GL Events exhibition business doubles in Q1

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Lyon, 21st April: Last week, GL Events released its financial results for the quarter ended 31st March 2022. Revenues at GL Events Exhibitions reached €40 million (US$46 million), which is double the figure of the first quarter in 2021. Management notes that this was largely driven by contributions from exhibitions held in France.

GL Events’ group revenues jumped 130% in the quarter, hitting €220 million (US$249 million). In terms of its key business sectors, GL Events Live generated €125 million (US$142 million), up 83% year-on-year. While GL Events Venues posted annual revenues of €55 million (US$62 million) - which is more than five times the figure in the same quarter of 2021.

DLG’s revenues down 37% in Q1

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Shanghai, 26th April: Earlier this week, Shanghai-listed DLG Exhibitions (formerly Shanghai Lansheng) released its financial results for the quarter ended 31st March 2022. Revenues in the quarter were just US$6.3 million. That represents a year-on-year decrease of 37%.

The company posted a net loss of US$13 million in the quarter, compared with a loss of just over US$8 million in the same quarter in 2021.

Messe Frankfurt reschedules two shows in China

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Chengdu/Tianjin, 22nd April: International exhibition organiser, Messe Frankfurt, will reschedule two of its mobility and logistics fairs in China due to the Central government’s strict COVID-19 prevention and control measures in key cities.

CAPAS Chengdu will now be held from 18th to 20th August 2022, moved from its original dates of 19th to 21st May 2022. The other Messe Frankfurt show that will be rescheduled is Auto Maintenance and Repair Expo (AMR), which will take place in Tianjin running from 23rd to 26th March 2023.

Singapore drops most restrictions

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Singapore, 25th April: Singapore is essentially dropping most of its COVID-19 restrictions. Travellers who are fully vaccinated against COVID-19 will no longer need to take any COVID-19 test or quarantine to enter the country. In Singapore government-speak, Singapore “will lower its Disease Outbreak Response System Condition (DORSCON) alert levels as of 26th April.”

According to Singapore’s Ministry of Health, the launch of the new “Vaccinated Travel Framework” allows all fully vaccinated travellers to enter Singapore without serving a Stay-Home Notice (SHN) or even applying for entry approvals.

Quick takes

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Alibaba to take Lazada to Europe

Partly in response to its slowing growth rates in China, Alibaba has announced plans to take Lazada, its South East Asian subsidiary, to Europe. This follows the opening a major logistics hub in Belgium last November through the Alibaba subsidiary, Cainiao. That facility will reportedly be the largest of its kind in Europe.

 

Hong Kong increasingly isolated and alone

As most Asia markets drop COVID restrictions, Hong Kong stands increasing isolated as it maintains a mandatory seven-day hotel stay for returning residents and visitors alike. George Cautherley of the International Chamber of Commerce in Hong Kong stated, “To have to have someone in quarantine for seven days on a business trip simply isn’t really financially viable.” If only the Hong Kong government shared that rather sensible view.

 

Significant recovery in the Philippines’ tourism trade

In happier, more sane news, the Philippines, which opened its borders last month, looks to be on the road to a rapid recovery in terms of tourism and travel. This is according to a new report released by the World Travel & Tourism Council (WTTC).

 

New venue opens in Taiwan

The grand opening of ICC Tainan was held on 21st April in Tainan, located on the southwest coast of the island. Taiwan’s Ministry of Economic Affairs (MOEA) funded the venue and aims to use it to highlight the local economy’s strengths in high-tech enterprises, research and development as well as green technology.

Quick takes

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AIME returns to form

This edition of the BSG newsletter is the first in many, many months that feels like all good news! Continuing with that theme: Matt Pearce from the team at Talk2 Media & Events is very pleased with the result of AIME, which was held in Melbourne last month.

 

South Korea drops most COVID restrictions

As of 18th April, South Korea dropped curfews and restrictions on private gatherings. Mass gatherings of more than 300 are permitted once again. Venue capacity limitations have been removed. Social distancing rules have been dropped, as has quarantine for vaccinated visitors.

