GLOBUS Events expands in the China exhibition market

/

China, 24th October: GLOBUS Events (formerly VNU Exhibitions Asia) announced its expansion strategy, supported by Advent International.

GLOBUS Events has concluded acquisitions of three exhibitions in China, under Advent’s portfolio. The acquired exhibitions were Powder Metallurgy (PM) China, International Exhibition for Advanced Ceramics (IACE) China, and China Pet Expo (CPE).

Founded by Uniris Exhibition Shanghai Co., Ltd, PM China and IACE China based in Shanghai and Shenzhen, serving the powder metallurgy and advanced ceramics industries. CPE, one of the largest pet products exhibitions in the northern China, was established by Beijing Lanneret International Exhibitions in 2014 in Beijing.

GLOBUS Events also announced Jimè Essink, an Operation Partner of Advent and former President & CEO of Informa Markets Asia, as a Board Member of GLOBOS Events.

Other expansions include TCT Asia, a leading 3D printing and additive manufacturing event in the Asia-Pacific region. It was launched in Shanghai in 2015, through a JV partnership with the U.K.-based Rapid News Group. GLOBUS Events is also the co-organiser of DOMOTEX Asia/CHINAFLOOR, R+T Asia, Salone del Mobile.Milano Shanghai, and VIV Select China.

Edwin Tan, CEO of GLOBUS Events, said, “These acquisitions align with our strategy to grow our portfolio within the industries we presently serve. Together with our shareholder, Advent International, we are committed to expanding and enhancing our crucial role as the organizer of some of the largest in-person trade platforms in Asia, as well as positively contributing to the development of China’s exhibition industry.”

RELX releases trade update

/

London, 24th October: RELX Group plc, parent company of RX Global (formerly Reed Exhibitions), reported underlying revenue growth of over 7% for the first nine months of 2024.

The company also reaffirmed its outlook for the full year 2024. It is reported the company see positive momentum across its business and expect strong underlying growth in revenue and adjusted operating profit.

The exhibitions business grew over 13% in the first months of 2024 due to improved growth profile of its event portfolio and a favourable comparison with the early part of the previous year. It is expected a strong underlying revenue growth with an improvement in adjusted operating margin for the year.

Meorient decreases in revenues and profits

/

Hangzhou, 30th October: Earlier this week, Meorient, a Chinese exhibition organiser listed in Shenzhen, announced its financial results for the nine months ended 30th September 2024. Revenues in the period were US$61 million, a year-on-year decrease of 9.4%.

The Hangzhou-based company’s net profit dropped 17% year-on-year, down to US$9.7 million. Diluted earnings per share in the first nine months of 2024 were RMB 0.30 (US$0.043).

The company did not comment on the changes of its revenues and profits.

The Shenzhen-listed company also reported its financial results for the quarter ended 30th September. Revenues in the quarter were US$24 million, representing year-on-year growth of 42%. In the third quarter, the company’s net profit jumped 396%, reaching US$3.9 million.

Meorient organises B2B sourcing shows to bring Chinese exhibitors to overseas markets including India, Turkey, U.A.E., Mexico, Poland and Brazil.

DLG Exhibitions’ revenues down 3.3%

/

Shanghai, 26th October: DLG Exhibitions & Events (formerly known as Shanghai Lansheng), a Shanghai-listed exhibition organiser and conglomerate, has released its results for the nine months ended 30th September 2024. The company generated revenues of US$133 million, representing a year-on-year decrease of 3.3%.

The company posted a decline of 17% in its net profit, down to US$29 million in the first nine months of 2024. Diluted earnings per share in the nine-month period were RMB 0.28 (US$0.040).

In the reported period, the company hosted and organised a total of 17 exhibitions occupying a scale of over 1.01 million m2. The Shanghai World Expo Exhibition and Convention Center, the venue operated by DLG, held some 65 exhibitions and events, with a total rental area of over 8 million m2.

During the third quarter, the company has transferred 4 shares for every 10 shares to all shareholders from the capital reserve, following the approval of the “2024 Annual Profit Distribution and Capital Reserve Transfer Plan (translated name)”.

DLG also announced its financial results for the quarter ended 30th September. Revenues in the quarter were US$49 million, dropping 14%. However, the net profit grew 143% in the quarter, amounting at US$17 million.

Quick takes

/

Sri Lanka’s largest convention and gaming centre opens

Sri Lanka’s Cinnamon Life at City of Dreams has recently opened, becoming the largest hotel and convention centre in Sri Lanka. It provides 687 luxurious rooms, multiple entertainment venues and state-of-art-convention facilities. Convention facilities include Lumina Ballroom, capable of accommodating over 1,860 guests; Forum, offering a capacity of 1,280 guests; and also Studio, Boardrooms, Cumulus Ballroom, Celestine Ballroom and Podium, accommodating between 200 and 1,200 guests.

UFI introduces new logo and brand identity

UFI, The Global Association of the Exhibition Industry, has revealed a new logo and updated branding. According to UFI, the new logo marks the beginning of the association’s centennial, showcasing legacy, reflecting the evolution of the organisation.

ASM Global appoints new CEO at ICC Sydney

ASM Global, management company of International Convention Centre Sydney (ICC Sydney), announced leadership changes for the venue. Adam Mather-Brown, the current General Manager, has been appointed as the Chief Executive Officer, following the retirement of former CEO, Geoff Donaghy.

General Manager appointment for Nyaal Banyul

Nyaal Banyul Geelong Convention and Event Centre, the new venue operated by Melbourne Convention and Exhibition Trust (MCET), appointed Rick Aylett as the General Manager. He has been served as the Project Director for Nyaal Banyul since 2022.