Global Blue reports Q1 adjusted EBITDA EUR 27.8M vs. EUR 6.8M last year

Reports Q1 revenue EUR 94.5M vs. EUR 56.1M last year. CEO Jacques Stern commented: “We are pleased to report a strong start to our financial year, with 68% YoY growth in Revenue and 300%+ YoY growth in Adjusted EBITDA in Q1 FY23/24, such that annualizing the quarter implies Adjusted EBITDA of EUR 141m. We have positioned the business to outperform the ongoing international travel recovery, particularly thanks to our key investments in digitalization and growth businesses, and continued cost management Our focus on continuing to digitalize the tax free shopping journey is driving a better experience for merchants, international shoppers, and all other stakeholders in the ecosystem; this is also delivering demonstrable financial benefits to Global Blue and supporting new merchant wins, allowing us to maintain our leadership position. More recently, our investment in our Added Value Payment Solutions and Retail Tech Solutions, to increase relevance to retailers / acquirers and introduce exposure to domestic shoppers, are getting more traction.”