CWT witnesses strong growth in 2005

Carlson Wagonlit Travel (CWT) has shared that it has witnessed strong growth in 2005, with total sales generated under the CWT brand increasing 12 percent to $22 billion.

The company shared that consolidated traffic – sales booked through CWT’s wholly owned operations – grew 22 percent to $13.7 billion. Net revenue for the full year rose 15 percent to $1.19 billion, compared to $1.04 billion in 2004. Operating income reached $81 million, versus $58 million year over year. Net income totaled $56 million in 2005 versus $39 million a year earlier.

The company attributed the gains to the overall growth of the business travel market, as well as strong client retention and robust new sales of more than $1.3 billion, excluding renewals, in 2005.

Hubert Joly, president and chief executive officer 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.”

Joly added that in the first two months of 2006, CWT had already achieved $600 million in new sales, excluding renewals.

Accor said recently it was looking to sell its 50 percent stake in CWT and was talking to Carlson. Joly said that no decision had been taken. “If ever there were a change in our shareholdership there would not be any impact on our ability to serve our customers around the world,” he told media.