Business Events Perth Annual Report 2025

B USINESS EVENTS PER T H AN N U AL R E P O R T 2 0 25

A C KNO W L ED GEM EN T O F C O U N TR Y We respectfully acknowledge Aboriginal Peoples as the Traditional Custodians of Western Australia and pay our respects to Elders past and present.

We celebrate the diversity of Aboriginal Western Australians and honour their continuing connection to Country, culture and community.

We recognise and appreciate the invaluable contributions made by First Nations Peoples across many generations in shaping Western Australia.

K A RR I F OR EST S

C ONT E N T S 1.0 OVERVIEW 1.1 Message from the Chair 1.2 Executive Overview

1 1 4

2.0 ORGANISATION PERFORMANCE 2.1 Report on Operations 2.2 Key Performance Indicators 2.3 Member Partners 2.4 Highlights 2024 - 25: Business Events in WA

7 8 10 11 13

3.0 DISCLOSURE AND LEGAL COMPLIANCE 3.1 Director’s Report 3.3 Board of Directors 3.4 Auditor’s Independence Declaration 3.5 Financial Statements

17 18 21 24 26

4.0 ACKNOWLEDGEMENTS 4.1 Major Stakeholders and Major Partners 4.2 2024 - 25 Platinum Members

57 58 58

1 .1 M ESSAG E F R OM T H E CH AIR

1 .0 OV E RV I E W

W T T C 2024 1

This has been a year of increased opportunity for Business Events Perth and the broader business events industry in Western Australia (WA). With strong support from the Western Australian Government, stakeholders and member partners, we are well-positioned to drive future growth, navigate challenges, create meaningful connections and collaborations to deliver significant economic results for the State.

In 2024-25, Business Events Perth proactively increased its activity across the industry, with a strong focus on connecting in-person with key decision-makers to identify, attract, and secure high-value business events for WA, while also driving increased destination awareness.

Our participation in international roadshows, at global tradeshows, through conference activations, and the delivery of tailored site inspections and familiarisation programs alongside stakeholders and the WA industry has played a critical role in actively engaging and educating clients about the State’s business event offerings to convert business for WA. The business events industry in Western Australia was recognised in 2025 with a significant elevation in its global standing amongst competitor destinations with the International Congress and Convention Association (ICCA)

awarding Perth as one of the top 25 business event destinations across over 300 cities in the Asia Pacific region.

On behalf of the Business Events Perth Board and Executive team, we thank the Government of Western Australia for their support and recognition of Business Events Perth’s role in attracting high-value business tourism to the State. We particularly acknowledge the ongoing support of the Premier, the Honourable Roger Cook MLA; the Honourable Rita Saffioti MLA, former Minister for Tourism and current Deputy Premier, Treasurer, and Minister for Transport, Sport and Recreation; and the Honourable Reece Whitby MLA, Minister for Police, Road Safety, the Great Southern and Tourism.

We acknowledge and thank our Major Stakeholder, Tourism Western Australia, particularly Tourism Western Australia’s Board, led by Chair Di Bain, Chief Executive Officer Rebecca Brown (former) and Managing Director Anneke Brown for their extensive support and collaboration with Business Events Perth throughout the year. This active engagement included Board to Board strategic planning toward a five-year Business Events Strategy, aligned to WAVES 2033 and Diversify WA. As a major contributor to this work, we also extend

our appreciation to former Acting Managing Director Stephanie Underwood for her longstanding strategic engagement with Business Events Perth.

Major Stakeholder, the City of Perth, continued to provide valued support and we acknowledge the ongoing contributions of Acting Lord Mayor Bruce Reynolds, former Lord Mayor Basil Zempilas, and Chief Executive Officer Michelle Reynolds in promoting Perth to secure business events to our capital city.

Business Events Perth is proud to work alongside our Major Partners, Crown Perth and the Perth Convention and Exhibition Centre, as well as all Business Events Perth member partners, whose support is instrumental in realising our Team WA engagement and attracting and securing business events to Western Australia.

Finally, my sincere thanks to CEO Gareth Martin and the entire team at Business Events Perth for their professionalism, innovation, and tireless efforts in championing Western Australia as a premier destination for business events.

Together, as a united and focused industry, we remain committed to positioning Perth and Western Australia as a leading, world-class destination for business events.

BRADLEY WOODS Chair

I would like to personally thank Michael Scott, the Chair of the Finance, Audit, Risk and Membership Committee, for his valuable contributions and extensive corporate insights he brings to the Board. I am also deeply grateful to all current and former Board Directors for their much valued time, expertise and commitment.

2

1.0 OVERVIEW

ROUTES ASI A 20 25 3

1.0 OVERVIEW

1 . 2 E XE CU T I V E O V ER V I E W Funded by the Western Australian Government through Tourism Western Australia, the City of Perth and our Industry Member Partners across the State, Business Events Perth has been securing lucrative conferences, meetings and incentive groups, attracting international and national business travellers to Western Australia for over 50 years.

This year saw accelerated business development activity, with a strategic focus from Business Events Perth on connecting in-person with clients and stakeholders across domestic and international markets. The following activities were undertaken to generate new business development opportunities and convert near term business:

Business events attract significant out of State visitation, bringing professional association and corporate team members together, and driving economic growth, trade, and investment opportunities for Western Australia. Their lasting legacies extend beyond significant direct tourism expenditure, creating long-term value through knowledge exchange, innovation, and collaboration.

•

I gratefully acknowledge the ongoing support and increased investment from the Government of Western Australia, through Tourism Western Australia, in enabling Business Events Perth to secure high-value business events and delegates for the State. The influx of business and corporate travellers stimulates spending across local businesses, supporting jobs and enhancing the overall vitality of Western Australia.

•

Exhibiting at the leading trade event for the meetings and event industry in the Asia Pacific region, the Asia Pacific Incentives and Meetings Event AIME 2025. Western Australia was represented by its largestever delegation, with 24 WA industry stand partners. Business Events Perth also co-hosted a client function during AIME, attended by over 150 association and corporate clients.

Business Events Perth held two large mega familiarisation programs. BE-ReWArded was held in November 2024, for 25 prequalified international clients. The program featured two tailored itineraries for China and South East Asia, more than 60 WA industry members and suppliers and generated significant outcomes with $13.2 million in business under development. Re-aWAken was held in March 2025, for 36 qualified participants from national and international

associations, corporations and professional conference organisers (PCOs). The program featured three tailored itineraries to showcase Western Australia’s business event offerings, involving over 50 local suppliers across metropolitan Perth, Australia’s North West and Australia’s South West, generating new business opportunities for Western Australia valued at over $50 million in direct delegate expenditure.

•

Delivered in partnership with Business Events Australia (BEA) and Qantas, and funded through the BEA Advance Program, Business Events Perth’s Chair and CEO hosted three in-market client presentation events in the UK and Europe. Engaging with over 45 international association and corporate clients, the European Roadshow reinforced Perth and Western Australia’s key strengths — affordability, sustainability, and direct air connectivity — while raising global awareness of this great state as a premier business events destination.

In the 2024-2025 financial year Business Events Perth secured over 350 national and international business events set to occur in Western Australia out to 2030 and boosting the State’s economy by more than $360.8 million in direct delegate expenditure. These are the 4

1.0 OVERVIEW

organisation’s strongest results to date with secured business events representing 96,395 delegates staying over 293,000 hotel room nights in WA. These results have been underpinned by targeted business development, client engagement and marketing initiatives that resulted in securing a diverse spectrum of national and international events.

