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Global Blue Group Holding AG (symbol: GB) is a leading provider of Tax Free Shopping and payment solutions, catering to international travelers and retailers worldwide. The company facilitates millions of tax-free purchases every year, allowing tourists to reclaim VAT on eligible goods bought during their travels. In addition to tax refunds, Global Blue offers Currency Choice, a service that enables travelers to pay in their home currency, enhancing financial control and security.
Global Blue integrates its services seamlessly at points of sale through state-of-the-art technology, ensuring a smooth and efficient shopping experience. The company's mission is to become the go-to brand for all aspects related to international shopping, striving to build trust and recognition among shoppers and merchants alike.
With operations in over 50 countries, Global Blue connects a vast network of retailers, acquirers, and hotels to nearly 80 million consumers across three main industries: Tax Free Shopping, Payments, and Post-Purchase Solutions. These services streamline the shopping and payment journey for tourists, providing added value to all stakeholders involved.
Global Blue's extensive marketing efforts help communicate the brand's value proposition to potential customers even before they start their journey. The company aims to represent retailers globally while guiding shoppers through a seamless international shopping experience. Whether in Buenos Aires or Singapore, Global Blue is dedicated to enhancing the shopping experience for international travelers.
In recent years, Global Blue has focused on expanding its service offerings and technological capabilities to better serve its clients. The company's commitment to innovation and customer satisfaction has solidified its position as a leader in the industry.
Global Blue has released the monthly Tax Free Shopping business update for April 2024, showing a global dynamic recovery in Tax Free Shopping across Continental Europe and Asia Pacific. The recovery rate accelerated globally to 153% in April 2024 compared to 2019, exceeding Q1 2024's 140%. Continental Europe saw a recovery rate of 137% in April compared to 128% in Q1 2024, with strong performances in Spain, France, and Italy. While the US shopper recovery accelerated to 336%, the GCC recovery was negatively impacted by the Ramadan period, dropping to 198%. In Asia Pacific, the recovery rate hit a record level of 194% in April, driven by Japan and South Korea. Mainland Chinese shoppers saw a recovery rate of 112% globally and 158% in Asia Pacific in April.
Global Blue Group Holding AG (NYSE: GB) has shown a strong recovery with decreased net leverage, aiming for further reduction, leading to a repricing of its term loan and revolving facility. The interest rates for both facilities are set to decrease, enhancing the Company's financial position.
Global Blue Group Holding AG (NYSE: GB) will release its financial results for the fiscal year ended March 31, 2024, on June 5, 2024. The results will include Management's Discussion and Analysis, Financial Statements, and an investor presentation. CEO Jacques Stern and CFO Roxane Dufour will provide commentary. Access the materials on the company's Investor Relations website.
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