Global travel management company CTM’s financial year (FY) 2023 results saw revenue rocketing by 70% to A$660.1mn, ahead of earnings guidance of A$648mn.
In Europe, CTM’s business achieved record Ebitda of A$84.1mn – year-on-year growth of 125% was roughly twice FY19 level – and revenue was up 70% to A$143.0mn.
Managing director Jamie Pherous said: “Our performance in FY23 validates our successful strategy during the pandemic, which has given us a larger global platform. Pleasingly we are successfully converting the revenue recovery into net profit.”
CTM’s industry specialisms include travel management for the energy, resources and marine sectors. Global business travel has rebounded faster than expected a year ago, according to new research by the Global Business Travel Association in collaboration with Visa.