Alongside this growth, the rise in pending bids reflects a highly competitive market, with some challenges relating to the review underway for the potential future redevelopment of the Perth Convention and Exhibition Centre. A redeveloped convention centre, improved flight access, greater airline capacity, and reduced travel costs will assist in ensuring Western Australia is competitive against significant domestic and international competition.

I would also like to thank our Major Stakeholder, the City of Perth, for their engagement with Business Events Perth to secure high-profile business events. To all our Industry Member Partners, thank you for your much valued support and collaboration and I look forward to our continued partnership for a thriving future in Western Australia’s business events industry. I would also like to acknowledge our Major Partners, Crown Perth and the Perth Convention and Exhibition Centre for their 5

significant industry financial contributions and ongoing collaboration throughout the year to actively secure major business events for WA. On behalf of the Business Events Perth team, our sincere thanks to the Board of Directors, led by Chair Bradley Woods, for their invaluable leadership, expertise, and commitment in guiding our strategic direction. Their collaborative engagement with the Western Australian Government and Tourism Western Australia has strengthened support and investment in Business Events Perth. We look forward to continuing our partnership with the Board, Stakeholders and Industry to further showcase the vital role business events play in driving the visitor economy, creating jobs, and supporting growth across Western Australia.

In closing, I would like to personally thank the Business Events Perth team for their dedication, focus and hard work throughout the year. Their commitment to delivering innovative programs, collaborating with our industry and securing a strong pipeline of business events is truly commendable, contributing significantly to the success of the business events industry across Western Australia.

GARETH MARTIN Chief Executive Officer

1.0 OVERVIEW

RE-AWAK EN 20 25 6

2.0 O RG A N I SAT ION PE R F OR M ANCE

NI NGALOO REEF | NYI NGGU L U 7

2 . 1 REP O R T O N O P E R ATI O N S Business events encompass conferences, meetings, exhibitions, tradeshows, and corporate and incentive (C&I) groups.

Collectively, they play an essential role in the tourism industry and deliver a significant, yearround contribution to the Western Australian economy. These events provide direct support for employment across a broad range of sectors, including venues, suppliers, event organisers, retail, travel, accommodation providers, and business event conveners such as industry associations and government bodies.

In 2024–25, the Business Events Perth team implemented strategic initiatives across the organisation and the broader business events sector, ensuring alignment with the objectives of the Western Australia Visitor Economy Strategy 2033 (WAVES), developed by Tourism Western Australia.

Throughout the financial year, Business Events Perth advanced its organisational strategy through an integrated approach across all business development, marketing, client engagement, and corporate services activities.

Collectively, the team worked to strengthen Western Australia’s position as a premier destination for business events while ensuring the organisation operated effectively and efficiently.

The business development function focused on identifying and securing national and international events that will not only bring economic benefit to the State but also align with Western Australia’s broader industry strengths.

Marketing and client engagement activities complemented this work by building strong relationships with key stakeholders, stewarding famil programs, delivering destination marketing campaigns, and reinforcing Tourism Western Australia’s ‘Walking on a Dream’ brand across global markets. These efforts positioned Perth and Western Australia as vibrant, worldclass destinations for business events and supported the success of bidding activities.

Underpinning these outward-facing efforts, corporate services ensured robust governance, sound financial management, and effective operational support, enabling the organisation to deliver on its strategic objectives. This whole of organisation approach reflects Business Events Perth’s commitment to collaboration, innovation, and sustainable growth, in alignment with WAVES 2033.

8

2.0 ORGANISATION PERFORMANCE

PERTH CONVENTI ON AND EXHI BI TI O N CEN TR E 9

2.0 ORGANISATION PERFORMANCE

2 . 2 K EY P E R FO R M A N C E I N D I C ATO R S The Company’s performance as defined by its service contract to Tourism Western Australia (2023 - 2026), and as adopted by the Board for the same purpose, had a primary distinct measure: Direct Delegate Expenditure (DDE) DDE is a universal key performance indicator (KPI) specific to convention bureau nationally and internationally. This economic KPI is based on the calculation of the average on-ground spend of conference delegate whilst in the State of Western Australia. This value includes accommodation, delegate fees and all on-ground costs.

Over the 2024 - 25 financial year, Business Events Perth has secured a total of $360.8 million in Direct Delegate Expenditure against a target of $347.6M. The team extends our gratitude to the Western Australian Government through Tourism Western Australia for their ongoing support and significant contributions.

Securing over 350 events, Business Events Perth successfully managed to attract a total of 93,395 delegates, against a targeted 93,750. This generated a total of 293,315 room nights booked.

K P I TA R GETS

2 02 4-2 02 5

2 02 4-2 02 5

TARG E T

AC TUAL

1.

Direct Delegate Expenditure (DDE) secured

$347,600,000

$360,800,000

1a.

Association (DDE)

$278,100,000

$276,400,000

1 b.

Corporate and Incentive (C&I) (DDE)

$69,500,000

$84,400,000

2.

Diversify WA Percentage (secured)

70%

74%

3.

Number of Delegates (secured)

93,750

96,395

4.

Industry Financial Contribution (IFC)

$1,700,000

$2 ,458,341

10

2.0 ORGANISATION PERFORMANCE

2 . 3 M EM BE R P A R T N E R S Business Events Perth represents the State’s business events industry through an extensive network of partners offering venues, experiences, and event-related services.

In 2024–25, the organisation collaborated with 155 financial Member Partners, including conference and accommodation venues, professional conference organisers, audiovisual providers, transport operators, photographers, unique venues, bespoke activity providers, and specialised event suppliers across both metropolitan Perth and regional Western Australia.

In addition to these direct partnerships, Business Events Perth supports the wider business events industry through the supply chain impacts created by secured events hosted throughout the State. These events generate demand across diverse sectors such as hospitality, catering, retail, logistics, creative industries, and regional tourism operators.

As a result, the economic and social benefits of business events are dispersed broadly, reaching communities across Western Australia.

11

EDUCATIONAL, NETWORKING, INDUSTRY UPDATES

AND

In addition to delivering bid proposals, site inspections, familiarisation programs, and generating business leads, Business Events Perth reinforced its commitment to Member Partners through a comprehensive program of education and networking events held throughout 2024–25. These initiatives underscored the organisation’s leadership within the business events sector and provided members with valuable opportunities to strengthen connections, exchange knowledge, and engage directly with key decision-makers.

The team delivered a series of educational events that advanced industry knowledge and provided participants with the opportunity to engage directly with the Business Events Perth team in open and informative forums. These sessions deepened attendees understanding of the strategies being implemented to secure events for the State, whilst also offering valuable insight into the organisation’s operations and long-term direction. They further encouraged collaboration and stronger connections across the sector. In

addition, the Business Events 2024 Industry Leaders Forum convened senior decisionmakers from the State’s leading business events organisations to exchange insights on emerging opportunities and to discuss strategic priorities shaping the future of Western Australia’s business events sector.

Through these initiatives, Business Events Perth continues to build a more connected, informed, and resilient industry.

