GBTG posts record Q1 EBITDA; agrees to acquire CWT for $570M

Global Business Travel Group, Inc.

Q1 revenue $610M (+6% YoY); record Q1 Adjusted EBITDA $123M (+24% YoY).
Reiterated full-year 2024 revenue and Adjusted EBITDA guidance ranges.
Definitive agreement to acquire CWT for $570M (2.5x EBITDA, including $155M synergies).
LTM total new wins value $3.3B; 96% customer retention; share gains continue.
Positive Q1 free cash flow $24M; leverage ratio lowered to 2.2x.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Global Business Travel Group, Inc. reported the first quarter ended March 31, 2024 results: revenue $610 million. Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $610 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

March 31, 2024. First Quarter 2024 Highlights Delivered Strong Financial Results • TTV grew 9% year-over-year (10% workday adjusted 1 ). • Revenue grew 6% year-over-year to $610 million (7% workday adjusted 1 ). • Record first-quarter Adjusted EBITDA of $123 million, representing growth of 24%. • Reiterated full-year 2024 revenue and Adjusted EBITDA guidance

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Source: SEC EDGAR

accession 0001820872-24-000022

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