 63 4-2-4 Notes to the consolidat
Page 69 and 70: 66 67 Tangible fixed assets Tangibl
Page 71 and 72: 68 69 Net sales For shows, fairs, a
Page 73 and 74: 70 71 Note 4 Other Intangible Asset
Page 75 and 76: 72 73 Note 8 Rental Equipment Gross
Page 77 and 78: 74 75 Breakdown of the corporate Ta
Page 79 and 80: 76 77 The Mixed Annual General Meet
Page 81 and 82: 78 79 Note 18 Loans and Debts The d
Page 83 and 84: 80 81 The breakdown of charges for
Page 85 and 86: 82 83 The analysis of the Exception
Page 87 and 88: 84 85 Note 28 Other Risks Foreign C
Page 89 and 90: 86 87 Scope of consolidation Compan
Page 91 and 92: 88 89 4-6 Draft of proposed resolut
Page 93 and 94: 90 91 will have to resign at the en
Page 95 and 96: 5 Organs of administration, directi
Page 97 and 98: 94 95 5-1-3 Board of Directors and
Page 99 and 100: 96 97 5-3 Personnel profit sharing
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Annual report 2001 - GL events

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