2.0 ORGANISATION PERFORMANCE

I NDUSTRY LEADERS FORU M 12

2.0 ORGANISATION PERFORMANCE

2. 4 HIG H L I GH T S 2 0 2 4 - 2 5 : B U S I N E S S E V E N TS I N W A BUSINESS EVENTS PERTH’S KEY ACHIEVEMENTS IN FY 2024-25 As we reflect on the FY 2024-25 financial year, Business Events Perth showcased remarkable resilience and innovation while navigating a competitive global landscape and awareness of potential redevelopment of Western Australia’s major convention facility, Perth Convention and Exhibition Centre, which is in current project definition phase planning. Our strategic initiatives and partnerships solidified our leadership position in Western Australia’s business events sector.

The following is a recap of our key highlights for 2024 - 25 financial year.

BID WIN HIGHLIGHTS The key performance target for 2024–25 aimed to attract national and international business events, generating $360.8 million in confirmed Direct Delegate Expenditure (DDE) for Western Australia. These business events include: • •

13

The World Congress of the International Association of Applied Linguistics 2030 IEEE Intelligent Vehicles International

•

• • • • •

Symposium 2027 The Thoracic Society of Australia and New Zealand and The Australian and New Zealand Society of Respiratory Science TSANZSRS Annual Scientific Meeting 2026 Square Kilometre Array (SKA) Observatory Software Conference 2026 Australian Indigenous Doctors’ Association (AIDA) Conference 2026 APAC Low Carbon Fuels and CCUS Summit 2025 62nd Annual Joint Australia-Japan Business Conference 2025 AIA Singapore Leadership and Elite Convention 2025

KEY SECTOR EVENTS DELIVERED In 2024–25, Business Events Perth supported the successful delivery of several major international conferences that significantly contributed to Western Australia’s visitor economy. As well as tourism industry focussed conferences aligned with Tourism Western Australia including: • • •

2025 Australian Cruise Association Conference and AGM 2025 ATEC Meeting Place 2026 Australian Tourism Awards & Talking

•

Tourism Business Forum 2026 Australian Regional Tourism (ART) Convention

DESTINATION SITE INSPECTIONS & FAMILS In 2024–25, Business Events Perth organised more than 70 familiarisation programs and site inspections, hosting over 210 clients and showcasing Western Australia’s diverse products and experiences. These initiatives are critical for building face-to-face connections and with key decision-makers and event managers, strengthening long-term relationships, positioning Western Australia as a compelling destination for future business events. Through this activity, Business Events Perth generated 461 qualified business leads, reinforcing its pivotal role in driving growth across the State’s visitor economy.

In November 2024, Business Events Perth partnered with Totem Connections to host a familiarisation program highlighting the extraordinary South West region. Delegates flew directly into Busselton and experienced iconic natural attractions, world-class vineyards, and boutique breweries.

2.0 ORGANISATION PERFORMANCE

Another major initiative was the BE-reWArded Program, which welcomed 25 agents from key Eastern markets including China, Singapore, and Malaysia. Delegates experienced Perth’s vibrant urban culture, enjoyed premium seafood, and visited Rottnest Island to encounter the iconic quokkas. The program generated strong business leads and valuable networking opportunities, with an estimated $13.2 million in direct delegate expenditure.

In March 2025, the re-aWAken Mega Familiarisation welcomed 36 qualified association and corporate clients. Designed to showcase Western Australia’s venues and experiences to high-value decision-makers, the program generated a potential business value exceeding $50 million in direct delegate expenditure.

TRADESHOW ACTIVITIES From 21–26 July 2024, Business Events Perth joined Tourism Western Australia and 26 operators on a roadshow across Kuala Lumpur, Ipoh, Penang, and Singapore. The program featured B2B meetings, gala dinners, and networking sessions.

R O UTES A S I A 2 0 2 5 14

2.0 ORGANISATION PERFORMANCE

In February 2025, Business Events Perth participated in the Asia Pacific Incentives and Meetings Event (AIME), the leading trade show for the business events industry across the AsiaPacific region. Western Australia’s presence was met with overwhelmingly positive feedback from exhibitors, reflecting the State’s growing profile in international markets. During the tradeshow, Business Events Perth generated 24 qualified leads with a potential value exceeding $50 million in direct delegate expenditure.

More broadly, Western Australian industry representatives conducted more than 800 onstand meetings, demonstrating the State’s strong collective presence at this influential global platform.

Business Events Perth also exhibited alongside industry members at the Professional Conference Organisers Association (PCOA) National Conference in Brisbane. The conference, which attracted over 450 delegates and featured a sold-out exhibition of 53 exhibitors, provided a valuable opportunity to engage with key business events audiences and promote Western Australia as a premier destination. From this participation, Business Events Perth secured 11 leads, representing an estimated $11.1 million in potential direct delegate expenditure.

To further expand its global reach, Business Events Perth delivered two international roadshows in London and Paris, in partnership with Qantas and partly funded by Business 15

Events Australia. These initiatives enabled direct engagement with 45 leading European organisers, enhancing Perth’s visibility in a priority market and creating pathways for future commercial opportunities.

ASPIRE AWARDS Business Events Perth partnered with Western Australia’s leading research institutions, tertiary organisations, and local government agencies to provide 11 travel awards grants, supporting Western Australians to attend international conferences in their respective fields of study and work. The program attracted more than 100 applications, with 10 outstanding recipients ultimately selected.

Among the 2024 awardees were Dr Chong Wei of Curtin University, recognised for research in marine sciences and technologies; Dr Matthew Bagg of the Perron Institute for Neurological and Translational Science, whose work is advancing care for people with complex neurological conditions; and Dr Biji Kurup of Murdoch University, who is developing sustainable solutions in industrial ecology and waste management. Each of these researchers is contributing significantly to the welfare and future prosperity of Western Australia, reinforcing the vital link between academic excellence, industry advancement, and the State’s long-term global competitiveness.

GLOBAL RECOGNITION Perth achieved a significant milestone in the International Congress and Convention Association (ICCA) global rankings in 2024, rising 123 positions to secure 105th place worldwide and 21st in the Asia-Pacific region.

This accomplishment highlights Perth’s growing reputation as a premium business events destination, strengthened by cross-industry collaboration and a culture of innovation and entrepreneurship.

Further reinforcing this global standing, the Western Australian business events industry was honoured with the TTG Travel Award for Best Convention Bureau (Local) in 2024. This prestigious accolade, awarded through one of the industry’s most respected platforms, recognised the organisation’s leadership in delivering world-class outcomes for Western Australia and its consistent success in positioning Perth as a destination of choice for international conventions and meetings.

Together, these achievements demonstrate Western Australia’s rising influence on the global business events stage.

2.0 ORGANISATION PERFORMANCE

ASPI RE FUNCTI ON 20 24 16

3 . 0 DI SC L OSU R E AN D LE GAL C OMPLI ANCE

PURNULULU NATI ONAL PAR K 17

D IREC TOR S ' R E PO R T F OR T HE Y EA R ENDED 3 0 J U N E 2 0 2 5 Your Directors present their report on Business Events Perth for the financial year ended 30 June 2025.

1. GENERAL INFORMATION (A)

DIRECTORS

The names of the directors in office at any time during, or since the end of, the year are: Names • • • • •

Appointed/Term concluded

Renee BENNETT Brian MCHENRY Nadia OWEN Kirsty MAINSTONE Dario ORSINI

Re-elected 23 November 2023 Term concluded 19 November 2024 Elected 23 November 2023 Elected 19 November 2024 Elected 19 November 2024

Directors have been in office since the start of the financial year to the date of this report unless otherwise stated.

