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CWT shows solid performance for 2008
Key indicators for Carlson Wagonlit Travel (CWT), a global leader specializing in business travel management, reveal strong performance in 2008, the company reported here prior to the opening of the Business Travel Show. Significant enhancements to products and services were also made.

Global sales volume for wholly owned operations and joint ventures totaled US$27.8 billion1, up 7 percent over 2007. Growth was strongest in China (25 percent)2, Brazil (24.5 percent), and Argentina (21 percent). Double-digit growth was also reported in Indonesia (19 percent), Italy (16 percent), Russia (15.5 percent), Singapore (11.5 percent), Germany/Austria (11 percent) and India (10 percent). U.K. sales outperformed the market, increasing 7 percent. U.S. sales were up 2 percent, reflecting the economic slowdown in 2008.

Annualized new sales, excluding renewals, reached US$2.4 billion, as new clients chose CWT to help them effectively manage and optimize their travel program. Among them: Essilor, Hilti, Michelin and Schneider Electric. In addition, several clients such as Henkel further consolidated their travel management activities with CWT. The U.K. Home Office was added to the company’s roster of government clients as well.

CWT enjoyed strong levels of client retention (97 percent) in 2008. The overall satisfaction of travel managers representing global clients rose to 90 percent, up from 88 percent one year earlier.

In keeping with its targeted acquisition strategy, CWT acquired six companies in North America and Europe: Traveltime Services and Piedmont Travel in the United States, CWT Madison Travel in Canada, Viajes Mapfre and Viajes Lepanto in Spain, and Executive Travel Group in Ireland. The company also took full control of its joint ventures in Argentina and India.

Douglas Anderson, CWT president and chief executive officer, saluted the company’s performance in what was and will continue to be an economically challenging business environment: “It’s fair to say that 2008 had the travel industry and the business world at large on its toes. Few of us working today have ever experienced such a radical combination of financial and economic factors impacting us on a global basis.

Nevertheless, Carlson Wagonlit Travel boosted its performance by focusing on client service, enhancing products and solutions, and balancing organic growth with acquisitions. Although 2009 will present new tests for all of us, CWT will continue to demonstrate the value of a well-managed travel program. This is especially important to our clients in difficult times.” Tatiana Rokou - Wednesday, February 11, 2009