GES 2013 Full-year Net Income Up, Revenues Down
February 9, 2014
Viad, the parent company of Global Experience Specialists, saw its 2013 full-year income from continuing operations rise, but its revenues drop year-over year, compared with 2012, mainly attributed to negative show rotation.
Viad’s full-year income from continuing operations rose to $20.4 million to end last year, compared with $5.3 million in 2012, and revenue of $972.8 million was down $52.4 million, or 5.1 percent, from 2012.
Even with the overall revenue decrease, GES saw a profit uptick, doubling from $5.6 million in 2012 to $11 million last year.
Full-year revenues for GES in the U.S. dropped 7 percent, though, from $676.8 million in 2013 to $628.9 million in 2012.
“I’d like to thank the GES team,” said GES President Steve Moster. “It was a challenging, yet successful year. … We doubled profits in the U.S., which shows signs the industry is growing.”
Same-show growth for 2013 hovered near 3 percent, which he added also was a positive.
Even with the challenge of negative show rotation last year, this year is packed with lucrative events for GES, including CONEXPO/CON-AGG in March in Las Vegas; International Manufacturing technology Show in September in Chicago; MODEX in March in Atlanta; and the Chicago Auto Show, which is currently running, to name a few.
In addition, last year, GES was awarded the full contract to service MAGIC Market Week, which it previously had shared with Freeman, as well as other Advanstar Communications’ shows.
Overseas, the company will take on Pennwell’s Middle East-based events.
Looking into the future, Moster said the company expects same-show growth to be in the low- to mid-budget range.
“There are some industries that will perform really well and others that will struggle,” he added. “Not unlike the overall economy.”
GES plans to continue to focus on honing company operations, including “looking to optimize facilities”, particularly on the West Coast, Moster said.
As an overall strategy going forward, after talking with its clients, employees and other stakeholders in the business, GES decided to embrace the tagline – “The Art and Science of Engagement” - that encompasses all that GES has to offer, including marketing, creative and new AV services.
“The most important thing an event marketing company does is make sure the event is produced on time and put on well,” Moster said. “(Clients also) are looking at how can we help support their success.”
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