On the 11th of December, CTICC Chief Executive Officer Julie-May Ellingson announced the convention centre’s 2017/18 Annual Financial Results, which showed that not only had the CTICC achieved recording breaking revenues and impressive operating profits but importantly had made substantial contributions of R4.5b to the South African national GDP and R3.1b to the GGP of the Western Cape.
According to the Association of International Convention Centres (AIPC), the 2017 average growth rate for centres around the world was 9%. The CTICC exceeded this by growing their revenue by over 14%. This was also double the AIPC’s forecasted growth rate of 7% for 2018 and reaffirms the CTICC’s position as one of the world’s leading, international convention centres.
“In 2017/18 our revenue increased by 14.2% from R215.6m to R246.3m, while Earnings Before Interest, Tax, Depreciation and Amortization (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 made a net contribution to foreign exchange earnings of R681m.
For the year under review, the CTICC received an overall customer satisfaction index of 85%, a healthy 7% above the target of 78%.
“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.”