 

Hyve announces U.S. fintech acquisition

The Hyve Group may have lost 30% of its revenues with the collapse of its Russian portfolio, but CEO Mark Shashoua is looking to the future with Fintech Meetup. According to the company, this acquisition “forms part of a plan to create the biggest and best in-person and virtual fintech events.”

 

RELX releases 2022 trading update

Exhibitions now account for just 7% of RELX’s group revenues compared with its risk business (34% of revenues), scientific, technical and medical (37%) and legal (22%). Events have never looked less essential to the RELX portfolio.

 

UFI unveils recipients of Next Generation Leadership grant

A jury of exhibition industry leaders chaired by UFI president Monica Lee-Müller has selected the winners of the UFI Next Generation Leadership grant. The initiative focuses on “developing a new talent narrative for the exhibition industry.” There were a record number of applications this year, and as a result, UFI agreed to award a total of six grants this year.

Messe Frankfurt launches Paperworld India 2022

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India, 4th April: International organiser, Messe Frankfurt, will launch its Paperworld India next month, bringing the Indian stationery industry together at its three-day exhibition.

Paperworld India will be held from 12th to 14th May 2022 at Jio World Convention Centre (JWCC), and will be held alongside the Corporate Gifts Show and Interior Lifestyle India presented by Ambiente India.

BCEC secures 77 new conventions

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Brisbane, 19th April: The Brisbane Convention & Exhibition Centre (BCEC) has confirmed that it secured 77 new conventions, which will generate an estimated A$144 million (US$193 million) for the Queensland economy.

The events will support some of the state’s key sector industries including technology, transport, population, healthcare, science and research. It is expected the events will attract more than 50,000 delegates to Brisbane and benefit local businesses across Queensland’s hospitality and tourism sectors.

KLCC to host over 20 international events this year

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Kuala Lumpur, 15th April: Malaysia recently re-opened its international borders. On the back of that news, the Kuala Lumpur Convention Centre (KLCC) will host a total of 117 business and entertainment events by the end of December this year – including over 20 international events, 10 conventions and 13 exhibitions.

Some of the events to be held at KLCC this year include the International Congress on Infectious Diseases (ICID) 2022; International Conference on Tropical Agriculture (ICTA) 2022; International Geoscience and Remote Sensing Symposium (IGARSS) 2022; Asia Turbomachinery & Pump Symposium (ATPS) 2022; 3rd Asia Optometric Congress 2022; International Medical Exhibition & Conference (IMEC EXPO) 2022; International Café & Beverage Show 2022; Control World Expo, Oil & Gas Asia 2022; and International Invention, Innovation & Technology Exhibition (ITEX) 2022.

Singapore prioritises business events for recovery

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Singapore, 19th April: The Singaporean government has announced a S$500 million (US$368 million) subsidy to support the recovery of Singapore’s travel industry – placing emphasis on new unique attractions, and events with a sustainability and business tourism focus.

Although the government expects a full recovery of international travel will take several years, this subsidy is expected to speed the recovery of Singapore’s tourism and events sector in the short-term. This news follows the opening of Singapore’s borders on 1st April to fully vaccinated travellers, without requiring COVID-19 testing or quarantine on arrival.

TCEB holds first FAM trip in two years

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Thailand, 11th April: The Thailand Convention and Exhibition Bureau (TCEB) held its first international FAM trip in two years. The 2022 Thailand MICE Familiarization Trip was organised for international delegates. It attracted 43 entrepreneurs from various part of the MICE industry. Delegates arrived from 15 countries and regions.

The FAM trip was made possible due to the Thai government’s easing of COVID restrictions and reopening the country to international visitors. TCEB focused on introducing the delegates to key MICE venues and attractions in Bangkok and Phuket.

