Flight Centre group’s corporate business hits new high

The TMC foresees client spending to stay below pre-COVID levels in the near term due to clients continued cost-reduction focus

Aug 31, 2023

Flight Centre Travel Group, renowned for its business travel subsidiaries such as FCM and Corporate Traveller, has disclosed an underlying EBITDA of AU$301.6 million in its recently posted annual outcomes. This marks a remarkable reversal of nearly AU$485 million from the AU$183.1 million underlying deficit documented a year ago, signifying a substantial 265 percent enhancement.

Key takeaways

  • The group's revenue for FY23 escalated to AU$2.28 billion, up from the FY22's AU$1.01 billion, with a pre-income tax profit of AU$70.46 million;
  • Encompassing the 12-month period ending on June 30, 2023, the corporate travel sector of this Brisbane-headquartered conglomerate is admirably surpassing industry recovery benchmarks. This is evidenced by an all-time high Total Transaction Value (TTV), predominantly fueled by expansion in the EMEA region;
  • The group's corporate travel TTV reached a remarkable AU$11 billion, denoting a year-on-year surge of 96 percent and an almost 25 percent rise compared to its prior pinnacle of AU$8.9 billion in FY19. In May, the group informed its stakeholders of its trajectory towards establishing a new record.

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