Welcome to our dedicated page for Global Blue Group Holding news (Ticker: GB), a resource for investors and traders seeking the latest updates and insights on Global Blue Group Holding stock.
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 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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