The Corporate Travel Management Ltd (ASX: CTD) share price is in focus as the company unveils new $175 million debt facilities and expects to recognise a $29 million liability in its European segment following a revenue recognition review.

What did Corporate Travel Management report?

• Secured new $175 million debt facilities with PEP Credit, replacing existing $75 million facility
• Maintains $65 million bank guarantee and transaction facilities from existing lenders
• Estimates annualised cash interest costs will be around $20 million in FY27 and FY28
• Will recognise a $29 million liability in the European segment due to revenue recognition review
• Impairment charge of $89 million expected for the ANZ segment

What else do investors need to know?

Corporate Travel Management’s FY25 and 1H26 financial statements will be released by 28 August 2026, with the company expecting its FY26 full year results to follow soon after. The company has completed reviews into its air margin accounting in Europe and asset impairments for key segments, providing shareholders with clarity on historical financial issues.

CTM continues to enjoy strong support from lenders, securing both traditional and new financing options to manage its ongoing obligations, including remediation payments to key UK clients. The new funding enhances liquidity and ensures operational stability as the company completes its outstanding statutory reporting.

CTM has appointed Barrenjoey and Morgans Financial Limited to assist with investor engagement during this period of transition.

What did Corporate Travel Management management say?

Managing Director and Group CEO Ana Pedersen said:

These financing arrangements are an important step forward for CTM and provide greater certainty as we complete our outstanding financial reporting. We have made substantial progress resolving the historical matters identified through our reviews, allowing us to move forward with greater clarity and focus for our clients, employees, shareholders and other stakeholders.

What’s next for Corporate Travel Management?

The company is focused on completing its FY25 and 1H26 financial statements and expects to provide FY26 results soon after. Meeting the conditions of the new debt facilities—such as issuing audited accounts without a going concern qualification—remains a key priority.

CTM is working to finalise contract negotiations in the UK and address remediation obligations. The new funding arrangements and ongoing lender support put CTM on a firmer financial footing as it looks to rebuild confidence and support stakeholders into FY27 and beyond.

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The post Corporate Travel Management secures new funding and updates on FY25 and FY26 earnings appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Corporate Travel Management. The Motley Fool Australia has positions in and has recommended Corporate Travel Management. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The L1 Gold Fund Ltd (ASX: LGF) share price is back in focus today as the company wraps up its institutional placement and entitlement offers, raising about $254.9 million with strong shareholder demand.

What did L1 Gold Fund report?

• Successfully completed an institutional placement, entitlement offer, and shortfall offer totalling approximately $254.9 million at $2.25 per new share
• Placement raised $160.3 million, Institutional Entitlement Offer $52.5 million, and Shortfall Offer $42.0 million
• Founders Mark Landau and Raphael Lamm fully participated, taking up $52.5 million in entitlements
• New shares to be allotted on 2 September 2026 and commence trading on 3 September 2026
• Retail entitlement offer aiming to raise up to $261.7 million opens 31 August 2026

What else do investors need to know?

The placement and entitlement offers received strong support from both existing and new eligible shareholders, highlighting ongoing confidence in the company and the gold sector. L1 Group chose not to take up its $42 million entitlement so these shares could be allocated to new investors in the shortfall offer, but may subscribe to any retail shortfall.

Eligible retail shareholders will be able to buy 1 new share for every 3 held as at the record date, at an issue price matching the pre-tax net tangible asset value. The offers are not underwritten and the investment manager, L1 Capital Pty Ltd, will bear all fundraising costs.

What’s next for L1 Gold Fund?

The retail entitlement offer will open on 31 August 2026 and close on 9 September 2026. Eligible investors can also apply for extra shares beyond their entitlement through a top-up facility, with allocation at the company’s discretion.

Once the capital raising is complete, L1 Gold Fund expects to use the fresh funds to continue investing in gold and precious metals, aiming to strengthen its portfolio for long-term shareholder value.

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The post L1 Gold Fund raises $254.9m in placement and entitlement offers appeared first on The Motley Fool Australia.

More reading

• L1 Gold Fund posts debut FY26 result and capital raise update

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

Flight Centre Travel Group Ltd (ASX: FLT) shares are taking a hit on Wednesday after the travel company released its FY26 results.

At the time of writing, the Flight Centre share price is down 6.79% to $12.08.

The reaction is probably not what shareholders were hoping for, especially with a few solid numbers in the result.

But once you dig a little deeper, there are also some weaker spots that help explain why the market has reacted this way.

Let’s take a closer look at the numbers.

FY26 results were mixed

Flight Centre reported record total transaction value (TTV) of $25.7 billion, up 4.7% from FY25, while revenue increased 2.5% to $2.9 billion.

Underlying EBITDA also moved higher, rising 3.9% to $466 million. However, underlying profit before tax went the other way, falling 4% to $278 million.

Statutory net profit after tax (NPAT) increased 38% to $149 million, while earnings per share (EPS) jumped 43% to 70.9 cents.

Shareholders also received some good news on the dividend front, with Flight Centre declaring a fully franked final dividend of 30 cents per share. This takes the full-year payout to 42 cents, up 5% on FY25.

The company said trading was strong through the first 9 months before conflict in the Middle East disrupted travel during the fourth quarter.

Flight Centre estimates the disruption cost its leisure business around $60 million in profit.

Why are Flight Centre shares falling?

The weaker result from Flight Centre’s leisure business looks to be one of the biggest reasons investors are selling the shares today.

Barrenjoey analyst Matt Ryan said underlying profit before tax came in around 2% below market expectations, while the leisure division missed consensus by about 8%.

There was still growth in travel volumes, with leisure TTV rising 7.4% to $12.6 billion. But that didn’t flow through to earnings, with underlying EBITDA falling 6.7% to $250 million and underlying profit before tax dropping 21.7% to $139 million.

The corporate business had a stronger year, with underlying profit before tax rising 28% to $240 million.

Furthermore, there’s also a few reasons for investors to be cautious heading into FY27.

Flight Centre expects corporate earnings to be more heavily weighted toward the second-half, with first-half profit likely to come in below last year.

Flight Centre pointed to the Middle East war, upfront investment, currency movements and contract timing as reasons for the softer start.

What happens next?

Despite the subdued mood, there are still a few positive signs heading into FY27.

Flight Centre said July delivered record TTV and its strongest July leisure profit since 2015.

Long-haul travel from Australia is also starting to improve, which could help the business over the year ahead.

RBC Capital Markets highlighted the strong July performance, although there’s still some uncertainty around how quickly earnings can recover.

Investors should get a better idea in November, when Flight Centre plans to provide its FY27 earnings guidance at its AGM.

The post Flight Centre shares are sinking 7% after its FY26 results. Here’s why appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.