Global Business Travel (GBTG)

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Global Business Travel (GBTG) - 2022 Q4 - Annual Report
2023-03-20 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...
Global Business Travel (GBTG) - 2022 Q4 - Earnings Call Transcript
2023-03-09 19:04
Financial Data and Key Metrics Changes - The company reported a revenue recovery of 75% of pro forma 2019 levels in Q4, up from 72% in Q3, with adjusted EBITDA of $43 million and an 8% adjusted EBITDA margin, reflecting a significant year-over-year improvement [60][76][109] - For the full year 2022, revenue reached $1.85 billion, exceeding guidance, with adjusted EBITDA of $103 million, marking a substantial year-over-year improvement of $623 million [80][111] - The company expects 2023 revenue growth of 17% to 20%, with adjusted EBITDA between $330 million to $370 million, indicating a margin expansion of 9 to 11 percentage points compared to 2022 [26][132] Business Line Data and Key Metrics Changes - The SME transaction recovery reached 82% in Q4, up from 80% in Q3, with new wins value totaling $2.1 billion for the full year 2022 [41][73] - The Meetings and Events division is expected to see adjusted EBITDA at or above 2019 levels, indicating strong demand in this segment [126] - The company achieved a total of $3.5 billion in new wins value in 2022, reflecting strong momentum in the SME segment [68][101] Market Data and Key Metrics Changes - The company noted a recovery in both the Americas and EMEA regions, with U.S. recovery reaching 71% in Q4 and EMEA recovering by 2 percentage points to 74% of 2019 levels [48][96] - The company anticipates a higher recovery in Southeast Asia and Canada, with steady recovery expected in Europe and the U.S. [19][20] Company Strategy and Development Direction - The company is focused on accelerating growth in the SME segment, which represents a significant addressable opportunity of $950 billion in travel spend [49][89] - The strategic priorities include enhancing operating leverage, with expectations of single-digit growth in operating expenses while driving strong margin expansion [90][120] - The company aims to deliver additional synergies from the Egencia acquisition, targeting a total opportunity of $109 million [102][118] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business travel recovery, with industry experts predicting continued growth in business travel spending and capacity [84][86] - The company expects to achieve positive free cash flow during 2023, supported by a normalization of working capital [83][135] - Management highlighted strong customer demand, with 78% of travel managers expecting more business trips in 2023 compared to 2022 [115] Other Important Information - The company achieved a customer retention rate of 95% for the full year, indicating strong customer satisfaction [64] - The company reported a significant improvement in free cash flow usage, declining to $25 million in Q4, an $87 million improvement from Q3 [112] Q&A Session Summary Question: Can you help us quantify the impact of distributed teams on event volume? - Management indicated that the Meetings and Events division is expected to perform at or above 2019 levels, reflecting strong demand driven by distributed teams [126] Question: What is the competitive landscape in the SME segment? - Management acknowledged increased competitive activity but emphasized their unique position due to a diverse range of solutions tailored to different SME needs [128][129] Question: Why is hotel recovery outpacing air recovery? - Management noted that the increase in hotel bookings is driven by a strategic focus on improving content and attachment rates, along with a rise in demand for localized Meetings and Events [143]
Global Business Travel (GBTG) - 2022 Q3 - Earnings Call Transcript
2022-11-10 20:31
Global Business Travel Group, Inc. (NYSE:GBTG) Q3 2022 Earnings Conference Call November 10, 2022 9:00 AM ET Company Participants Barry Sievert - Vice President, Investor Relations Paul Abbott - Chief Executive Officer Martine Gerow - Chief Financial Officer Eric Bock - Chief Legal Officer, Global Head of M&A and Compliance & Corporate Secretary Conference Call Participants Toni Kaplan - Morgan Stanley Steve Ju - Credit Suisse Duane Pfennigwerth - Evercore ISI Operator Good morning and welcome to the Americ ...
Global Business Travel (GBTG) - 2022 Q3 - Quarterly Report
2022-11-09 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-39576 Global Business Travel Group, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 98 ...
Global Business Travel (GBTG) - 2022 Q2 - Earnings Call Presentation
2022-08-11 17:06
| --- | --- | --- | --- | |-------|----------------------------------------------------|-------|-------| | | | | | | | | | | | | | | | | | Amex GBT Q2 2022 Earnings Report August 11, 2022 | | | | | | | | Legal Disclaimer 2 Forward-Looking Statements These slides and the related presentation contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange A ...
Global Business Travel (GBTG) - 2022 Q2 - Earnings Call Transcript
2022-08-11 17:05
Global Business Travel Group, Inc. (NYSE:GBTG) Q2 2022 Earnings Conference Call August 11, 2022 9:00 AM ET Corporate Participants Barry Sievert - Vice President, Investor Relations Paul Abbott - Chief Executive Officer Martine Gerow - Chief Financial Officer Conference Call Participants Lee Horowitz - Deutsche Bank Operator Good morning and welcome to the American Express Global Business Travel Second Quarter 2022 Earnings Conference Call. As a reminder, please note today's call is being recorded. I will no ...
Global Business Travel (GBTG) - 2022 Q2 - Quarterly Report
2022-08-10 16:00
Table of Contents Commission File Number: 001-39576 Global Business Travel Group, Inc. (Exact Name of Registrant as Specified in its Charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Delaware 98-0598 ...
Global Business Travel (GBTG) - 2022 Q1 - Quarterly Report
2022-05-08 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39576 APOLLO STRATEGIC GROWTH CAPITAL (Exact Name of Registrant as Specified in Its Charter) Cayman Islands 98-0598290 (S ...
Global Business Travel (GBTG) - 2021 Q4 - Annual Report
2022-02-28 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-39576 Apollo Strategic Growth Capital (Exact name of registrant as specified in its charter) Cayman Islands 98-0598290 (State or othe ...
Global Business Travel (GBTG) - 2021 Q3 - Quarterly Report
2021-11-09 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39576 APOLLO STRATEGIC GROWTH CAPITAL (State or other jurisdiction of incorporation or organization) 9 West 57th Stre ...