Global Blue Group Holding Ltd Stock Price, News & Analysis

Global Blue reported a slowdown in Tax Free Shopping growth for March 2025, with global Issued Sales in Store reaching +2% year-over-year, down from +10% in February. Continental Europe showed stable performance at +7%, driven by a +9% increase in shoppers but offset by a -2% decrease in average spend due to unfavorable USD/EUR exchange rates.

US Tax Free Spend grew +16%, while Mainland Chinese shoppers rebounded to +6%. GCC shoppers' spending declined -12% due to Ramadan calendar shifts. Among European destinations, Spain led with +21% growth, while France and Italy both recorded +6%, and Germany remained flat.

Asia Pacific performance softened to -7%, affected by unfavorable Yen exchange rates. The region saw +7% more shoppers but a -13% decline in average spend. South Korea showed strong growth at +45%, while Japan declined -7% and Singapore dropped -21% due to high comparison base.

Global Blue Group Holding AG (GB) has announced an Extraordinary General Meeting (EGM) scheduled for May 6, 2025, at 11:00 CEST. The meeting will take place at Niederer Kraft Frey, Bahnhofstrasse 53, 8001 Zürich, Switzerland.

The company has made all preparatory documents for the EGM available in the 'Investor Relations' section of their website. Additionally, the EGM invitation and Proxy Card have been filed as Exhibits 99.1 and 99.2 to the Company's Report on Form 6-K, dated April 9, 2025.

Global Blue reports Tax Free Shopping performance for February 2025, showing a +10% year-on-year growth in Issued Sales in Store, down from +29% in January. The slowdown was attributed to one less retail day and calendar shifts in Lunar New Year and Ramadan.

Continental Europe saw +9% growth, driven by increased shopper numbers, with US and European Non-EU shoppers both up +23%. GCC spending softened to +21%, while Mainland Chinese spending declined -11%. Key markets performed well: Spain (+16%), Germany (+9%), Italy (+9%), and France (+7%).

Asia Pacific recorded +10% growth, down from January's +46%, impacted by calendar effects. The region saw +17% more shoppers and +10% higher average spend. Mainland Chinese spending grew +19%, while Hong Kong/Taiwan declined -11% and North East Asia fell -34%. Key markets showed mixed results: South Korea (+50%), Japan (+14%), and Singapore (-12%).

Global Blue announces key changes to its Executive Committee effective March 1, 2025, following COO Greg Gelhaus's departure from APAC and Central Europe operations. Virginie Alem, current Chief Marketing Officer, will additionally serve as COO Japan, overseeing the transformation of operations amid Japan's 2026 Tax Free Shopping regulatory changes from VAT-Off to VAT-On model.

Gavin Ingram, with 10 years of APAC Legal team leadership, is appointed COO APAC (excluding Japan), managing South Korea, Singapore, and China operations. Laurent Delmas, COO Southern Europe, expands his role to include Eastern European countries, adding Austria, Croatia, Czech Republic, Hungary, Poland, Serbia, Slovakia and Switzerland to his portfolio.

Global Blue (NYSE:GB) reports strong financial results for 9M FY24/25, with 20% YoY revenue growth to €381m and 34% increase in Adjusted EBITDA to €154m. The company achieved a solid improvement in Adjusted EBITDA margin of 4.2pts to 40.4%.

Key highlights include:

• Q3 FY24/25 revenue reached €131.4m, up 20% YoY
• Net leverage ratio improved to 2.6x from 3.6x year-over-year
• Successfully reduced Term Loan interest rate margin by 50 basis points to 3.25% p.a.
• Company reiterates FY24/25 Adjusted EBITDA guidance of €185-205m, expecting to achieve towards the top half

A significant strategic milestone was announced on February 18, 2025, with Shift4's acquisition of Global Blue at $7.50 per common share, representing a 15% premium. The transaction values Global Blue at ~$2.5 billion enterprise value and is expected to close by Q3 2025.

Shift4 has entered into a definitive agreement to acquire Global Blue for $7.50 per common share, representing a 15% premium to Global Blue's closing share price as of February 14, 2025. The transaction, expected to close by Q3 2025, will create a global leader in commerce and shopping technologies with presence in over 50 countries.

The combined entity will serve several hundred thousand retail and hospitality locations. Global Blue's preliminary Q3 FY24/25 results show strong performance with a 20% YoY revenue increase to €131m and 31% YoY Adjusted EBITDA growth to €52m. Last Twelve Months figures indicate a 20% YoY revenue increase to €486m and 38% YoY Adjusted EBITDA growth to €188m.

The acquisition has received unanimous approval from both companies' boards of directors and will be financed through cash on hand and a 364-day $1,795 million bridge loan facility.

Shift4 (NYSE: FOUR) has announced a definitive agreement to acquire Global Blue (NYSE: GB) for $7.50 per common share in cash, representing a 15% premium and a ~$2.5 billion enterprise value. Global Blue serves over 400,000 premium retail and hospitality locations with tax-refund and currency conversion technology across Europe, Asia, and South America.

The acquisition will enhance Shift4's unified commerce capabilities by integrating Global Blue's merchant solutions into their global payments platform. Key shareholders Ant International and Tencent will explore strategic partnerships with Shift4 and remain shareholders, facilitating the distribution of Alipay+ and Weixin Pay throughout the Shift4 ecosystem.

The transaction, unanimously approved by both companies' boards, is expected to close by Q3 2025, subject to regulatory approvals and a minimum 90% tender of Global Blue's shares. Shift4 plans to finance the acquisition through cash on hand and a $1,795 million bridge loan facility.

Global Blue reported strong Tax Free Shopping growth in January 2025, with worldwide issued Sales in Store increasing by 29% year-on-year. Continental Europe showed a 19% growth, driven by a 24% increase in shopper numbers, despite a 4% decrease in average spend per shopper. US shoppers led spending growth at 34%, followed by European Non-EU (+31%) and GCC shoppers (+30%).

Asia Pacific demonstrated remarkable performance with 46% growth, accelerating from December's 29%. This was supported by a 36% increase in shopper numbers and 7% higher average spend. Mainland Chinese shoppers showed exceptional growth of 87%, with a 113% rise in shopper numbers. Key markets like South Korea (+72%) and Japan (+56%) displayed strong performance.

Compared to 2019 levels, worldwide recovery reached 176%, with Japan showing the strongest recovery at 364%, while Germany remained below pre-pandemic levels at 68%.

Global Blue Group Holding AG (NYSE: GB) has announced it will release its Q3 and nine-month financial results for fiscal year 2024/25 on February 26, 2025, before market opening. The release will be in Form 6-K format, covering the period ended December 31, 2024.

The financial package will include Management's Discussion and Analysis, Consolidated Financial Statements and Notes, press release, and investor presentation. Additionally, an audio commentary on the results will be provided by CEO Jacques Stern and CFO Roxane Dufour. All materials will be accessible through the company's Investor Relations website section.