DLG’s revenues dropped 69% in FY2021

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Shanghai, 9th April: Last week, Shanghai-listed DLG Exhibitions (formerly Shanghai Lansheng) released its financial results for the year ended 31st December 2021. Revenues in the year were US$145 million. This represents a year-on-year decrease of 69%. Net profits fell 13% year-on-year, down to US$19 million. Diluted earnings per share in 2021 were RMB 0.224 (US$0.035).

In 2021, DLG held 12 physical exhibitions resulting in gross space sold of nearly 600,000 m2. The events attracted some 500,000 visitors. In the second half of 2021, exhibitions were postponed or cancelled due to COVID restrictions. In the beginning of 2022, COVID infections in China began to rapidly increase which severely impacted DLG’s exhibition business. Management expects the pandemic to have a large adverse impact on the company’s financial results in 2022.

CCID posts surprising rise in profits in FY2021

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Beijing, 8th April: Hong Kong-listed CCID Consulting, a research and information service provider in China, has announced its financial results for the year 2021. Revenues in the year were US$37 million, up 11% year-on-year.

The company’s net profit jumped 57% compared with 2020, reaching US$6.5 million in the recent financial year. Diluted earnings per share in the year were RMB 0.0577 (US$0.0091).

MEX Exhibitions to launch new Indian events

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New Delhi, 30th March: MEX Exhibitions has announced plans to launch new events in India. Leather Asia Expo and Shoe Technology 2022 will be held later this year in collaboration with India Exposition Mart.

The new shows will run from 10th to 12th November 2022 at India Expo Centre and Mart, Greater Noida, Delhi – NCR. The exhibitions will aim to serve the entire leather and footwear technology value chain industry. Mex Exhibitions is targeting exhibitors in the following segments: raw leather, leather products, footwear, and technology firms focused on the footwear industry.

Quick takes

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SNIEC venue converted into hospital

Things are going from bad to worse in China – especially in Shanghai. Both SNIEC and the Shanghai World Expo Centre have been designated as quarantine sites for asymptomatic patients. City authorities have plans to transform more venues and stadiums into temporary hospitals. 2022 is increasingly looking like a complete write-off for the exhibition industry in China.

Hyve confirms plans to sell Russian events

In a company trading update, Hyve confirmed that it has entered into a conditional agreement to sell its entire Russian portfolio to Rise Expo Limited for US$94 million payable over a ten-year earn-out period. Hyve’s management noted that the Group expects to report a loss the deal.

More Asian governments ease COVID restrictions

More good news from Asia. In Jakarta, vaccinated international travellers no longer need to complete a PCR test on arrival and visa-free entry has been expanded to all travellers from ASEAN countries to Indonesia. In Thailand, the government plans to drop PCR tests for foreign visitors beginning in May.

Quick takes

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Arc acquires Incisive

It seems that the much-anticipated post-pandemic M&A boom may have begun. UK-based Arc, which is led by Simon Foster, announced that it has acquired Incisive Media. The deal includes titles such as Investment Week, Professional Pensions, Professional Adviser, Cover, International Investment, Financial Services Forum and BusinessGreen.

 

UFI Asia Week wraps up

Last week, UFI held its inaugural UFI Asia-Pacific Week in place of the regular annual UFI Asia-Pacific Conference. This initiative allowed members, as well as the wider community, to gather face-to-face despite travel and gathering restrictions. Member-led activities were held in ten markets across the region – including Tokyo, Sydney, Singapore, Bangkok and Seoul.

COEX appoints new CEO, head of AKEI

In Seoul, the COEX venues announced the appointment of Dong-ki Lee as its new President and CEO. Lee was previously head of Korea International Trade Association’s Innovation Growth Division. He will also take leadership of the Association of Korean Exhibition Industry (AKEI).

 

US leads urge Biden to drop all COVID restrictions

The US is essentially open for business now, but the CEOs of US airlines as well as airline lobbying groups are urging the Biden administration to drop remaining COVID travel restrictions including testing and masking.