‘Strong growth’ for Carlson Wagonlit
Sales generated under the Carlson Wagonlit Travel brand grew by 12% to $22 billion last year over 2004.
Sales booked through CWT’s wholly owned operations increased by 22% to $13.7 billion.
Sales for CWT wholly owned companies and joint ventures grew 20% in North America, 18% in Europe, Middle East, Africa and 60% in the rest of the world. The countries that showed the highest growth were Australia, China, Germany, India and Italy.
Net income totalled $56 million in 2005 versus $39 million a year earlier, with net revenue up by 15% to $1.19 billion, compared to $1.04 billion in 2004. Operating income reached $81 million, versus $58 million year-on-year.
The world’s second largest travel management company has already achieved $600 million in new sales, excluding renewals, in the first two months of 2006, revealed president and CEO Hubert Joly.
He attributed CWT’s gains to overall growth in the business travel market, strong client retention and robust new sales of more than $1.3 billion, excluding renewals, in 2005.
He said slower growth of revenue in the second half of the year was primarily related to a higher base in the second half of 2004, resulting most notably from the acquisitions of Maritz and Protravel, which closed in May of that year.
Joly said: “Our growth highlights the relevance and value of the services we provide to clients worldwide, as well as the effectiveness of our global, integrated organisation. It also shows that we are making tremendous progress in becoming a high-tech, professional services provider, delivering savings, service, and security to our clients around the world.”
He also indicated that the difference between traffic growth and revenue growth in 2005 illustrated CWT’s leadership in driving online adoption for clients around the world.
CWT said online bookings increased 48% last year, with more than half of all transactions in the commercial market in the US now performed online. Meanwhile, online bookings in Europe increased by 51%. In Australia, the growth of CWT’s online bookings rose by 158% to represent 15% of the company’s bookings in the country.
Meanwhile, the company said hotel bookings increased by 25% on a pro-forma basis.
Report by Phil Davies
Phil Davies
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