GL Events * (360) | Buy | Built for the big stage

研报英文原文证据摘录

GL Events * (360) | Buy | Built for the big stage

02 July 2026

Market data as of: 01 July 2026GL Events

France | Support services MCap: EUR951.5M

Built for the big stage BuyTarget(NotPrice:Rated)EUR38.00

Current Price: EUR32.45

Up/downside: 17.1 %

What's it all about? Change in TP: none

GL Events is a leading event-industry platform combining event infrastructure, venue Change in Sales: none 26E/none 27E

management, and proprietary exhibitions. It offers exposure to attractive trends

including live experiences, international mega-events, and long-duration

concessions. We see the strongest growth opportunities in the repeatable

international event pipeline, where GL Events has a competitive edge, and

increasingly in Venues, where concession ramp-up, new wins, and local platforms

should unlock cross-selling. Selective M&A remains an additional lever. We view

Exhibitions as less attractive, given its smaller scale, greater macro and biennial

exposure, and less differentiated positioning. With financial flexibility and recurring

cash generation, GL Events can fund its strategy and deploy capital selectively. We Baptiste de Leudeville Equity Research Analyst

initiate coverage with a Buy rating, although upside is more limited following the +33 1 53 65 36 55

2025 rerating. research team

Biographies at the end of this document

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