The annual accounts have been filed at the start of a calendar year where the venue will again stand as one of the key locations for the Commonwealth Games and host touring performances from world-renowned artists including Gorillaz, Richard Ashcroft, Tame Impala, Paul Simon, David Byrne and Olivia Dean.
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The SEC’s conference business delivered a record £11m in turnover for 62% growth year-on-year, while the number of exhibitions hosted rose from 38 to 50 for a 60% increase in turnover to £3.5m. There were 136 performances at the OVO Hydro, up from 116 the year before, leading a 30% rise in live entertainment revenue to £15.6m.
“Most pleasing of all is that as we continue to scale our business, we’re generating fantastic economic value for Scotland and the people that live here,” said Dominic McKay, who took over as chief executive of the SEC in May 2025.
“In 2024/25 we generated £557m in economic value for Glasgow, and with further growth, we will deliver even greater economic benefit to Glasgow and Scotland, making this figure a vital success metric within our strategy.”
Infrastructure investments during 2025 included a range of upgrades at the OVO Hydro that included the permanent installation of an Evolv security screening system outside the arena to improve entry speed and efficiency. The next phase will include the relocation of ticket scanning to the security screening area.
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Eleven retail outlets were refurbished to improve service speed and flow, while accessible seating was enhanced with improved sightlines and charging points. Mr McKay said the upcoming introduction of an in-seat food and beverage service will further reinforce the venue’s commitment to inclusivity and world-class live entertainment.
Earnings in the last financial year rose to £7m against £2.3m previously. Operating profit came in at £4.1m versus a loss of £395,000 in the year before.
The land where the SEC now sits was once Queen’s Dock, a major part of Glasgow’s shipping infrastructure. The SECC opened in 1985 as Scotland’s first major exhibition and conference venue in a bid to regenerate the waterfront area, with the Armadillo auditorium following in 1997.
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Initially conceived as “Scotland’s National Arena”, the £125m Hydro officially opened in September 2013 as a further extension to the complex. It was originally known as the SSE Hydro until a new naming partnership with OVO came into place in 2021.
“The SEC is in great shape,” Mr McKay said. “2025 was a brilliant year for the campus, with a strong financial performance and continued growth across live entertainment, conferences and events.
“Looking ahead, 2026 is shaping up to be our most successful year yet, as we prepare to welcome world-class events including the Commonwealth Games and major artists such as Richard Ashcroft. We’re also ensuring the campus continues to evolve and develop to deliver even greater value and enhance our position as a world-class, innovative international suite of venues.”