Corporate Travel Management financial recovery

Corporate Travel Management (CTM) has reported a return to profitability for fiscal year 2026, posting a net profit after tax of $17.7 million. This represents a significant recovery from a $348.5 million loss in the previous fiscal year. The company’s underlying EBITDA rose 36% to $113.6 million.

This financial turnaround follows a period of instability characterized by a suspension of its ASX securities and a scandal involving $272 million in customer overcharging, which notably involved the British government. To address these issues, CTM implemented governance overhauls, secured an agreement with the UK government for a lower repayment amount, and obtained $175 million in funding from Pacific Equity Partners to support its remediation program.

Despite the improved earnings and a 97% customer retention rate, the company’s re-listing on the ASX saw a substantial share price decline, with shares trading at approximately $2.90—an 80.5% decrease from the pre-suspension price of $16.07. CEO Ana Pedersen indicated that efforts continue regarding board refreshing and governance reviews.