Global Blue Reports Strong Q1 FY2425 Financial Results with Continued Revenue Growth
Key Financial Highlights
* YoY revenue growth of 25%, from €94m to €118m * Adjusted EBITDA increased by 55%, to €43m * Revenue growth driven by strong performance in Europe, Middle East, and Africa (EMEA)Global Blue, a leading provider of tax-free shopping solutions for international travelers, announced robust financial results for Q1 of fiscal year 2024/25. The company reported a 25% increase in Group revenue, from €94m in Q1 of FY23/24 to €118m in Q1 of FY24/25.
This revenue growth was primarily driven by a strong performance in the Europe, Middle East, and Africa (EMEA) region. The company attributed this growth to increased travel activity and strong spending by international visitors.
Adjusted EBITDA Growth
In addition to the revenue growth, Global Blue also reported a significant increase in Adjusted EBITDA. Adjusted EBITDA grew by 55% from €28m in Q1 of FY23/24 to €43m in Q1 of FY24/25. This growth was driven by the company's continued focus on cost optimization and efficiency initiatives.
Regional Performance
Europe remained Global Blue's largest market, contributing €59m to the company's revenue in Q1 of FY24/25. The Middle East and Africa (MEA) region also performed well, with revenue increasing by 19% YoY to €12m.
Future Outlook
Global Blue remains optimistic about the future and reiterates its guidance for FY24/25. The company expects Adjusted EBITDA to exceed €200m for the full fiscal year. This is supported by the company's strong performance in Q1 and its continued focus on growth and efficiency.
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