Corporate Travel Management (ASX:CTD) Returns to Profit with FY26 NPAT of $17.7 Million

Sonal Goyal

02 September 2026 11:02 AM AEST

Corporate Travel Management (ASX:CTD) Returns to Profit with FY26 NPAT of $17.7 Million

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Key Highlights

Revenue and other income increased 4% to $669.9 million, while underlying EBITDA increased 36% to $113.6 million
The Group returned to profit with NPAT of $17.7 million, compared with a loss of $348.5 million in FY25
Customer remediation has substantially advanced, with approximately 78% of refunds agreed or close to finalisation, supported by cash of $106.9 million and a $175 million committed funding package
In the first month of FY27, transaction volumes rose to approximately 1.6 million, though total transaction value and Revenue were lower than the prior corresponding period at approximately $830 million and $53.3 million respectively

Corporate Travel Management Limited (ASX:CTD) has released its FY26 results, reporting improved underlying earnings, a return to net profit, and continued progress on customer remediation and governance initiatives. The company said FY26 performance was consistent with the forecast financial and operating metrics it provided to investors at its FY25 results presentation.

Financial Performance

Revenue and other income increased 4% to $669.9 million, up from $643.4 million in FY25, while underlying EBITDA increased 36% to $113.6 million, up from $83.6 million. The Group reported net profit after tax of $17.7 million, a turnaround of $366.2 million from the $348.5 million loss recorded in FY25. Total transaction value rose 2% to $9.8 billion and transaction volumes increased 13% to 18.3 million, with cash of $106.9 million, including client cash of $15.8 million, held at 30 June 2026.

By region, Australia and New Zealand delivered revenue growth of 6% to $181.4 million, with underlying EBITDA up 53% to $39.2 million. Europe reported a turnaround, with revenue increasing 34% to $113.7 million and underlying EBITDA improving to $24.7 million from a loss of $1.2 million in FY25, supported by increased special project activity and improved contract economics. North America delivered underlying EBITDA of $62.3 million, broadly in line with FY25 despite foreign exchange headwinds, while Asia delivered underlying EBITDA of $15.8 million alongside continued Volume growth and client retention.

Customer Remediation and Liquidity

The company made substantial progress resolving historical customer matters during FY26, with approximately 78% of refunds agreed or close to finalisation. CTM finished the year with cash of $106.9 million and has since secured a $175 million committed funding package, which the company said provides certainty and flexibility to complete remediation activities while continuing to support ongoing operations. On 31 August 2026, the Australian Government Department of Finance released summary findings of an independent review of CTM's management of the Whole of Australian Government Travel Arrangements, concluding there was no evidence of widespread or systemic overcharging.

FY27 Outlook and Trading Update

Trading in the first month of FY27 remained broadly in line with management expectations. In July 2026, transaction volumes increased to approximately 1.6 million, compared with 1.5 million in the prior corresponding period. However, total transaction value was approximately $830 million compared with $840 million previously, and revenue was approximately $53.3 million compared with $58.3 million, which the company attributed primarily to seasonal patterns, client mix and foreign exchange impacts. CTM has secured $178 million in new Business wins year-to-date on a total transaction value basis, and the UK Ministry of Defence renewed the company's contract for the Afghan Resettlement Programme in early August 2026, expected to generate approximately GBP 28 million in total transaction value over the first six months. Managing Director and CEO Ana Pedersen said FY26 represented an important step forward for the company, though she noted Earnings remain below historical levels and there is still work to do. Further guidance is expected at the company's Annual General Meeting in November 2026.

Conclusion

Corporate Travel Management's FY26 results show a marked improvement in profitability, with underlying EBITDA up 36% and a return to net profit following the prior year's significant loss, alongside continued progress on customer remediation and governance initiatives. While trading in the opening month of FY27 showed a decline in transaction value and revenue against the prior corresponding period, the company reported new business wins continuing into the new financial year and confirmed guidance would be updated at its upcoming Annual General Meeting.

FAQs

Q: What was Corporate Travel Management's FY26 net profit?

A: The company reported NPAT of $17.7 million in FY26, compared with a loss of $348.5 million in FY25.

Q: How did revenue and EBITDA perform in FY26?

A: Revenue and other income increased 4% to $669.9 million, while underlying EBITDA increased 36% to $113.6 million.

Q: What progress has been made on customer remediation?

A: Approximately 78% of refunds have been agreed or are close to finalisation, supported by $106.9 million in cash and a $175 million committed funding package.

Q: How did trading in FY27 compare with the prior year?

A: July 2026 transaction volumes rose to approximately 1.6 million from 1.5 million, but total transaction value fell to approximately $830 million from $840 million and revenue fell to approximately $53.3 million from $58.3 million.

Q: What did the government review of CTM's contract find?

A: An independent review released on 31 August 2026 by the Australian Government Department of Finance concluded there was no evidence of widespread or systemic overcharging in CTM's management of the Whole of Australian Government Travel Arrangements.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.