Filing Flows › Global Business Travel Group (GBTG) › Q1 2025
Global Business Travel Group (GBTG) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
Global Business Travel Group (GBTG) reported revenue of $621M for the first quarter 2025 (Q1 2025), +2% from a year earlier and +5% from the quarter before. Operating margin was 8.9%, net earnings $75.0M (12.1% of revenue).
Global Business Travel Group, Q1 2025: revenue $621M (+2% year over year), operating margin 8.9%, net earnings $75.0M, operating cash flow $53.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $621M | +5% | +2% |
| Operating profit | $55.0M | +83% | +244% |
| Net earnings | $75.0M | — | — |
| Operating cash flow | $53.0M | -18% | +8% |
| Free cash flow | $26.0M | — | +8% |
What changed
Revenue was $621.0M in Q1 2025, up 2% year over year and up 5% from the previous quarter. Travel revenue was the largest line at 80% of revenue. Travel revenue added $7.0M year over year (up 1%), 64% of the total change.
Operating profit was $55.0M, a 8.9% margin (up 6.2 points year over year). Of the extra revenue versus a year earlier, 355% reached operating profit, above the 3% margin then. Total costs fell 5% while revenue rose 2%. Net earnings were $75.0M. The effective tax rate was 21.9%. Non-operating items added $41.0M, 43% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $53.0M (up 8% year over year), 71% of net earnings. Non-cash charges added back $40.0M of depreciation and amortization and $19.0M of share-based compensation. Working capital and other items used $81.0M. After purchase of property and equipment ($27.0M), free cash flow as the company reports it was $26.0M.
Questions
What was Global Business Travel Group's revenue in the first quarter 2025?
Global Business Travel Group (GBTG) reported revenue of $621M for the first quarter 2025 (Q1 2025), +2% from a year earlier and +5% from the quarter before.
Was Global Business Travel Group profitable in the first quarter 2025?
Operating profit was $55.0M (8.9% of revenue) and net earnings $75.0M.