GES Scores 12.2 Percent Revenue Jump in Q2
GES’ second-quarter revenues were up 12.2 percent to $320.1 million from $285.4 million during the same period the year before.
“GES delivered second-quarter results that surpassed our prior guidance, with a revenue increase of 12 percent year-over-year and an adjusted segment EBITDA margin of 12.5 percent,” said Viad’s president and CEO Steve Moster.
He added, “The upside to guidance was broad-based and fueled by industry growth, solid execution by the GES team and our efforts to position GES as the preferred global, full-service provider for live events with a comprehensive suite of offerings. Our U.S. base same-show revenue growth was better than anticipated at 7.5 percent and we continue to realize strong international revenue growth from new business wins.”
Moster took time to answer some questions about what’s impacting GES’ results right now, the Poken and ON Services acquisitions and where the company is seeing growth.
TSNN: There were a few things noted as reasons for the positive results, one was show rotation - what shows can you point out as having an impact?
Moster: Our largest non-annual event during the quarter was the Paris Air Show. In addition to positive show rotation, we saw broad-based growth across most shows with strong same-show revenue growth of 7.5 percent in the U.S. and significant new business wins internationally.
TSNN: How has the response been with Poken? Have clients had feedback from attendees as well?
Moster: Many of our clients are familiar with Poken and have shown interest in activating it at their event.There is also a lot of excitement among our team members about being able to provide this event engagement tool to clients. The pairing of Poken with our existing registration software provides event organizers even more insightful analytics and reporting to drive enhanced event performance. And we are seeing good traction in selling the combined offering.
TSNN: I saw that U.S. same-show growth still has a strong showing. Where is the spend going? Actual space? Marketing? other services?
Moster: Our base same-show revenue in the U.S. grew by 7.5 percent which was larger than expected. We’re seeing broad-based growth across events, including increased net square footage and higher spending by exhibiting companies.
TSNN: Any new business you can talk about? I saw mention of international ones?
Moster: Some new wins include:
- GSMA’s Mobile World Congress America
- American College of Surgeons’ Clinical Congress
- ASTRA/Marketplace and Academy
TSNN: How has the acquisition of ON Services impacted overall offerings to GES clients?
Moster: With the addition of ON Services, GES can provide clients and event participants with cutting-edge live event audio visual solutions from conception through execution - from large-scale entertainment experiences and complex general sessions to sporting events, conferences, and exhibitions
TSNN: Where are you seeing the most growth within GES?
Moster: We continue to see solid industry growth. Shows are up across the board, and GES’ ability to provide a full suite of live event services is accelerating our growth.