Global Business Travel Group, Inc. has recently released its 10-K report for the fiscal year ended December 31, 2023, providing a comprehensive overview of the company's financial performance and operations. The company operates as a leading business-to-business (B2B) travel platform, offering a range of technology-enabled solutions to business travelers, clients, travel content suppliers, and third-party travel agencies. Global Business Travel Group, Inc. is headquartered in New York, New York.
In the 10-K report, under "Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations," Global Business Travel Group, Inc. highlights key factors affecting its results of operations. The company emphasizes its focus on the business travel sector, catering primarily to business clients who require travel for business needs and meetings. It also outlines its monitoring of key operating and financial metrics to evaluate its business, measure performance, identify trends, and make strategic decisions.
The report provides specific figures for the year ended December 31, 2024, compared to the previous year, showcasing the company's financial performance. Total Transaction Value (TTV) increased by $2,285 million, or 8%, primarily due to transaction growth and an increase in average transaction price driven by higher ticket prices, international transactions, and higher hotel room rates. Transaction Growth for the same period was 5%, attributed to share gains and increased demand for business travel from clients, with strong performance in the global multinational customer base offsetting slower growth in the small and medium enterprise customer base.
Additionally, the report introduces non-GAAP financial measures such as EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted Operating Expenses. These measures are presented as supplemental information to provide a better comparison of the company's performance across periods. For the year ended December 31, 2024, Adjusted EBITDA was $478 million, reflecting a 26% increase from the previous year, while Adjusted EBITDA Margin was 20%, representing a 310 basis point improvement. Adjusted Operating Expenses totaled $1,948 million, reflecting a 2% increase from the previous year.
As a result of these announcements, the company's shares have moved 1.1% on the market, and are now trading at a price of $8.07. For the full picture, make sure to review Global Business Travel's 10-K report.
