• Revenue and other income of $342.8 million, down 6% from prior period
• Underlying EBITDA of $77.4 million, down 23% from prior period
• Strong performance in Rest of World regions, with Europe undergoing a transitional phase

Corporate Travel Management Ltd (CTM) reported its financial results for the half year ended 31 December 2024. The company's revenue and other income declined by 6% to $342.8 million, while underlying EBITDA decreased by 23% to $77.4 million compared to the prior corresponding period. The company's Rest of World (RoW) regions, which include North America, Australia & New Zealand, and Asia, delivered strong performance, with an 8% increase in revenue and other income and a 38% rise in underlying EBITDA. This was driven by growing market share, higher revenue per transaction, and productivity gains achieved through automation. In contrast, the Europe (EU) region underwent a transitional phase as it wound down from one-off FY24 war-related project work. Despite this, the EU region secured record new corporate client wins, which are expected to drive revenue and margin growth in the second half of FY25 and beyond. The company's capital management program continues, with $59.2 million allocated to share buybacks and $77.2 million distributed as dividends since the inception of the share buyback program. CTM remains focused on expanding market share, enhancing service offerings, and investing in automation to drive sustained, profitable growth.

CTM expects to see stronger profit and revenue in the second half of FY25, continuing the company's historical trend. The company is on track to achieve its long-term objective of doubling FY24 EPS within five years.

CTM is well-positioned for sustained, profitable growth, driven by its focus on expanding market share, enhancing service offerings, and investing in automation. The company expects its performance to strengthen in the second half of FY25, particularly in the fourth quarter, as it benefits from new client wins, the expanded rollout of its Sleep Space offering, and continued automation efforts.