Publishers Note: An earlier version of this article may have given the impression that the earnings downgrade was in relation to the accounting errors. We have clarified this article to avoid misunderstanding.
Corporate Travel Management (CTM) has shocked the market this week by placing its shares into a trading halt on the Australian Securities Exchange (ASX), after uncovering significant accounting errors within its European operations.
The Brisbane-based company, one of the world’s largest corporate travel management firms, confirmed that irregularities in how revenue and expenses were recognised had forced it to delay the release of its 2025 full-year results until 25 September.
Despite the setback, CTM assured stakeholders it remains in a strong financial position, with AUD 124 million in cash and no debt on its balance sheet.
While the accounting errors themselves stem from Europe, corporate clients and travel buyers in Australia, who rely on CTM for efficient, cost-effective travel solutions, will be closely monitoring the company’s financial stability and future strategy.
For business travellers, CTM’s strong cash position suggests services and operations will continue without interruption in the short term.
CTM’s delayed results announcement in September will be critical for determining the company’s longer-term strategy and restoring investor confidence. For now, Australian travellers can expect business as usual.
