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Global Blue Group Holding Ltd (GB) delivers innovative tax-free shopping and payment solutions for international travelers across 40+ countries. This news hub provides investors and industry professionals with timely updates on operational developments, financial performance, and strategic initiatives shaping the global retail finance sector.
Access curated press releases and analysis covering key areas including quarterly earnings, merchant network expansions, technology partnerships, and regulatory updates. Our repository simplifies tracking GB's market position through verified updates on its core services: tax refund solutions, cross-border payment processing, and digital consumer engagement tools.
Bookmark this page for structured access to critical updates affecting GB's role in connecting 300,000+ retailers with international shoppers. Monitor developments in real-time currency conversion systems, VAT recovery innovations, and partnership announcements with major financial institutions.
Global Blue's July 2024 Tax Free Shopping update shows continued positive growth across Continental Europe and Asia Pacific. Worldwide issued Sales in Store like-for-like year-on-year performance reached +25% in July 2024, compared to +41% in Q2 2024. Continental Europe saw a +12% growth, led by a 10% increase in shoppers and 2% in average spend. Asia Pacific maintained strong growth at +64%, driven by a 49% increase in shoppers and 10% in average spend.
Key highlights include:
- Mainland Chinese Tax Free Spend led growth in both regions
- US and GCC shoppers showed positive growth in Europe
- Spain (+25%) and Italy (+19%) performed well in Europe
- Japan (+103%) and South Korea (+44%) excelled in Asia Pacific
- France (-2%) faced challenges due to pre-Olympic Games preparations
Global Blue Group Holding AG (NYSE: GB and GB.WS) has announced the release date for its Q1 FY2024/25 financial results. The company will publish its report on August 28, 2024, before the market opens. The financial disclosure will include:
- Management's Discussion and Analysis of Financial Position and Results of Operations
- Consolidated Financial Statements and Notes
- Press release and investor presentation
- Audio commentary on results by CEO Jacques Stern and CFO Roxane Dufour
All materials will be accessible through the Investor Relations section of Global Blue's website.
Global Blue reported an accelerating recovery in Tax Free Shopping across Continental Europe and Asia Pacific in June 2024.
Globally, the issued Sales in Store (SIS) like-for-like recovery reached 168% compared to the same period in 2019, up from 163% in April/May 2024 and 140% in Q1 2024. Continental Europe saw a slight improvement, with a recovery rate of 147% in June 2024, driven by strong performances in France (164%), Spain (160%), and Italy (163%).
GCC shoppers had a significant impact, achieving a recovery rate of 335%, while US shoppers reached 317%. In Asia Pacific, the recovery rate was 236%, led by travelers from Hong Kong and Taiwan at 764%. Mainland Chinese shoppers showed a recovery rate of 122%, stable from April/May.
Year-on-year growth in Tax Free Shopping was also impressive, with global SIS growth at 32% in June 2024. Continental Europe showed a 14% increase, while Asia Pacific recorded a 92% rise, driven by Mainland Chinese (161%), North East Asia (122%), and Hong Kong and Taiwan (66%).
Global Blue reported an accelerated recovery for Tax Free Shopping in May 2024 compared to 2019 levels. The global recovery rate reached 172%, up from 153% in April and 140% in Q1. Mainland Chinese shoppers drove significant growth, especially in Japan, which saw a 258% recovery rate due to favorable FX rates. Continental Europe achieved a 145% recovery, boosted by France (170%), Spain (169%), and Italy (164%). Asia Pacific recorded a 250% recovery rate, led by Japan (360%). Year-on-year growth for May 2024 was 47%, with Mainland Chinese shoppers showing a 164% increase. US and GCC shoppers also contributed to strong growth.
Global Blue reported a 36% YoY increase in revenue to €422m for FY23/24, with a 91% rise in Adjusted EBITDA to €149m. The EBITDA margin improved by 10.2 percentage points to 35.2%. The company's net leverage ratio improved from 6.5x to 3.4x. The Tax-Free Shopping recovery saw significant gains, with Continental Europe and Asia Pacific showing 141% and 223% recoveries, respectively.
Strategic initiatives focused on digitalization, commercial gains, and product development have shown solid progress. Financial guidance for FY24/25 remains firm with an expected Adjusted EBITDA of over €200m.
Net debt was reduced, and debt maturity extended to 2030. The company's repricing of loans and revolving credit facilities is expected to save €6m annually in interest costs.
Global Blue has released the monthly Tax Free Shopping business update for April 2024, showing a global dynamic recovery in Tax Free Shopping across Continental Europe and Asia Pacific. The recovery rate accelerated globally to 153% in April 2024 compared to 2019, exceeding Q1 2024's 140%. Continental Europe saw a recovery rate of 137% in April compared to 128% in Q1 2024, with strong performances in Spain, France, and Italy. While the US shopper recovery accelerated to 336%, the GCC recovery was negatively impacted by the Ramadan period, dropping to 198%. In Asia Pacific, the recovery rate hit a record level of 194% in April, driven by Japan and South Korea. Mainland Chinese shoppers saw a recovery rate of 112% globally and 158% in Asia Pacific in April.
Global Blue Group Holding AG (NYSE: GB) has shown a strong recovery with decreased net leverage, aiming for further reduction, leading to a repricing of its term loan and revolving facility. The interest rates for both facilities are set to decrease, enhancing the Company's financial position.
Global Blue Group Holding AG (NYSE: GB) will release its financial results for the fiscal year ended March 31, 2024, on June 5, 2024. The results will include Management's Discussion and Analysis, Financial Statements, and an investor presentation. CEO Jacques Stern and CFO Roxane Dufour will provide commentary. Access the materials on the company's Investor Relations website.
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