CTICC posts record revenues

Africa News
CTICC posts record revenues

The Cape Town International Convention Centre (CTICC) has reported record-breaking revenues and healthy operating profits.

CTICC Chief Executive Officer Julie-May Ellingson, announcing the centre’s 2017/18 Annual Financial Results on 11 December, noted the figures included a R4.5bn contribution to the national GDP and R3.1bn to the GGP of the Western Cape.

The CTICC grew its revenues over the financial year by over 14%, above the average growth rate for centres around the world of 9%, as calculated by the Association of International Convention Centres (AIPC).

“In 2017/18 our revenue increased by 14.2% from R215.6m (US$15.21m) to R246.3m, while Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) also rose well above our target of R24.3m to R57.2m. These results are particularly pleasing in the current economic climate,” said Ellingson.

The centre hosted a total number of 525 events during the period under review and claimed an overall customer satisfaction index of 85%.

“Delivering exceptional customer service is essential to our success,” Ellingson noted. “Our service delivery is measured by N’Lighten, an independent company who conduct surveys with event organisers on a monthly basis via face-to-face, telephonic and email interviews. This feedback is invaluable in assisting the CTICC to determine what we are doing right and what we need to improve upon.”

The CTICC has been in operation for 15 years, and contributed to  creating and sustained over 115,000 jobs since opening.

“Over the 2017/18 period, we created jobs for 8 553 individuals which was a 9% increase on the previous year and in an economy that is shedding jobs, this is something we are particularly proud of”, said Ellingson.

Ellingson also noted the CTICC spent R3.1m on training and said the team was proud to have achieved another ISO certification, ISO 22000 – Food Safety Management System.

The CEO added that 64 future international events had been secured for the CTICC.

Managing Editor, Conference News & Conference & Meetings World. Write Paul an E-mail