The names of each Consultive Director throughout the year and at the date of this report are: • • • • • • •

Michael SCOT T Bradley WOODS Jacki D’ANTONIO Nigel KEEN Peter BRAMPTON Andrew CAIRNS Kendra NAIDOO

Re-appointed 26 June 2025 Re-appointed 26 June 2025 Appointed 19 November 2024 Resigned 30 September 2024 Re-appointed 26 June 2025

18

(B)

PRINCIPAL ACTIVITIES

The principal activities of Business Events Perth during the financial year were to: • • •

market the State of Western Australia and Perth as a preferred convention, exhibition and incentive travel destination; assist organisers in the winning and promotion of their business events in Western Australia; and make recommendations to Tourism Western Australia for the implementation of marketing and sales projects and activities.

Business Events Perth continued its core marketing and business development activities including attendance at tradeshows, industry conferences, bid presentations and hosting of site inspections and familiarisations for qualified clients.

(C)

SHORT AND LONG TERM OBJECTIVES AND STRATEGIES

The Company's short term objectives are to: • • •

market and promote the State of Western Australia as a preferred business events destination in Australia and worldwide; secure national and international business events to be held in Western Australia; generate social and economic benefits for the people of the State of Western Australia through securing the business events to be held in the State;

To achieve these objectives, the Company has: • • • •

19

attracted and retained quality staff committed to Business Events Perth’s short and long term objectives; ensured staff work closely in partnership with members, stakeholders and the business events industry to support the Company’s projects and initiatives; and staff who strive to meet consistent standards of best practice and who provide clear expectations of professional standards and responsibilities to all members and stakeholders.

(D)

KEY PERFORMANCE MEASURES

The Company’s performance as defined by its service contract to Tourism Western Australia (2023 - 2026), and as adopted by the Board for the same purpose, had one distinct measure: • Direct Delegate Expenditure (DDE) DDE is a universal key performance indicator (KPI) specific to convention bureau nationally and internationally. It is an economic KPI based on a calculation of the average on-ground spend of conference delegates whilst in the State of Western Australia. This value includes accommodation, delegate registration and all on-ground costs such as local transport, entertainment, tours and business services.

Business Events Perth achieved an independently audited $360.8 million in DDE against a target of $347.6 million for the 2024-25 financial year. This includes over 350 national and international business events set to occur in Western Australia from 2024 out to 2030, representing 96,395 delegates and 293,315 hotel room nights. In addition, at the end of the 2024-25 financial year, Business Events Perth had over 90 bids pending a destination decision for a future business event in WA. With a positive growth in bids and bid development activity, increased pending bids also reflects a challenging market environment with significant domestic and international competition; as well as extension of destination decision making timeframes, due in part to the potential re-development of the Perth Convention and Exhibition Centre (PCEC). In October 2024, the Western Australia State Government announced that it had entered Project Definition Phase planning for the redevelopment of PCEC, which continued through to the end of the FY 2024-25.

Industry Financial Contribution (IFC) was a Financial Reporting Item for Business Events Perth in 2024-25 with a target set for $1,700,000. Business Events Perth achieved $2,458,341 in Industry Financial Contribution for the year due to record industry investment in collaborative destination promotion activities.

The performance against these key performance indicators is listed as follows:

K P I TA R GETS

2 02 4-2 5

2 02 4-2 5

TARG E T

AC TUAL

1.

Direct Delegate Expenditure (DDE) secured

$347,600,000

$360,800,000

1a.

Association DDE

$278,100,000

$276,400,000

1b.

Corporate and Incentive (C&I)

$69,500,000

$84,400,000

2.

Diversify WA Percentage (secured)

70%

74%

3.

Number of Delegates (secured)

93,750

96,395

4.

Industry Financial Contribution (IFC)

$1,700,000

$2,458,341 20

(E)

INFORMATION ON DIRECTORS

The names, qualifications, experience and special responsibilities of each person who has been a director during the year and to the date of this report are: Renee BENNET T

Business Events Perth Director (Re-elected 23 November 2023) Director, Encanta Event Management PCO Association, Councillor - Western Australia

Brian MCHENRY

Business Events Perth Director (Term concluded 19 November 2024) General Manager, Mercure Perth Hotel

Nadia OWEN Business Events Perth Director (Elected 23 November 2023)

Head of Meetings and Special Events, Optus Stadium Director, Tennis West Michael SCOT T

Business Events Perth Consultative Director (Re-appointed 26 June 2025) Chair, Business Events Perth Finance, Audit, Risk and Membership Committee General Manager, RAC Arena Director, Australian Hotels Association (WA) Director, Hospitality Group Training (WA)

Bradley WOODS Business Events Perth Chair, Consultative Director (Re-appointed 26 June 2025)

Member, Business Events Perth Finance, Audit, Risk and Membership Committee

CEO, Australian Hotels Association WA

Chair, Australia Day Council WA

Chair, Hospitality Group Training

Chair, Edith Cowan University - Tourism and Hospitality Management Consultative Committee

Co-Founder and Board Member, Healthy Mind Menu Inc.

21

Jacki D’ANTONIO

Business Events Perth Consultative Director (Appointed 19 November 2024) Area Manager Western Australia, Singapore Airlines

Nigel KEEN Business Events Perth Consultative Director (Resigned 30 September 2024)

Member, Business Events Perth Finance, Audit, Risk and Membership

Committee (Resigned 30 September 2024)

General Manager, Perth Convention Exhibition Centre (Term concluded 30 September 2024)

Director, Australian Business Events Association (ABEA) (Term concluded 19 November 2024) Director, Keen2connect Peter BRAMPTON

Business Events Perth Consultative Director (Re-appointed 26 June 2025) General Manager, The Westin Perth Chairman, Marriott International ANZP Business Council

Andrew CAIRNS

Business Events Perth Consultative Director Accommodation Division President - AHA WA Board Director - Accommodation Australia Executive General Manager, Crown Perth Hotels and Food & Beverage

Kirsty MAINSTONE Business Events Perth Director (Elected 19 November 2024)

Event Director, Lux Events Dario ORSINI Business Events Perth Director (Elected 19 November 2024)

General Manager, The Ritz-Carlton Perth Director, Destination Perth Kendra NAIDOO

Business Events Perth Consultative Director Member, Business Events Perth Finance, Audit, Risk and Membership Committee Board Member, Women in Tourism and Hospitality

22

(F)

MEMBERS GUARANTEE

Business Events Perth is a Company limited by guarantee. If the Company is wound up, the constitution states that each member is required to contribute a maximum of $20 each towards meeting any outstanding obligations of the Company. At 30 June 2025, the total amount that members of the Company are liable to contribute if the Company is wound up is $3,100 (2024: $2,760).

2.

COMPANY SECRETARY

The following person held the position of company secretary at the end of the financial year: Patricia Elizabeth McKay has been the company secretary since 23 May 2019.

3.

