Investor Presentaiton
GES SEASONALITY
GES' exhibition and event activity can vary significantly from quarter to quarter and year to year depending on the
frequency and timing of shows. Some shows are not held annually and some shift between quarters.
GES Revenue (1) by Quarter ($M)
320 315 321
318
287
285
281
268 262
242 232
246
232
218
219
236
228
Q1
19
154
Q2
25 25
Q3
179
79
116
282 279
263
246
214
160
19
Q4
2016 2017 2018 2019
2020
2021 2022
2023
(1) Revenue has been adjusted in 2019 for immaterial errors related to the revenue recognition of GES' Corporate Accounts' third-party services, which are now reported on a net basis
to reflect only the fees received for arranging these services.
Note: GES revenue changes due to the frequency and timing of major non-annual shows, which include IMTS and MINExpo. During 2020, exhibition and event activity was largely
cancelled or postponed after mid-March due to the COVID-19 pandemic. IMTS is a biennial show that occurs in the third quarter (cancelled in 2020). MINExpo is quadrennial show that
occurs in the third quarter (2020 occurrence postponed to 2021). The Paris Air Show (occurs in the second quarter) and the Farnborough Air Show (occurs in the third quarter) are
biennial shows that alternate years. CONEXPO-CON/AGG was the only major non-annual show that occurred as scheduled in March 2020 and will not be serviced by GES in 2023. 49
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