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CWT reports strong performance in 2013

February 20, 2014 Financial No Comments Email Email

Carlson Wagonlit Travel (CWT) today announced strong financial results for 2013.

Operation-SmileKey growth was recorded in CWT’s new business sales, with USD $1.9 billion posted in 2013. The company’s specialist business divisions including CWT Energy, Resources & Marine and consulting arm CWT Solutions Group also reported significant growth.

Overall sales volume decreased by 2.7 percent to USD $26.9 billion, reflecting the continuing variable global economic climate and sequestration efforts in the United States that have led to a reduced demand for Military and Government travel. The number of transactions managed by CWT declined by 2.3 percent to 60.3 million. However excluding U.S. Military and Government figures, CWT’s sales volume increased by 0.3 percent and the number of transactions managed by CWT increased by 0.4 percent.

CWT grew most in the Asia Pacific region, where transactions increased by a 4.5 percent year over year, enhanced by operations in China and Japan, which both performed well. Strong revenues were recorded in Hong Kong with 23 percent and China recording 9 percent growth.

Excluding U.S. Military and Government transactions North America increased by 0.9 percent. Transactions in Latin America decreased by 2.2 percent year on year, despite strong performance in Mexico, while a drop of 0.8 percent was recorded in Europe, the Middle East and Africa, reflecting the delicate economic climate throughout the region in 2013.

CWT’s client satisfaction scores were particularly strong, with a 98 percent retention rate combined with 91 percent satisfaction rate from travel managers, as well as an 88 percent satisfaction rating from travelers themselves. Last year also saw CWT To Go, CWT’s award-winning app, reach 150,000 downloads.

Douglas Anderson, CWT president and CEO commented: “While the global economic environment remained challenging in 2013, our new business and client retention figures position us well for growth in 2014. CWT remains committed to delivering the best in innovative products and technology, combined with best-in-class customer service.”

Continued growth in specialized business divisions
CWT saw further strengthening in 2013 in its range of specialized services. CWT Energy, Resources & Marine, CWT’s division which is entirely dedicated to facilitating travel for clients operating in oil, gas services and maritime and drilling exploration, saw 2013 revenues grow by 9 percent. The division managed more than 1.8 million transactions for customers in 2013.

CWT Energy, Resources & Marine works with many of the world’s top energy companies including those specialist businesses looking after exploration & production, drilling and oilfield services. The 2013 results show energy companies are increasing their travel globally, particularly in areas such as Latin America, Asia Pacific and Africa as they search for new energy sources and develop facilities around the world.

In December 2013, travel industry veteran Monisa Cline took the role senior vice president, CWT Energy, Resources & Marine, and will focus on further strengthening and expanding CWT’s energy, resource and maritime business in 2014.

CWT Solutions Group, CWT’s consulting arm, continued its growth in 2013 with an increase of 4 percent in revenue. This was a significant year for CWT Solutions Group, which saw the successful launch the CWT Travel Stress Index (TSI). TheTSI scooped a number of awards, including the GBTA Project ICARUS Europe Travel Supplier Outstanding Achievement Award 2013 and the recent 2014 Business Travel Award for Best Corporate Social Responsibility (CSR) Program.

CWT Meetings & Events organized 35,000 meetings and events around the world for more than one million delegates. Revenue decreased by just under 1 percent globally in 2013, reflecting the economic situation in Europe as clients reduced their event spend to offset the impact of a weak economy. Anderson concluded “As the landscape of business travel changes, we are confident that we have the expertise and technology in place to remain at the forefront of the industry. Across the globe our CWT teams are dedicated to delivering the very best to our clients – wherever they are, and however they wish to engage with us.”

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