Global Business Travel Group, Inc. (GBTG) reported a total transaction value (TTV) of approximately $30.5 billion for the fiscal year ending December 31, 2024, resulting in revenues of $2.42 billion. This marks a 6% increase in revenue compared to $2.29 billion in 2023. The company experienced a net loss of $134 million, a slight improvement from a net loss of $136 million in the previous year. Adjusted EBITDA rose to $478 million, reflecting a 26% increase from $380 million in 2023, with an adjusted EBITDA margin of 20%, up from 17% the prior year.
The company noted significant operational changes, including a 5% increase in transaction growth, which was attributed to a strong performance from its global multinational customer base, despite slower growth in the small and medium enterprise (SME) segment. GBTG's customer retention rate remained high at 97%, with the average tenure of its top 100 clients being approximately 15 years. The company also reported that 85% of bookings were made through digital channels, indicating a strong shift towards online engagement.
Strategically, GBTG has been active in expanding its capabilities through acquisitions and partnerships. The company completed the acquisition of Egencia from Expedia Group, which enhanced its digital-first offerings. Additionally, GBTG is in the process of merging with CWT Holdings, Inc., a move that is expected to further strengthen its market position. However, the merger is subject to regulatory approvals, and the U.S. Department of Justice has filed a lawsuit seeking to block the merger, which could impact the anticipated benefits.
As of December 31, 2024, GBTG employed over 18,000 people across 31 countries, with a proprietary presence in regions representing approximately 88% of global business travel spend. The company reported a decrease in net debt to $848 million, down from $886 million in 2023, and maintained a strong liquidity position with $536 million in cash and cash equivalents. Looking ahead, GBTG aims to capitalize on growth opportunities in the SME segment and continue enhancing its technology platform to drive operational efficiencies and improve customer experiences.
About Global Business Travel Group, Inc.
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