The Valencia Conference Centre to pay off its debt in 2019
At a meeting held today, the Valencia Conference Centre's Board of Directors approved the venue’s annual accounts for the 2018 financial year. According to Sandra Gómez, the Valencia City Councillor for Sustainable Economic Development and Chairwoman of this self-governing municipal body, "the figures submitted consolidate the economic recovery that has taken place in recent years, with a 32% increase in business compared to 2017." Profit for the year came to €1,588,807 and EBITDA (earnings before interest, taxes, depreciation and amortisation) stood at €1,625,621.
"These figures enabled the venue's debt to be reduced by €1,229,188 in 2018. Furthermore, by allocating the profits from 2018 to repay the debt ahead of time, this will be fully paid off by the end of 2019", explained the Councillor, who presented these figures together with the Conference Centre's Managing Director, Sylvia Andrés.
In its twentieth anniversary year, the Conference Centre held more than a hundred events, with a sharp increase of 56% in the number of congress delegates compared to the previous year, spearheaded by the medical sector, which is the main customer for this type of events. As a result of these activities, a total of 90,729 overnight stays were recorded, up 36% on 2017.
In terms of types of events, 2018 was markedly international year, with the number of overseas participants doubling, "which contributed to a greater economic impact for the city". Some of the most important events held during the year were the Framesi Convention, the International Association of Professional Translators and Interpreters’ Congress, the 19th European Congress on Trauma & Emergency Surgery, Euromembrane 2018 and the 32nd European Society for Vascular Surgery Congress.
The sales work carried out to attract new events is another of the most relevant aspects of the management report that was presented at the meeting. with a total of 800 sales and inspection visits being made in 2018. As a result, the Centre presented 88 new bids and won 65. At present, a total of 52 congresses and conventions have already been confirmed in the Conference Centre's portfolio until the end of 2022, which will generate around 130,000 overnight stays in Valencia.
According to Sandra Gómez, "this is also the result of improving the services offered in the venue, thanks to the €360,000 invested which has been used to adapt the facilities to the demands of event organisers". “More breakout rooms, the improvement of stage equipment and elements to optimise the production of sustainable energy from the photovoltaic roof are just some of the initiatives that have been implemented so that the venue can continue to maintain its competitive edge and leadership", explained the Councillor.
In addition, Gómez highlighted that, in parallel to its activities, "the building also stepped up its social commitment during the year", referring to the holding of charity events and actions that contributed to research projects, the training of healthcare workers for the third world and the promotion of employment for people with functional diversity, initiatives which were carried out by the Spanish Cancer Association (Valencia branch), Surg for All and the ONCE Foundation.
To conclude her speech, the Councillor reiterated "that the Valencia Conference Centre ends a financial year in which its positive results will enable it to pay off all of its debt in 2019, and in which there has been significant growth in business, mainly in the international sphere." In addition to these figures, the Centre was chosen as the World's Best Convention Centre by the International Association of Conference Centres (AIPC) for the second time in its history, thus endorsing the high degree of customer satisfaction and recognition of the venue on its 20th anniversary", she concluded.