Corporate Travel Management FY24 Financial Overview

Corporate Travel Management (ASX:CTD) has shared its financial results for FY24, highlighting notable achievements. The company recorded a 9% increase in revenue and a significant 21% rise in EBITDA, reaching a record $201.7 million. With strong performances in the North America and Australia/New Zealand regions, CTM is optimistic about its future outlook for FY25.

CTM's Strategic Plans and Future Outlook

Corporate Travel Management (ASX:CTD) presented a strong financial performance for FY24, underscored by a 9% revenue increase and 21% growth in EBITDA. The company is keen on leveraging its momentum in North America and ANZ to sustain growth. CTM plans to double its FY24 EPS over the next five years, focusing on revenue growth, automation, and capital management. Leadership changes aim to develop internal talent and drive regional success. For FY25, CTM targets a 10% revenue increase and higher EBITDA margins, addressing challenges like ticket price deflation and capitalizing on transaction-based revenue. The company's strategic initiatives include enhancing technology use, expanding market share, and optimizing shareholder returns. CTM remains committed to navigating global economic factors and capitalizing on government contracts to bolster its long-term growth strategy.

Executive Commentary from CTM's AGM

The FY24 performance has been robust, with strategic decisions enhancing our regional operations. Our focus on North America and ANZ has yielded positive results, and we anticipate further growth in these regions. The separation of financial reporting for Europe and the Rest of the World allows us to hone in on specific regional needs and opportunities.