MEETINGS OF DIRECTORS

During the financial year, 14 meetings of Directors (including Committees of Directors) were held. Attendances by each Director during the year were as follows:

B OA R D O F D IR EC TO R S ’ M EET ING S NU M B ER EL IG IB L E TO AT T END

NU M B ER AT T END ED

FI NA NCE, A UD I T, R I SK A ND M EM B ER SHI P COM M I T T EE M EET I NGS NUM B ER EL I GI B L E TO AT T END

NUM B ER AT T END ED

Bradley WOODS

8

8

6

6

Nigel KEEN

2

1

2

2

Renee BENNETT

8

8

-

-

Peter BRAMPTON

8

3

-

-

Andrew CAIRNS

8

6

-

-

Brian MCHENRY

2

2

-

-

Michael SCOTT

8

8

6

6

Nadia OWEN

8

7

-

-

23

B OA R D O F D IR EC TO R S ’ M EET ING S NU M B ER EL IG IB L E TO AT T END

NU M B ER AT T END ED

FI NA NCE, A UD I T, R I SK A ND M EM B ER SHI P COM M I T T EE M EET I NGS NUM B ER EL I GI B L E TO AT T END

NUM B ER AT T END ED

Kendra NA ID O O

6

6

4

3

Ki rsty MA IN S TO NE

6

5

-

-

Dario ORSINI

6

6

-

-

Jacki D’ANTONIO

6

6

-

-

The Board also has an Appointments and Remuneration Committee which meets on an ‘as needs’ basis.

4.

AUDITOR’S INDEPENDENCE DECLARATION

The lead auditor’s independence declaration in accordance with section 307C of the Corporations Act 2001, for the year ended 30 June 2025 has been received and can be found on page 25 of the financial report.

Signed in accordance with a resolution of the Board of Directors: Director:

Bradley WOODS Dated this 18th day of September 2025 24

W T T C 2024 25

21

ST AT EMENT O F PR O F IT O R L OSS A N D OT HE R COMP R E HE N S I VE I NCO ME F OR T HE Y EA R ENDED 3 0 J U N E 2 0 2 5

Note

2025 $

2024 $

Revenue

5

12,579,264

11,977,931

Finance income

6

938,958

591,721

(3,843,329)

(3,584,433)

(239,307)

(239,327)

(490,589)

(472,932)

(7,225,598)

(6,724,167)

(1,000,707)

(1,014,958)

(620,957)

(437,974)

(47,598)

(55,203)

50,137

40,658

-

-

50,137

40,658

-

-

50,137

40,658

RECURRENT

Employee benefits expense Depreciation and amortisation expense

7

Administration expenses Business development expenses

7

Marketing expenses Other expenses Finance expenses

6

Recurrent operating profit Income tax expense

3(b)

Profit for the year Other comprehensive income for the year, net of tax Total comprehensive income for the year

T h e a c c o m p a n y i n g n o te s f o r m p a r t o f th e s e f i n a n c i a l s ta t em ent s.

26

ST AT EMENT O F F INA NC IA L P OS I T I ON AS AT 3 0 J U NE 20 25 Note

2025 $

2024 $

Cash and cash equivalents

8

23,461,369

22,869,405

Trade and other receivables

9

517,759

580,565

Other assets

10

294,736

488,239

24,273,864

23,938,209

ASSETS CURRENT ASSETS

TOTAL CURRENT ASSETS NON-CURRENT ASSETS Property, plant and equipment

11

244,354

311,920

Right-of-use asset

12

617,394

778,446

861,748

1,090,366

25,135,612

25,028,575

TOTAL NON-CURRENT ASSETS TOTAL ASSETS LIABILITIES CURRENT LIABILITIES Trade and other payables

13

7,389,079

9,204,992

Contract liabilities

14

6,584,389

5,492,791

Lease liabilities

12

151,910

132,623

Employee benefits

15

346,980

374,330

14,472,358

15,204,736

TOTAL CURRENT LIABILITIES

27 T h e a c c o m p a n y i n g n o te s f o r m p a r t o f th e s e f i n a n c i a l s ta t em ent s.

Note

2025 $

2024 $

Trade and other payables

13

8,968,518

7,846,885

Contract liabilities

14

-

195,820

Lease liabilities

12

550,534

702,443

Employee benefits

15

59,923

44,549

TOTAL NON-CURRENT LIABILITIES

9,578,975

8,789,697

TOTAL LIABILITIES

24,051,333

23,994,433

NET ASSETS

1,084,279

1,034,142

Retained earnings

1,084,279

1,034,142

TOTAL EQUITY

1,084,279

1,034,142

NON-CURRENT LIABILITIES

EQUITY

28 T h e a c c o m p a n y i n g n o te s f o r m p a r t o f th e s e f i n a n c i a l s ta t em ent s.

ST AT EMENT O F C H A NG E S I N E QU I T Y F OR T HE Y EA R ENDED 3 0 J U N E 2 0 2 5 2025 RETAINED EARNINGS $

TOTA L $

1,034,142

1,034,142

50,137

50,137

Balance at 30 June 2025

1,084,279

1,084,279

2024

RETAINED EARNINGS $

TOTA L $

Balance at 1 July 2023

993,484

993,484

Profit attributable to members of the entity

40,658

40,658

1,034,142

1,034,142

Balance at 1 July 2024 Profit attributable to members of the entity

Balance at 30 June 2024

29 T h e a c c o m p a n y i n g n o te s f o r m p a r t o f th e s e f i n a n c i a l s ta t em ent s.

ST AT EMENT O F C A S H F L OW S F OR T HE Y EA R ENDED 3 0 J U N E 2 0 2 5

2025

2024

$

$

2,173,019

1,496,487

11,576,620

11,997,393

(13,748,407)

(11,143,916)

Interest received

934,279

468,684

Interest expense on lease liabilities

(47,598)

(55,203)

Short-term, low-value and variable lease payments

(152,638)

(130,020)

735,275

2,633,425

Purchase of property, plant and equipment

(10,689)

(21,540)

Net cash used in investing activities

(10,689)

(21,540)

Repayments of lease liabilities

(132,622)

(113,085)

Net cash used in financing activities

(132,622)

(113,085)

Net increase in cash and cash equivalents held

591,964

2,498,800

Cash and cash equivalents at beginning of year

22,869,405

20,370,605

23,461,369

22,869,405

Note CASH FLOWS FROM OPERATING ACTIVITIES: Receipts from customers Service fee and funding received Payments to suppliers and employees

Net cash provided by operating activities

22(b)

CASH FLOWS FROM INVESTING ACTIVITIES:

CASH FLOWS FROM FINANCING ACTIVITIES:

Cash and cash equivalents at end of financial year

22(a)

30 T h e a c c o mp a n y i n g n o te s f o r m p a r t o f th e s e f i n a n c i a l s tat em ent s.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 1.

INTRODUCTION

The financial statements cover Business Events Perth (the ‘Company’) as an individual entity. Business Events Perth is a public company limited by guarantee, incorporated and domiciled in Australia.

The principal activities of the Company for the year ended 30 June 2025 were to market the State of Western Australia and Perth as a preferred convention, exhibition and incentive travel destination; assist organisers in the winning and promotion of their business events in Western Australia; and implementation of marketing and sales projects and activities as approved by Tourism Western Australia.

The financial statement amounts are presented in Australian dollars unless stated otherwise. The Company presents amounts rounded to the nearest whole dollar in accordance with ASIC Corporations (Rounding in Financials/Directors’ Reports) Instrument 2016/191 and Amendment Instrument 2022/519.

The functional and presentation currency of the Company is Australian dollars.

2.

BASIS OF PREPARATION

The financial statements are general purpose financial statements that have been prepared in accordance with Australian Accounting Standards Simplified Disclosures, Interpretations of the Australian Accounting Standards Board, and the Corporations Act 2001. The Company is a not-for- profit entity for financial reporting purposes under Australian Accounting Standards.

