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.”
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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