CWT Strong In 2013
Carlson Wagonlit Travel (CWT) has announced strong financial results for 2013.
Key growth was recorded in CWT’s new business sales, with US$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% to US$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% to 60.3 million. However, excluding US Military and Government figures, CWT’s sales volume increased by 0.3% and the number of transactions managed by CWT increased by 0.4%.
CWT grew most in the Asia Pacific region, where transactions increased by 4.5% year over year, enhanced by operations in China and Japan, which both performed well. Strong revenues were recorded in Hong Kong with 23% and China recording 9% growth.
Excluding U.S. Military and Government transactions, North America increased by 0.9%. Transactions in Latin America decreased by 2.2% year on year, despite strong a performance in Mexico, while a drop of 0.8% 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% retention rate combined with 91% satisfaction rate from travel managers, as well as an 88% satisfaction rating from travellers themselves. Last year also saw CWT To Go, the company’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.”
