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- Significant improvement in Adjusted EBITDA to \u20ac78.0M in FY2022\/23 vs (\u20ac9.9M) in FY2021\/22, representing 46% of that of FY2019\/20<\/b><\/li>\n<\/ul>\n
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- Strong cash position with ~\u20ac240M of cash and cash equivalents as of March 31, 2023<\/b><\/li>\n<\/ul>\n
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- ~\u20ac211M strategic equity investment from Certares & Knighthead in June 2022, enabling Global Blue to continue pursuing strategic add-on acquisitions and to fund working capital requirements associated with the significant recovery underway<\/b><\/li>\n<\/ul>\n
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- Further acceleration of the recovery in April\/May 2023 Tax Free Shopping Issued Sales-in-Store like-for-like1<\/sup><\/i><\/b><\/sup>in Continental Europe (115% in April\/May vs. 109% in Q4 FY2022\/23) and in Asia Pacific (104% in April\/May vs. 87% in Q4 FY2022\/23)<\/b><\/li>\n<\/ul>\n
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- Besides the current level of recovery, Global Blue will further benefit from the ongoing Mainland China reopening. Alongside the current and expected recovery, Global Blue should benefit from strong long-term growth drivers and is well hedged against the risk of worldwide inflation and a European recession<\/b><\/li>\n<\/ul>\n
SIGNY, Switzerland–(BUSINESS WIRE<\/a>)–
\nGlobal Blue Group Holding AG (NYSE:GB and GB.WS) today announced its financial results for the fourth quarter and full year period ended March 31, 2023.<\/p>\nGlobal Blue\u2019s CEO, Jacques Stern, commented:
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<\/b>\u201cFY2022\/23 marks a first important milestone for Global Blue with a return to positive adjusted EBITDA, at \u20ac78.0m vs. (\u20ac9.9)m last year. Global Blue has benefitted from a strong recovery in Continental Europe since the summer of 2022 and in Asia Pacific since Autumn 2022. Moreover Global Blue is now benefitting from the reopening of Mainland China. Based on a Q4 FY2022\/23 yearly extrapolation and a simulation of 125% Chinese revenue recovery vs. FY2019\/20, the Group adjusted EBITDA would reach over \u20ac200m.\u201d<\/i><\/p>\n1 <\/sup>Refers to the issued Sale-In-Store (Spend) compared to Calendar Year 2019, like-for-like (at constant merchant scope and exchange rates).<\/i><\/p>\n
FINANCIAL PERFORMANCE<\/b><\/p>\n
Quarterly Financial Summary<\/b><\/i><\/p>\n
- Besides the current level of recovery, Global Blue will further benefit from the ongoing Mainland China reopening. Alongside the current and expected recovery, Global Blue should benefit from strong long-term growth drivers and is well hedged against the risk of worldwide inflation and a European recession<\/b><\/li>\n<\/ul>\n
- Further acceleration of the recovery in April\/May 2023 Tax Free Shopping Issued Sales-in-Store like-for-like1<\/sup><\/i><\/b><\/sup>in Continental Europe (115% in April\/May vs. 109% in Q4 FY2022\/23) and in Asia Pacific (104% in April\/May vs. 87% in Q4 FY2022\/23)<\/b><\/li>\n<\/ul>\n
- ~\u20ac211M strategic equity investment from Certares & Knighthead in June 2022, enabling Global Blue to continue pursuing strategic add-on acquisitions and to fund working capital requirements associated with the significant recovery underway<\/b><\/li>\n<\/ul>\n
- Strong cash position with ~\u20ac240M of cash and cash equivalents as of March 31, 2023<\/b><\/li>\n<\/ul>\n
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