Corporate Travel (ASX: CTD) says underlying earnings are running ahead of its five-year plan after a solid first quarter—typically its seasonally slowest.
For 1QFY26, underlying EBITDA rose 29% year on year to $40.9 million. Revenue and other income increased 6%, while the EBITDA margin widened by 400 basis points. Liquidity improved, with cash up 83% to $76.1 million.
Regional trends were mixed: North America continued to recover month on month from May 2025, in step with stronger airline commentary; Australia & New Zealand activity was stable; Europe benefited from FY25 client wins and a larger share of government panel work late in FY25; and Asia faced headwinds from tariff uncertainty, particularly due to exposure to Greater China.
The shares remain in trading suspension ahead of delayed FY25 results, now expected in November. The company told the ASX that operations are unaffected by the review of FY23–FY25 financials and the FY25 audit, with “all operations, customer engagements and supplier commitments proceeding as normal.” FY26 guidance will be released alongside the FY25 results.