scroll

Corporate Travel Mgt. (CTD)

Advanced Search

Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.

Ask a question

The Latest Q&A

Question asked 04/09/2026

Corporate Travel Mgt. (CTD)

Hi guys, So I am one of those investors trapped in the Corporate Travel disaster. In my years investing, I was never caught in these sort of issues and I've never paid much attention to what happened to other trading companies in similar circumstances. There is commentary about Corporate Travel resuming trading soon and so I would appreciate to get some education on the different potential scenarios that may unfold, so I can figure where to go from here. I understand the short position has reduced significantly (I guess through some off market trading?), and the recently posted accounts (if you were to believe them) didn't look as bad as perhaps expected. Even though investors' confidence has been trashed, I wonder if there is a PE house or competitor waiting for the bloodbath to then jump in Look forward to your thoughts. Thanks, Angela Hi Team Now that CTD is trading again, how do you see the share price going from here? A massive drop in share price. Is that a reflection of the company suddenly losing such much value or sentiment has changed? Is it a good time to buy the dip and how do you see the price going forward? Thanks Boon Dear MM, Many thanks for all the great work. I was hoping to get your thoughts on Corporate Travel Management, CTD. It’s been an interesting year and couple of days! Best regards, Mark

Answer

Hi Angela, Boon & Mark

Angela – we’re sorry to hear about your predicament, it’s been an incredibly frustrating situation for many local investors. However, your question is particularly timely, with one of the ASX’s biggest corporate governance stories in years resuming trade on Thursday after being suspended for more than a year.

As you say the FY26 numbers actually looked okay, with the margin recovery across ANZ and Europe particularly encouraging:

Operational recovery: FY26 revenue rose 5% to $665.9m, while underlying EBITDA jumped 36% to $113.6m, a meaningful improvement in margins and underlying performance.
Back in the black: NPAT recovered to $17.7m from a $348.5m loss in FY25, which was heavily impacted by impairments and remediation costs.

However, this remains a special situation: the governance issues proved more extensive than first thought, the board and management framework have undergone significant change, and Thursdays return to trading was likely being driven as much by pent-up liquidity and sentiment as fundamentals.

We’ve seen on more than one occasion over the last year that falling foul of governance parameters has led to aggressive selling by fund managers.

For us CTD is in the too hard basket, at least until we can review their fully audited accounts but to specifically answer your questions we believe it will be volatile with plenty of sellers into any bounces. That said, the outcome here is probably not as dire from a financial standpoint as we thought it would be, and there could be a turnaround at some point. If we held (we don’t), we’d probably keep it for now, but we’re not brave enough to buy it with what we currently know.

chart

Corporate Travel Mgt. (CTD)

LAST UPDATED 04/09/2026 10:23

Latest Reports

Morning report 04/09/2026

ETF Friday: Comparing the nuances between LICs, LITs & ETFs

The ASX 200 bounced +0.5% on Thursday, regaining some of the previous session's steep losses as the heavyweight banks, ably supported by the miners, combined to lift the index, not a bad performance with BHP, Coles, Amco and Woodside all trading ex-dividend. To put the banks’ strength into perspective, the Big Four alone accounted for ~50% of the market’s advance on the day.