Global Blue AG(US:GB)2024-11-22 18:35Financial Performance - H1 FY24/25 - Global Blue achieved strong YoY growth in H1 FY24/25, with revenue increasing by 20% to €250 million[8, 66] - Adjusted EBITDA increased by 36% to €102 million, resulting in a 407% Adjusted EBITDA margin[8, 70, 71] - The company saw a strong improvement in H1 Adjusted EBITDA margin of 46pts to 407% with a 64% drop-through[8, 71] - LTM Adjusted EBITDA accelerated to €175 million, compared to €164 million in the previous quarter[8] Financial Performance - Q2 FY24/25 - Adjusted EBITDA increased by 25% YoY, with a 62% drop-through[18, 28] - Group Revenue increased by 17% to €1320 million[24] Tax Free Shopping (TFS) - Tax Free Shopping solutions revenue grew by approximately 25%, with contribution growth of approximately 27%[79] - Europe TFS revenue reached €1620 million with 209% growth, while APAC TFS revenue reached €310 million with 487% growth[81] Payments - Payments revenue increased by approximately 16% with contribution growth of approximately 13% in Q2 FY24/25[41] - Payments revenue increased by approximately 12% with contribution growth of approximately 9% in H1 FY24/25[83] Guidance and Outlook - The company's financial guidance for FY24/25 is an Adjusted EBITDA of €185 million - €205 million[8, 147] - The share buy-back program was increased from $10 million to $15 million and extended until November 2025[8]