American Express Global Business Travel (Amex GBT) announced it will begin trading on the NYSE under the ticker symbol GBTG starting May 31, 2022. This milestone follows the successful business combination with Apollo Strategic Growth Capital (NYSE: APSG, APSGU, APSG WS), which closed on May 27, 2022. Amex GBT aims to capitalize on the $1.4 trillion business travel market, supported by strategic acquisitions, technology enhancements, and new investments from notable partners.
GBT JerseyCo Limited (Amex GBT) reported significant financial results for Q1 2022, with a 179% increase in revenue to $350 million. Despite a net loss of $91 million, the company raised its 2022 revenue guidance by $150 million to $1.75 billion, and Adjusted EBITDA guidance by up to $78 million, reflecting ongoing business travel recovery. In April 2022, transaction recovery reached 72% of 2019 levels, contributing to a positive outlook for the next phase of growth. The company also noted strong customer retention at 95% and significant new wins totaling $3.9 billion.
American Express Global Business Travel (Amex GBT) will release its first quarter 2022 earnings on May 17, 2022, before market open. A pre-recorded earnings webcast will be available at 8:00 am ET on the company’s website. This announcement follows a business combination agreement with Apollo Strategic Growth Capital (NYSE: APSG), expected to close by the end of May, pending customary conditions. Amex GBT aims to solidify its position as the leading B2B travel platform, offering comprehensive travel management services globally.
American Express Global Business Travel will host a hybrid Investor Day on April 12, 2022, starting at 8:45 am ET at the New York Stock Exchange. The management team will provide insights on the company’s performance and outlook, with a live webcast available on their investor website.
The event follows a business combination agreement with Apollo Strategic Growth Capital (NYSE: APSG) expected to finalize in the first half of 2022, enhancing Amex GBT's market presence.
American Express Global Business Travel (Amex GBT) announced its preliminary financial results for 2021, reporting revenue of $763 million and a net loss of $474 million, with total transaction value (TTV) increasing by 14% year-over-year. Pro forma results, including a full year of Egencia's operations, indicated revenue of $889 million, exceeding forecasts by $61 million. The company expects continued recovery in business travel, with transaction levels reaching 51% of 2019 levels by February 2022. Amex GBT is well-positioned for growth, supported by significant synergies from its acquisitions.
American Express Global Business Travel announced its upcoming virtual presence at key conferences, including Wolfe Research’s FinTech Forum on March 8, 2022, Morgan Stanley’s Tech, Media & Telecom Conference on March 10, 2022, and Deutsche Bank’s Media, Internet and Telecom Conference on March 14, 2022, where a presentation will occur at 10:20 AM ET.
The Company also disclosed a business combination with Apollo Strategic Growth Capital (NYSE: APSG), expected to finalize in the first half of 2022, leading to Amex GBT's NYSE listing.
American Express Global Business Travel (Amex GBT) announced key upcoming events, including the release of its fourth quarter and full year 2021 results scheduled for March 7, 2022. A pre-recorded earnings conference call will be available at 9:00 am ET. The company's Investor Day is set for April 12, 2022, at the New York Stock Exchange, featuring discussions about performance and strategy with top executives. Additionally, Amex GBT is finalizing a business combination agreement with Apollo Strategic Growth Capital (NYSE: APSG) expected to close in H1 2022.
American Express Global Business Travel (GBT) has entered into a merger agreement with Apollo Strategic Growth Capital (APSG), valuing the combined entity at a pro forma market capitalization of approximately $5.3 billion. The transaction aims to raise up to $1.2 billion in gross proceeds, including a $335 million PIPE investment at $10.00 per share. This merger positions GBT to become the largest publicly traded B2B travel platform, enhancing its growth strategy and investment capacity. New strategic investors include Zoom and Sabre, joining existing backers like American Express and Expedia.