The financial statements comply with Australian Accounting Standards - Simplified Disclosures. They comply with the recognition and measurement requirements of Australian Accounting Standards, their presentation requirements as modified by AASB 1060 General Purpose Financial Statements Simplified Disclosures for For-Profit and Not-For-Profit Tier 2 Entities, and the disclosure requirements of AASB 1060.

The financial statements, except for the cash flow information, have been prepared on an accruals basis and are based on historical costs modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities.

Material accounting policy information relating to the preparation of these financial statements are presented below and are consistent with prior reporting periods unless otherwise stated.

31

Accounting policy information which does not satisfy one of the following requirements has been removed from these financial statements: • Changes in accounting policy • Documentation of choice in the accounting standards • An accounting policy developed in the absence of an explicit accounting standard requirement Significant judgement or estimation • Complex transaction and accounting policy need to explain treatment.

The amounts presented in the financial statements have been rounded to the nearest dollar 3.

MATERIAL ACCOUNTING POLICY INFORMATION

(A)

REVENUE AND OTHER INCOME

The Company applies AASB 15 Revenue from Contracts with Customers (“AASB 15”) and AASB 1058 Income of Not-for-Profit Entities (“AASB 1058”).

Revenue from contracts with customers The core principle of AASB 15 is that revenue is recognised on a basis that reflects the transfer of promised goods or services to customers at an amount that reflects the consideration the Company expects to receive in exchange for those goods or services. Revenue is recognised by applying a five- step model as follows: 1.

2.

3.

4.

5.

Identify the contract with the customer Identify the performance obligations Determine the transaction price Allocate the transaction price to the performance obligations Recognise revenue as and when control of the performance obligations is transferred.

Generally the timing of the payment for sale of goods and rendering of services corresponds closely to the timing of satisfaction of the performance obligations, however where there is a difference, it will result in the recognition of a receivable, contract asset or contract liability.

None of the revenue streams of the Company have any significant financing terms as there is less than 12 months between receipt of funds and 32

satisfaction of performance obligations.

Rendering of services Revenue in relation to rendering of services is recognised at a point in time when the given performance obligation is met, that is, when clients receive and consume the benefits of the services as the Company provides them, the revenue recognition model is based on the time elapsed output method.

A receivable in relation to these services is recognised when a bill has been issued, as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due.

Operating grants When the Company receives operating grant revenue from government, it assesses whether the contract is enforceable and has sufficiently specific performance obligations in accordance to AASB 15.

When both these conditions are satisfied, the Company: • • •

identities each performance obligation relating to the grant; recognises a contract liability for its obligations under the agreement; and recognises revenue as it satisfies its performance obligations.

Where the contract is not enforceable or does not have sufficiently specific performance obligations, the Company: • • •

recognises the asset received in accordance with the recognition requirements of other applicable accounting standards (for example AASB 9, AASB 16, AASB 116 and AASB 138); recognises related amounts (being contributions by owners, lease liability, financial instruments, provisions, revenue or contract liability arising from a contract with a customer); and recognises income immediately in profit or loss as the difference between the initial carrying amount of the asset and the related amount.

If a contract liability is recognised as a related amount above, the Company recognises income in profit or loss when or as it satisfies its obligations under the contract.

33

Sponsorship revenue Direct sponsorship revenue represents cash acquired in exchange for value awarded to a sponsor (e.g. name recognition, naming rights etc).

Management has assumed that value provided in exchange for cash is awarded over the term of the contract. Therefore, revenue recognition of cash sponsorship is spread evenly over the term of the contract to match the value provided as this is when the performance obligation is met.

Subscriptions Revenue from the provision of membership subscriptions is recognised over the membership period this is when the performance obligation is met.

Interest revenue Interest revenue is recognised using the effective interest method.

(B)

INCOME TAX

The Company is exempt from income tax under Division 50-40 of the Income Tax Assessment Act 1997. Accordingly, no income tax expense is recognised in the financial statements.

(C)

PROPERTY, PLANT AND EQUIPMENT

Each class of property, plant and equipment is carried at cost or fair value less, where applicable, any accumulated depreciation and impairment.

Plant and equipment Plant and equipment are measured using the cost model.

Property, plant and equipment, is depreciated on a reducing balance or straight line basis over the assets useful life to the Company, commencing when the asset is ready for use.

34

Leased assets and leasehold improvements are amortised over the shorter of either the unexpired period of the lease or their estimated useful life.

The depreciation rates used for each class of depreciable asset are shown below: Fixed asset class Plant and Equipment Leasehold improvements

Depreciation rate 5 - 40% remainder of lease

At the end of each annual reporting period, the depreciation method, useful life and residual value of each asset is reviewed. Any revisions are accounted for prospectively as a change in estimate.

(D)

FINANCIAL INSTRUMENTS

Financial assets All recognised financial assets are subsequently measured in their entirety at either amortised cost or fair value, depending on the classification of the financial assets.

Classification On initial recognition, the Company classifies its financial assets into the following categories, those measured at: • • • •

amortised cost fair value through profit or loss - FVTPL fair value through other comprehensive income - equity instrument (FVOCI - equity) fair value through other comprehensive income - debt investments (FVOCI - debt)

Amortised cost The Company’s financial assets measured at amortised cost comprise trade and other receivables and cash and cash equivalents in the statement of financial position.

35

Financial liabilities The financial liabilities of the Company comprise trade payables, bank and other loans and finance lease liabilities.

(E)

LEASES

(i)

Right-of-use asset

Right-of-use assets are recognised at the commencement date of the lease (i.e. the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and any impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease terms and the estimated useful lives of the assets as follows: Building

6 years

If ownership of the leased asset transfers to the Company by the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. (ii)

Adoption of short term leases or low value asset exception

The Company has elected to apply the recognition exemption for leases of low-value assets to lease of photocopier that is considered to be low value.

Lease payments on short-term leases and leases of low-value assets are recognised as an expense on a straight-line basis over the lease term.

(F)

PROVISIONS

Provisions are recognised when the Company has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and the outflow can be reliably measured.

(G)

ECONOMIC DEPENDENCE

Business Events Perth is dependent on Tourism Western Australia for the majority of its revenue used to operate the business. At the date of this report the directors have no reason to believe that Tourism Western Australia will not continue to support Business Events Perth.

36

(H)

COMPARATIVE FIGURES

When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current financial year.

(I)

ADOPTION OF NEW, REVISED ACCOUNTING STANDARDS

The Company has adopted all standards which became effective for the first time at 30 June 2025, the adoption of these standards has not caused any material adjustments to the reported financial position, performance or cash flow of the Company.

4.

CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS

The directors make estimates and judgments during the preparation of these financial statements regarding assumptions about current and future events affecting transactions and balances.

These estimates and judgements are based on the best information available at the time of preparing the financial statements, however as additional information is known then the actual results may differ from the estimates.

The significant estimates and judgements made have been described below.

Key estimates - In-kind support The Company received assistance from some of its members during the year in the form of airfares, accommodation, meals and functions. In these instances, the Company has to assess a best estimate for the value of this in-kind support using values given by the members who provided the in-kind support.

