Global Blue Group Holding (NYSE:GB) has released its financial outcomes for the first quarter ended June 30, 2024, showcasing significant growth and financial strength.
The company reported a substantial year-over-year (YoY) revenue increase of 25% to €118 million.
Additionally, its adjusted EBITDA surged by 55% to €43 million compared to the same period last year.
The firm also saw an improvement in its adjusted EBITDA margin, which rose by 7 percentage points to 36.5%.
During the quarter under review, Global Blue reported a 25% YoY growth in tax-free shopping sales-in-store for July, confirming the positive trends for the fiscal year 2024/25.
In line with its optimistic outlook and strong financial health, Global Blue reaffirmed its financial guidance for FY24/25, expecting an adjusted EBITDA of more than €200 million.
Furthermore, the company announced a new $10 million share repurchase program, underscoring its confidence in the company's future performance and its commitment to delivering value to its shareholders.