KEY HIGHLIGHTS

✦ CTD gained 0.43% to $2.33 on 4 September 2026

✦ FY26 results released on 2 September 2026 after trading was suspended

✦ Revenue and other income up 4% to A$669.9 million; underlying EBITDA up 36% to A$113.6 million

✦ NPAT of A$17.7 million compared with FY25 loss of A$348.5 million; 18.3 million transaction volumes (up 13%)

Corporate Travel Management Ltd (ASX:CTD) gained 0.43% to $2.33 on 4 September 2026, stabilising after a period of Volatility that included the temporary suspension of trading while the company released its FY26 results. The results showed a dramatic improvement in financial performance, with EBITDA up 36% and a return to profitability from a significant FY25 loss.

Corporate Travel Management is an Australian-headquartered global corporate travel management company, providing managed travel services to medium and large corporations across Australia, North America, Europe and Asia. The company handles corporate travel bookings, policy compliance, reporting and traveller safety for its Business clients.

FY26 Financial Results

Corporate Travel Management released its FY26 results on 2 September 2026 after trading was suspended to allow for an orderly release. Revenue and other income increased 4% to A$669.9 million, underlying EBITDA increased 36% to A$113.6 million, and NPAT was A$17.7 million compared with a FY25 loss of A$348.5 million.

The return to profitability — from a A$348.5 million loss to a A$17.7 million profit — represents the most dramatic aspect of the FY26 result. The FY25 loss was heavily influenced by significant items, and the FY26 NPAT of $17.7 million represents the underlying business returning to profitability.

The 36% increase in underlying EBITDA to A$113.6 million demonstrates strong operating leverage, as the business has grown revenue 4% while delivering 36% EBITDA growth. This Operating Leverage reflects Fixed Cost base efficiencies and the benefit of scale in the corporate travel management model.

Key Catalysts to Watch

New corporate client wins are the primary growth catalyst, as each new enterprise client adds to the transaction Volume base. Any major new contract announcements — particularly large government or corporate clients — would be significant. Progress on the company's technology platform and any AI-driven automation improvements could support further operating leverage.

Risks

Corporate travel Demand is sensitive to economic conditions — in a recession, companies reduce business travel budgets. Competition from other corporate travel managers (American Express Global Business Travel, BCD Travel, CWT) is intense. Technology disruption — including self-booking tools and AI-driven alternatives to managed travel — could reduce the need for human-assisted corporate travel management over time. Currency movements affect the translation of international earnings.

CONCLUSION

Corporate Travel Management's 0.43% gain on 4 September 2026 represents stability following a significant FY26 results release that showed underlying EBITDA up 36% and a return to NPAT profitability from the FY25 loss. The 13% growth in transaction volumes to 18.3 million demonstrates operational momentum. For investors with conviction on business travel recovery and corporate travel management technology, CTD's improving financial profile is worth tracking closely.