Key judgments - Convention funding The Company has an obligation to promote Perth as a business event destination and identify new event opportunities and bring them to Western Australia under the contract with Tourism Western Australia. The valuation of convention funding for each conference or event requires judgement in assessing the value that the conference or event will bring to the State, based on the calculated direct delegate expenditure (DDE) of that conference or event, e.g. event type, number of days for the event, number of attendees (including State, national and international) and direct competition for the conference or event.

37

Key judgments - performance obligations under AASB 15 To identify a performance obligation under AASB 15, the promise must be sufficiently specific to be able to determine when the obligation is satisfied.

Management exercises judgement to determine whether the promise is sufficiently specific by taking into account any conditions specified in the arrangement, explicit or implicit, regarding the promised goods or services. In making this assessment, management includes the nature/ type, cost/ value, quantity and the period of transfer related to the goods or services promised.

Key judgments - lease term and option to extend under AASB 16 The lease term is defined as the non-cancellable period of a lease together with both periods covered by an option to extend the lease if the lessee is reasonably certain to exercise that option; and also periods covered by an option to terminate the lease if the lessee is reasonably certain not to exercise that option. The options that are reasonably going to be exercised is a key management judgement that the Company will make. The Company determines the likeliness to exercise the options on a lease-by-lease basis looking at various factors such as which assets are strategic and which are key to the future strategy of the Company.

Key judgments - employee benefits For the purpose of measurement, AASB119: Employee Benefits defines obligations for short-term employee benefits as obligations expected to be settled wholly before 12 months after the end of the annual reporting period in which the employees render the related services. As the Company expects that most employees will not use all of their annual leave entitlements in the same year in which they are earned or during the 12-month period that follows despite an informal company policy that requires annual leave to be used within 18 months, the Company believes that obligations for annual leave entitlements satisfy the definition of other long-term employee benefits and, therefore, are required to be measured at the present value of the expected future payments to be made to employees.

38

5. REVENUE

2025

2024

$

$

10,500,000

10,500,000

- Sponsorships

225,000

285,000

- EMDG

90,000

-

- Member subscriptions

501,973

473,426

1,243,098

680,718

19,193

38,787

12,579,264

11,977,931

938,958

591,721

938,958

591,721

47,598

55,203

47,598

55,203

Recurrent revenue: - Service fees

- Industry contribution co-operative marketing - Other

6. FINANCE INCOME AND EXPENSES Finance income Interest income - Assets measured at amortised cost Finance expenses Interest expense on lease liability

39

7. RESULT FOR THE YEAR The result for the year includes the following specific expenses: Note

2025

2024

Depreciation - plant and equipment

11

78,255

78,275

Depreciation - right-of-use assets

12

161,052

161,052

239,307

239,327

Bid development

2,514,622

2,736,555

Destination sponsorship

4,537,247

3,630,291

173,729

357,321

7,225,598

6,724,167

138,762

118,200

Cash on hand

5

5

Cash at bank

6,831,166

10,403,442

16,630,198

12,465,958

23,461,369

22,869,405

Depreciation and amortisation

Total depreciation and amortisation Business development expenses

Site inspection Total business development expenses Low-value asset lease expenses and outgoings

12

8. CASH AND CASH EQUIVALENTS

Short-term bank deposits 17

Included in cash and cash equivalents is an amount of $120,000 (2024: $120,000) which was not available for use by the Company. This amount relates to a set off arrangement with the Commonwealth Bank of Australia for credit card facilities provided by the bank.

40

9. TRADE AND OTHER RECEIVABLES 2025 $

2024 $

Trade receivables

79,986

223,745

Bank guarantee

356,820

356,820

Current GST/BAS receivable

80,953

-

517,759

580,565

Prepayments

41,110

239,292

Accrued income

253,626

248,947

294,736

488,239

Note CURRENT

17 10. OTHER ASSETS CURRENT

41

11. PROPERTY, PLANT AND EQUIPMENT 2025

2024

$

$

163,210

152,521

Accumulated depreciation

(132,133)

(107,197)

Total plant and equipment

31,077

45,324

Leasehold Improvements At cost Accumulated amortisation

319,915 (106,638)

319,915 (53,319)

Total leasehold improvements

213,277

266,596

Total property, plant and equipment

244,354

311,920

PLANT AND EQUIPMENT Plant and equipment At cost

42

(a)

Movements in Carrying Amounts

Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial year:

PLANT AND EQUIPMENT

LEASEHOLD IMPROVEMENT

TOTAL

$

$

$

Balance at the beginning of year

45,324

266,596

311,920

Additions

10,689

-

10,689

(24,936)

(53,319)

(78,255)

31,077

213,277

244,354

Year ended 30 June 2025

Depreciation expense Balance at the end of the year

43

12. RIGHT-OF-USE ASSETS AND LEASE LIABILITIES The Company has a lease contract for an office used in its operations. The lease has a term of 6 years. (a) Right-of-use assets 2025

2024

$

$

966,341

966,341

Accumulated depreciation

(348,947)

(187,895)

Total right-of-use assets

617,394

778,446

BUILDINGS

TOTA L

$

$

778,446

778,446

(161,052)

(161,052)

617,394

617,394

NON-CURRENT Buildings At cost

(b) Movement in carrying amount

Year ended 30 June 2025 Balance at beginning of year Depreciation charge Balance at end of year

44

(c)

Lease liabilities

The maturity analysis of lease liabilities based on contractual undiscounted cash flows is shown in the table below:

< 1 year

1 - 5 years

> 5 years

Total undiscounted lease liabilities

Lease liabilities included in this Statement Of Financial Position

$

$

$

$

$

190,814

600,624

-

791,438

702,444

18 0,220

791,438

-

971,658

835,066

2025 $

2024 $

151,910

132,623

151,910

132,623

550,534

702,443

550,534

702,443

2025 Lease liabilities 2024 Lease liabilities

CURRENT Lease liabilities

NON-CURRENT Lease liabilities

45

(d) Statement of Profit or Loss and Other Comprehensive Income The amounts recognised in the statement of profit or loss and other comprehensive income relating to leases where the Company is a lessee are shown below:

2025

2024

$

$

Interest expense on lease liability

47,598

55,203

Variable lease payments not included in the measurement of lease liabilities

137,288

116,745

1,474

1,455

161,052

161,052

347,412

334,455

Expenses relating to short-term or low value leases Depreciation - right-of-use assets

46

13. TRADE AND OTHER PAYABLES Note

2025 $

2024 $

17

1,370,578

1,256,639

-

230,242

189,909

139,929

5,828,592

7,578,182

7,389,079

9,204,992

8,968,518

7,846,885

8,968,518

7,846,885

Tourism Western Australia service fees

341,554

518,650

Tourism Australia projects fees

272,000

405,784

Strategic Business Events Fund

1,408,705

1,735,150

Convention Bid Funding allocation

4,562,130

2,833,207

6,584,389

5,492,791

-

195,820

-

195,820

CURRENT Trade payables Current GST/BAS liabilities Income in advance Convention funding allocation

17

NON-CURRENT Convention funding allocation

17

14. CONTRACT LIABILITIES CURRENT

NON-CURRENT Strategic Business Events Fund

Tourism Western Australia service fees and Tourism Australia project fees are enforceable and has sufficiently specific performance obligations in accordance with AASB 15. The amount received at that point in time, is recognised as a contract liability until the performance obligations have been satisfied.

