Full Year 2019 Corporate Travel Management Ltd Earnings Call Transcript
Thank you for standing by, and welcome to the Corporate Travel Management Limited Full Year Results Teleconference. (Operator Instructions)
I would now like to turn the conference over to Jamie Pherous, Managing Director; and Neale O'Connell, Global CFO. Please go ahead.
Thank you, Ari. And good morning, everyone.
My name is Jamie Pherous. And with me is our new Global CFO, Neale O'Connell. And we are pleased to present our FY '19 results, which again is another consecutive record for the company.
So if we move to Slide 5, our group financial highlights. And I'll touch on this very quickly. Firstly, as you know, we guide to underlying EBITDA. And I'm pleased to announce that underlying EBITDA is up 20% to $150.1 million, which is a slight bit at the top end of guidance. Secondly, as we flagged, reported operating cash flow was over 100% or 113% for the year and 166% for the second half. We said it would be that because we know how
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