Corporate Travel Management on Thursday released an unaudited financial statement for the three months to 30 September 2025, assuring investors that its business “continues to operate as usual” amid the ongoing review of its FY23-FY25 accounts after financial accounting errors were discovered in August.
The Australian-headquartered travel management company has since repeatedly delayed the release of its 2025 full year statement. In its latest investor update, the company stated its operations remain “unaffected” by the ongoing audit and that it remains in “a strong financial position”.
According to the company, revenue for the quarter ending on 30 September 2025 increased 6 per cent year on year to AU$180.2 million. EBITDA (earnings before interest, taxes, depreciation and amortisation) also increased 29 per cent year on year, with Europe recording the strongest growth following “significant” customer wins and an increased share in government panel contracts in FY25, CTM said.
It also cited continued month-on-month recovery in North America since May 2025, and “stable” customer activity across Australia and New Zealand.
CTM reported a 98 per cent customer retention rate for FY25, along with customer wins worth AU$1.72 billion. Between July and 30 September, the company said it secured additional client wins to the value of AU$430 million.
The TMC added that its incremental revenue to EBITDA metric is “tracking ahead of expectations set in our five-year strategic plan”. In terms of its liquidity, the company reported a cash balance of AU$168 million at 30 September 2025, with no drawn debt.
CTM in August voluntarily suspended its shares from trading on the Australian Stock Exchange (ASX) and delayed the publication of its FY25 accounts after discovering accounting discrepancies across its European operations.
Last month, the company said it had engaged KPMG to conduct a review of its FY23-25 European financial accounts, with a full statement expected to be released in November.