47

15. EMPLOYEE BENEFITS 2025 $

2024 $

Annual leave provision

230,968

205,464

Long service leave provision

116,012

168,866

346,980

374,330

59,923

44,549

59,923

44,549

CURRENT

NON-CURRENT Long service leave provision

Provision for employee benefits represents amounts accrued for annual leave and long service leave.

The current portion for this provision includes the total amount accrued for annual leave entitlements and the amounts accrued for long service leave entitlements that have vested due to employees having completed the required period of service. Based on past experience, the Company does not expect the full amount of annual leave or long service leave balances classified as current liabilities to be settled within the next 12 months. However, these amounts must be classified as current liabilities since the Company does not have an unconditional right to defer the settlement of these amounts in the event employees wish to use their leave entitlement.

The non-current portion of this provision includes amounts accrued for long service leave entitlements that have not yet vested in relation to those employees who have not yet completed the required period of service.

In calculating the present value of future cash flows in respect of long service leave, the probability of long service leave taken is based on historical data.

48

16.

CAPITAL AND CONTRACTUAL COMMITMENTS

CONTRACTUAL COMMITMENTS 2025 $

2024 $

- no later than one year

1,474

1,473

- between one year and five years

2,702

4,176

4,176

5,649

Non-cancellable commitments contracted for but not capitalised in the financial statements Payable - minimum lease payments:

The non-cancellable contractual commitments relate to the lease of a photocopier with rent payable monthly for 60 months commencing on 4 May 2023.

49

17.

FINANCIAL RISK MANAGEMENT

The Company is exposed to a variety of financial risks through its use of financial instruments.

Financial instruments used The principal categories of financial instrument used by the Company are trade receivables, cash at bank and trade and other payables:

Note

2025 $

2024 $

Financial Assets Cash and cash equivalents

8

23,461,369

22,869,405

Trade and other receivables

9

436,806

580,565

23,898,175

23,449,970

Total financial assets Financial Liabilities Financial liabilities at amortised cost - Trade and other payables

13

16,167,688

16,681,706

- Lease liabilities

12

702,444

835,066

16,870,132

17,516,772

Total financial liabilities

50

18.

MEMBERS’ GUARANTEE

The Company is incorporated under the Corporations Act 2001 and is a Company limited by guarantee. If the Company is wound up, the constitution states that each member is required to contribute a maximum of $20 each towards meeting any outstandings and obligations of the Company. At 30 June 2025 the number of members was 155 (2024:138).

19.

INTERESTS OF KEY MANAGEMENT PERSONNEL

Persons who acted as chairperson during the year received the amount of $52,500 (2024: $45,000) including occupational superannuation of 11.5% where applicable for acting in the position of Chairperson. These amounts have been included in the key management personnel remuneration below: The total remuneration paid to key management personnel of the Company including occupational superannuation is $492,626 (2024: $401,050).

No other Directors received any remuneration for their services.

20.

AUDITORS' REMUNERATION

Remuneration of the auditor Dry Kirkness, for: - auditing or reviewing the financial statements

21.

2025 $

2024 $

26,400

24,200

26,400

24,200

RELATED PARTY TRANSACTIONS

During the year, the Company purchased services from entities associated with some of the Directors. All transactions were made on normal terms and conditions, which would have been adopted if dealing at arm’s length.

51

22.

CASH FLOW INFORMATION

2025 $

2024 $

23,461,369

22,869,405

50,137

40,658

239,307

239,327

- (increase)/decrease in trade and other receivables

143,759

73,007

- (increase)/decrease in other assets

(4,679)

(123,037)

- (increase)/decrease in prepayments

198,182

(207,737)

(260,900)

176,697

- increase/(decrease) in trade and other payables

381,445

2,402,057

- increase/(decrease) in employee benefits

(11,976)

32,453

735,275

2,633,425

a) Reconciliation of cash Cash at the end of the financial year as shown in the statement of cash flows is reconciled to items in the statement of financial position as follows: Cash and cash equivalents (b) Reconciliation of result for the year to cash flows from operating activities Reconciliation of net profit to net cash provided by operating activities: Profit for the year Non-cash flows in profit: - Depreciation expense Changes in assets and liabilities:

- increase/(decrease) in income in advance

Cash flow from operations

52

(c) Credit standby arrangement and loan facilities The Company has no credit standby or loan facilities.

23.

EVENTS AFTER THE END OF THE REPORTING PERIOD

The financial report was authorised for issue on 18 September 2025 by the Board of Directors.

No other matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the Company, the results of those operations, or the state of affairs of the Company in future financial years.

24.

COMPANY DETAILS

The registered office and principal place of business of the Company is: Business Events Perth Level 2, 129 St George’s Terrace Perth WA 6000 25.

ASSISTANCE PROVIDED TO BUSINESS EVENTS PERTH

The Company received assistance from some of its members during the year in the form of airfares, accommodation, meals and functions. The amount has not been recognised as the value cannot be reliably measured. However, the amount is estimated to be approximately $493,270 (2024: $298,612).

26.

SEGMENT REPORTING

The Company promotes Western Australia and the Perth metropolitan area as a convention, exhibition and incentive travel destination. It is involved in this industry in the one geographic location of Western Australia.

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D IREC TOR S ' DEC L A R A TIO N The directors of the Company declare that, in their opinion: a) there are reasonable grounds to believe that the Company is able to pay of its debts as and when they become due and payable; and b) the attached financial statements and notes thereto are in accordance with the Corporations Act 2001, including: (i) giving a true and fair view of the financial position and performance of the Company; and (ii) complying with Australian Accounting Standards - Simplified Disclosures.

Signed in accordance with a resolution of the directors made pursuant to s.295(5) of the Corporations Act 2001.

Director Bradley WOODS

Dated this 18th day of September 2025

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P ER F ECT CH I N A 2 0 2 4 56

4.0 A C K N O W LE D GM E N T S

BU SSELT ON 57

MA J OR ST A K E HOL D E R S Tourism Western Australia City of Perth

MA J OR P A R T N E R S Crown Perth Perth Convention and Exhibition Centre

P L A T I N U M ME MB E R P A RTNE RS Business Events Perth acknowledges our Platinum Member Partners, who represent the key member organisation contributors to our funding in 2024-2025: Adnate Perth – Art Series

Pan Pacific Perth

Aloft Perth

Parmelia Hilton Perth

Captain Cook Cruises

Perth Convention and Exhibition Centre

Crown Perth

Perth Expo

DoubleTree by Hilton Perth Northbridge

Pinnacle Travel Group – WA

DoubleTree by Hilton Perth Waterfront

QT Perth

Duxton Hotel Perth

Rendezvous Hotel Perth Scarborough

Encore Event Technologies

Residence on Langley Park

Esplanade Hotel Fremantle - by Rydges

Ritz-Carlton, Perth

Four Points by Sheraton

Saltwater Busselton

ibis Perth Hotel

Westin Perth

InterContinental Perth City Centre

Arinex

Kingsman

Association Specialists

Lux Events

Conference National

Mercure Perth

Encanta

Novotel Perth Langley

MCI Australia

Novotel Perth Murray Street Optus Stadium 58

ROTTNEST | WADJEMUP 59

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Leve l 2 , 129 St Ge o rge s Te rrac e , Pert h, 6000, We st e rn A u st ral i a. inf o@b ep e rth . c o m b usine ssevent s pe rt h . c o m

M AJOR S TA KEH O L DER S