The following is a summary of the Global Blue Group Holding AG (GB) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Global Blue reported a 41% increase in revenue for the first nine months, and EBITDA increased by 103% to €115 million.

• The company expects an acceleration of annualized adjusted EBITDA at €159 million.

• Global Blue completed debt refinancing with a new senior debt of €610 million and free cash flow of nearly €100 million.

• The net leverage ratio significantly improved from over 6x to 3.6x, with a target to go below 2.5x.

• For Q3, the company reported an increase of €1.5 billion in store sales and a 26.2% increase in group revenue to €109.4 million.

• Adjusted net income for Q3 rose to €9.1 million from €6.6 million the previous year.

• For the nine-month period, group revenue increased by 41% to €317 million and adjusted EBITDA rose significantly to €115 million.

Business Progress:

• Global Blue confirmed recovery in both the European and APAC regions and strong international spending from US and Gulf country shoppers.

• Despite visa issuing and high flight cost constraints, the company expects continuous improvement, especially from the Chinese market.

• Q3 saw strong performance in TFS, AVPS, and RTS divisions.

• The company successfully acquired ZigZag and consolidated Yogoda and ShipUp, driving RTS revenue increase by 11.6% to €6.8 million.

• Global Blue confirmed no significant impact from inflation or recession, attributing this to their business model and high net worth consumer base.

• The company raised €45 million from Tencent via a strategic equity investment.

More details: Global Blue IR

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