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Dec 31, 2022
GBTG Q4 2022 Earnings Report
Reported strong financial results for Q4 and full year 2022, exceeding full-year guidance and demonstrating continued SME momentum.
Key Takeaways
American Express Global Business Travel reported strong Q4 and full year 2022 financial results, driven by record new wins, high customer retention, and strong SME segment performance. Revenue increased significantly, and Adjusted EBITDA improved, positioning the company for continued growth in revenue, profitability, and cash flow.
Revenue increased by $240 million, or 84%, compared to the same period in 2021.
Travel Revenue increased by $227 million, or 122%, driven by the Egencia consolidation and transaction growth.
Net loss improved by $137 million due to a decrease in operating loss and a reduction in loss on early extinguishment of debt.
Adjusted EBITDA improved by $144 million, primarily due to revenue growth.
GBTG
GBTG
GBTG Revenue by Segment
Revenue by Segment
Travel Revenue
CapyFin.comProduct & Prof. Services Revenue
CapyFin.com Forward Guidance
In 2023, the company expects to deliver double-digit revenue growth, drive significant margin expansion, and turn Free Cash Flow positive during the year. Looking beyond 2023, the company remains on track to deliver pre-COVID Adjusted EBITDA of approximately $500 million at an 86% revenue recovery, or achievement of $2.4 billion in revenue.
Positive Outlook
- Double-digit revenue growth expected in 2023
- Significant margin expansion expected in 2023
- Free Cash Flow to turn positive during 2023
- On track to deliver pre-COVID Adjusted EBITDA of approximately $500 million
- Targeting $2.4 billion in revenue
Challenges Ahead
- Guidance considers various material assumptions.
- Actual results may differ materially from the guidance due to a number of factors.
- Industry performance under various scenarios is difficult to predict.
- Competition, general business, economic, market and financial conditions are difficult to predict.
- The Company has not provided a quantitative reconciliation of Adjusted EBITDA guidance to forecasted net income (loss) determined under U.S. GAAP.
Revenue & Expenses
Visualization of income flow from segment revenue to net income