Founded in 1994 and with its headquarters in Brisbane, Corporate Travel Management Ltd (CTD) is a global travel management company with 3,206 employees.
“Corporate Travel Management Ltd’s revenue split is usually 30% in the first half of the year and 70% in the second half,” Raymond said.
“This time, it’s likely to be 38% in the first half.
“Its first quarter was really strong, and the second quarter is likely to slow down, given less business travelling during Thanksgiving & Christmas.
“Expect a strong first half but Middle East conflict would have had some impact on the second half. “The first half of this year should have a stronger seasonal skew vs historical (Morgans forecast 38% skew toward first half vs historical 30% first half).
“What’s the key number? The first half of 2024 earnings before interest, tax, depreciation, and amortisation (EBITDA) of A$101.5 million, up 98% on previous corresponding period, vs 5 pcp vs consensus of A$108.5 million,” Raymond said.
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