---
schema_version: "secwatch.filing_event.v1"
accession: "0001820872-24-000022"
form_type: "8-K"
ticker: "GBTG"
cik: "0001820872"
company_name: "Global Business Travel Group, Inc."
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T19:46:02.228466+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001820872-24-000022
- form_type: 8-K
- ticker: GBTG
- cik: 0001820872
- company_name: Global Business Travel Group, Inc.
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1820872/000182087224000022/0001820872-24-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1820872/000182087224000022/gbtg-20240507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001820872-24-000022
- JSON: https://secwatch.observer/filing/0001820872-24-000022.json
- Plain text: https://secwatch.observer/filing/0001820872-24-000022.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820872/000182087224000022/0001820872-24-000022-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.