HBX GROUP ANNOUNCES HALF YEAR 2025 FINANCIAL RESULTS

PR Newswire

PALMA DE MALLORCA, Spain, May 14, 2025

Strong performance with double-digit growth

PALMA DE MALLORCA, Spain, May 14, 2025 /PRNewswire/ -- HBX Group International plc (HBX Group, the Company, the Group, HBX.SM) announces its Half Year 2025 results.

   -- Total Transaction Value (TTV) up 12% to EUR3.4bn, demonstrating continued 
      outperformance versus the global accommodation market 
 
   -- Revenue of EUR319m, up 10%, driven by double-digit growth in travel to 
      Europe and MEAPAC 
 
   -- Adjusted EBITDA of EUR159m, up 14% and Adjusted EBITDA margin of 50%, up 
      2% points 
 
   -- New commercial partnerships signed to deliver future growth in key 
      markets 
 
   -- Listing on the Spanish Stock Exchanges in February, raising EUR725 
      million 
 
   -- Debt refinancing completed in March followed by credit rating upgrades 
 
   -- FY25E revenue guidance widened to EUR740-790m; newly introduced guidance 
      for adjusted EBITDA of EUR430-450m and operating free cash flow cash 
      conversion of c.100% 
 
   -- Retained medium-term outlook, maintaining confidence in our ambition of 
      profitable growth and market outperformance 
 
Financial                  6 months ended       6 months ended 
performance summary         31 March 2025        31 March 2024  Change 
--------------------  -------------------  -------------------  ------ 
Total Transaction 
 Value (TTV) (EURm)                 3,370                3,022    12 % 
Revenue (EURm)                        319                  291    10 % 
Adjusted EBITDA 
 (EURm)                               159                  140    14 % 
margin (%)                           49.8                 48.1  1.7pts 
Net loss (EURm)                     (227)                (122)    86 % 
Loss per share $(EUR.AU)$               (1.15)               (0.68)    69 % 
 
Operating free cash 
 flow (EURm)                        (117)                 (97)    21 % 
cash conversion 
(last 12 months) 
(%)                                   107                  n/a     n/a 
 
                              31 Mar 2025         30 Sept 2024  Change 
--------------------  -------------------  -------------------  ------ 
Adjusted net debt 
 (EURm)                               807                1,285   -37 % 
Annualised(1) Adj 
 net debt/ Adj 
 EBITDA x                            1.9x                 3.2x  (1.4x) 
 (1) Annualised LTM based on last 12 month Adj EBITDA. See financial 
 statements for definitions of specific financial terms and KPIs, 
 including any Alternative Performance Measures (APMs) 
Company Guidance                     FY25          Mid-term(1) 
                                                   (unchanged) 
-------------------  --------------------  ------------------- 
TTV                   10%-16% (unchanged)     Low double digit 
                                                          CAGR 
Revenue                   EUR740m-EUR790m    High single digit 
                                (widened)                 CAGR 
Adj. EBITDA               EUR430m-EUR450m             Low 60s% 
                                    (new) 
Op FCF conversion            c.100% (new)               c.100% 
 
 
(1) Mid-term is based on FY27, CAGR 3 years from FY24-FY27 
 

Outlook

The strong start to the year was in line with our expectations and reflected good execution and market outperformance. Since the beginning of April, trading has remained resilient, broadly in line with first half performance supported by strong long lead time bookings. At the same time, the more volatile macroeconomic environment has led to slightly lower visibility for summer bookings. As a consequence, the range of potential revenue outcomes for FY25E is wider and FY25E revenue guidance is updated to EUR740-790m. Guidance has been introduced for Adj. EBITDA (EUR430-450m) and operating free cash flow conversion (c. 100%, in line with our mid-term guidance), reflecting actions we are taking to deliver profitability and cash generation in a less predictable market environment. Our Mid-term outlook is unchanged. Our strong value proposition, compounded by the long-term positive spending trends underpinning the travel and leisure market, gives us confidence for the future.

For the full press release and disclaimer applicable to this information, please visit www.investors.hbxgroup.com.

About HBX Group

HBX Group is a leading independent B2B travel technology marketplace that owns and operates Hotelbeds, Bedsonline and Roiback. We offer a network of interconnected travel tech products and services to partners such as Online Marketplaces, tour operators, travel advisors, airlines, loyalty programs, destinations and travel suppliers.

Our vision is to simplify the complex and fragmented travel industry through a combination of cloud-based technology solutions, curated data, and an extensive portfolio of products designed to maximise revenue. HBX Group is present in 170 countries and employs more than 3,600 people around the globe. We are committed to making travel a force for good, creating a positive social and environmental impact.

HBX Group International PLC (HBX.SM) is listed on the Spanish stock exchanges (ISIN: GB00BNXJB679).

Media contact:

media@hbxgroup.com

hbx@brunswickgroup.com

View original content:https://www.prnewswire.com/news-releases/hbx-group-announces-half-year-2025-financial-results-302455083.html

SOURCE HBX Group

(END) Dow Jones Newswires

May 14, 2025 04:22 ET (08:22 GMT)