CTM posts earnings growth across all regions
Global corporate travel management agency CTM is reporting solid earnings growth across all its operating regions for the full-year ended 30 June 2019.
Total transaction value (TTV) increased by 30% to AUD$6.46bn (US$4.38bn) over the year, driven by market share gains in all operating regions, which include US, Europe, AU/NZ and Asia, the agency reports.
The financials put the underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rising 20% to AUD$150.1m, with statutory net profit after tax attributable to owners of CTM increasing 12% to AUD$86.2m.
CTM Managing Director Jamie Pherous (pictured) said: “This result demonstrates the strength of our strategic approach and the resilience of the company’s operating model. We have stayed the course on our long-term vision and maintained focus on sustainably expanding our global operations, driving organic growth and leveraging our technology platforms.
“The company has grown in every year since listing in 2010.”
“We are now moving into the third phase of our strategy which is to optimise our position in each market and further strengthen our technology innovation to drive a leadership position in global
CTM says it will continue to seek selective opportunities for M&A “where it represents strong value and aligns with the group’s strategic goals”.
In terms of regional variations in the group’s annual performance, the company reports experiencing some slowdown in activity from ongoing uncertainty over Brexit negotiations, tensions from the China-US trade war and the demonstrations in Hong Kong. Nevertheless, CTM says it expanded market share and increased underlying EBITDA across all regions during the year.