The Conference Centre presents its financial statements for 2020 in a year marked by the pandemic
At the Board Meeting held today, the Valencia Conference Centre's Board of Directors have approved the venue’s 2020 financial statements. The year's results have been marked by the pandemic.
In 2019, the Centre recorded one of the best years in its history, with business increasing by 34% and significant growth in its international outreach. However, the initial excellent outlook for 2020 took a radical turn after the coronavirus broke out, reducing business and variable expenses by 70% and 77%, respectively, compared to the previous year.
The Centre reacted swiftly to the situation and implemented austerity policies that managed to reduce overheads by 28% compared to 2019. As a result, pre-tax profit was €63,913 and EBITDA (earnings before interest, taxes, depreciation and amortisation) amounted to €885,048.
The enforced hiatus brought by COVID-19 enabled the venue to identify the most appropriate strategies to deal with the health emergency and to join initiatives launched by the industry, thereby adapting its facilities to the new needs demanded by event organisers. It managed to implement stringent safety protocols in record time and developed innovative technological projects, such as hybrid events, which enabled it to continue to hold meetings and retain the trust of its clients, who gave the Centre a score of 5.74 out of 6 in terms of satisfaction.
Thus, thanks to the team's efforts in research, innovation and sustainability projects, from the second half of the year onwards, event organisation was resumed, with 46 meetings being held throughout the year, attended by 35,740 people. The work of the Centre’s team ensured that more than 60% of the scheduled activities were maintained, postponing them to other years. In addition, 93 event bids were submitted with the Centre winning 17 of them.
At the same time, the Centre demonstrated its charitable spirit by hosting blood donation days in May and October, organised by the Valencian Region's Blood Transfusion Centre. Furthermore, as part of its social commitment, it launched the SDG Project, based on the United Nations’ Sustainable Development Goals, thus helping to move forward on Valencia's smart city strategy, adopting urgent measures to combat climate change and its effects, and ensuring sustainable consumption and production methods.
These facts and figures were presented to the Valencia Conference Centre's Board Members in the 2020 annual activity and management report.
In the words of Emiliano García, Chairman of the Board of Directors, "the adaptation and projects undertaken in 2020 by the Centre are the starting point to address new developments in communications and infrastructures in 2021 to improve the visitor experience and further enhance process management. This will constitute the backbone for the digital transformation of the venue's activities in a new context that will also enable us to minimise our environmental impact as much as possible and contribute to Valencia's ‘Sustainable Smart City’ strategy.
We are now seeing a gradual return to normality in congress activities which, given the current restrictions, enables us to progressively contribute to revitalising the local economy and offers hope for the medium and long term, whilst always taking into account the community's social and health situation."