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CTM delivers strong full-year results

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SYDNEY, 24 August 2018: Corporate Travel Management reported its strongest ever full-year results, Thursday, with earnings (EBITDA) of AUD125.4 million reflecting a 27% increase on the previous year.

CTM Asia had a strong second half for the year after ticket prices steadied last January.

It recorded underlying EBITDA of AUD20.2 million on constant currency, up 12% on the previous year.

The business has completed its CTM SMART technology roll-out across Asia, including its Lightning online booking tool, resulting in strong client wins and automation gains.

CTM managing director and founder, Jamie Pherous, said the overall performance across all regions reinforced the company’s global expansion strategy, with organic growth contributing AUD18.9 million to its profit growth.

“We have had another strong year,” he said. “Each region in our network has had a record result, demonstrating our business model and strategic investment decisions are working well for clients and investors.”

CTM’s global operations continued to grow, recording AUD4.95 billion in total transaction value, up 19%, with revenues up 14%.

CTM’s founding region, Australia and New Zealand, continued to outperform the market, reporting a 21% increase in underlying EBITDA to AUD44.0 million. This result was secured with record client win and retention rates, while an impressive 80% of customer transactions are now completed online.

Europe was CTM’s top performing region by growth percentage, with an underlying EBITDA of AUD34.2 million up 86% on the prior corresponding period.

CTM North America provided steady revenue and profit contributions, with underlying earnings of AUD38.9 million on a constant currency basis, up 8% on the previous year.

Pherous said CTM had now established a global footprint in all of its primary markets and had won a number of significant global clients with its award-winning CTM SMART Technology suite.

CTM expects full year underlying EBITDA for the financial year 2019 (July to June) to be in the range of AUD144-150 million, representing approximately 15-20% growth on the previous corresponding period.

Headquartered in Australia, the company employs approximately 2,350 FTE (full-time equivalent) staff globally and provides local services solutions to clients in more than 70 countries.

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