Aichi Sky Expo
On 30 August, the Aichi Prefecture, GL events and its partner, Maeda, in the presence of the Governor of Aichi Prefecture, the Mayor of Nagoya, Olivier Ginon, GL events' Chairman-CEO, and more than 1,100 guests, inaugurated the Aichi Sky Expo International Exhibition Centre, one of Japan’s largest and most modern facilities.
Aichi Sky Expo, an 80,000 sqm exhibition centre, is located in Tokoname in the metropolitan area of Nagoya, Japan's 4th largest city, within the country's largest industrial region, Chūbu. This region is home to the headquarters of the leading automotive manufacturers and large aerospace and robotic groups. This project represents a first in two respects: Aichi Sky Expo is the first Japanese exhibition centre whose management has been entrusted to a private operator and it is the only exhibition centre in the country with direct access to an international airport.
GL events and Maeda Corporation, a Japanese construction and civil engineering company, will manage this new strategic infrastructure for the development of the regional and national event industry markets. With the support of a dedicated team of 24 employees, GL events thus demonstrates its ability to open a new site 18 months after the signature of the management concession agreement. For its first six months of operations, Aichi Sky Expo thus far confirms reservations for more than 50 events. Aichi Sky Expo is the first concrete milestone in GL events' development in Japan.
In addition, the Group has already signed contracts for the provision of services representing €20 million in revenue (grandstands and seating systems, structures, furniture, signage, etc.) for the 2020 Tokyo Olympic Games which, with the 2019 Rugby World Cup, represent the major upcoming international sports events that will be held in this country.
GL events' signature of cooperation agreements with the Aichi Prefectural Government and Congress Corporation, a major congress and event organiser in Japan, has further bolstered the Group's dynamic in this market.
Guangzhou Yuexiu International Convention Centre
These developments in Japan are part of its broader ambition to strengthen the Group's market positions in Asia, notably in China, the world's second-largest market in the trade show segment. In 2019, GL events has completed three majority-stake acquisitions (ZZX, CIEC UNION and FASHION SOURCE EXHIBITIONS) and is preparing for the opening in May 2020 of a 50,000 sqm convention centre in Guangzhou.
As a result of these acquisitions, GL events has major bases of operations in Asia in its three business lines. The Group will continue the development of its integrated event industry business model in this strategic continent already expected to account for more than 7% of Group consolidated revenue in 2019 and in 2020 should generate revenue of more than €110 million.
