CTM delays FY25 financials again, ASX suspension to continue

Corporate Travel Management Limited (CTM) has announced a further delay in releasing its FY25 financial statements, pushing back the finalization from the previously targeted September 25, 2025. The company expects to provide an update in November 2025. This delay stems from potential adjustments identified by auditors relating to the timing of revenue and cost recognition in the European region between FY25 and prior comparative periods. These adjustments are expected to increase prior year(s) earnings and reduce FY25 earnings, but without a cash impact or effect on FY26 operations.

The mandatory suspension from trading on the ASX, which began on September 1, 2025, will remain in effect until the FY25 accounts are released. CTM has engaged KPMG to conduct a detailed review of FY23-25 financial statements for the European region to assist in completing the audit.

Despite the audit challenges, CTM reported strong operating cashflows of $124m in FY25, with no debt at year-end. The company also indicated a positive start to FY26, with operational performance in line with expectations across all regions, including new customer wins and incremental operating cashflows.