Corporate Travel Management (CTD) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional custodians and confirmation of quorum.

• Notice of Meeting and minutes from the previous AGM were tabled and taken as read.

• Introduction of board members, executive team, and external auditor.

• Outlined meeting structure: addresses, presentations, Q&A, and formal resolutions.

Financial performance review

• FY24 revenue increased 19% to $716.9m, with EBITDA up 21% to $201.7m, led by strong performance in North America and ANZ.

• Statutory NPAT was AUD 84.5 million; underlying NPAT rose 22.5% to AUD 113.3 million.

• Europe saw record revenue and EBITDA growth (up 118% and 116%), but 2H EBITDA dropped 48% as war-related projects tapered off.

• Maintained a strong capital position: AUD 134.8 million in cash, no debt, and AUD 100 million in facilities.

• Rest of World (NA, ANZ, Asia) delivered strong FY24 momentum, with full-year EBITDA up 21% and 2H EBITDA up 129%.

Board and executive committee updates

• Jamie Pherous (Managing Director) leads global strategy, M&A, and investor relations.

• Eleanor Noonan (COO) and James Spence (CFO) focus on transformation and capital management.

• Laura Ruffles and two regional CEOs stepped down; internal promotions filled key roles.

• Regional CEOs are responsible for executing local strategies and customer retention across ANZ, Asia, North America, and Europe.

• Succession planning highlighted by internal promotions for North America and Europe.