Spain's HBX lifts low end of transaction value guidance
HBX Group Updates Transaction Value and Revenue Guidance Amid Travel Recovery
By Gemma Guasch
July 29 (Reuters) - Spanish travel technology firm HBX Group raised the lower end of its guidance range for total transaction value on Wednesday, as a gradual recovery in previously disrupted travel corridors led to a slightly better third-quarter performance than it had expected.
Background: Previous Guidance and Market Challenges
HBX had trimmed its full-year guidance in May, warning the conflict in the Middle East was impacting travel routes and prompting travellers to reconsider their bookings in the region.
Bookings Momentum and Outlook
"Bookings momentum is encouraging and reinforces confidence in the outlook," HBX said in a statement.
Updated Financial Outlook
Total Transaction Value Forecast
The group expects its total transaction value to grow between 13% and 15% this year, versus 11% to 15% previously.
Revenue Range Adjustment
It also narrowed its revenue range for the year to between 0% and -2%, instead of the earlier forecast of -4% to +1%.
Impact of Middle East Conflict
The changes reflect an estimated negative full-year impact of 3 percentage points from the Middle East conflict, an improvement compared to the previous 4-point estimate.
Third-Quarter Performance and Strategic Initiatives
HBX reported a 12% jump in its third-quarter total transaction value to €2.4 billion ($2.7 billion), also helped by resilient leisure travel demand and targeted commercial actions.
CEO Statement on Growth Drivers
“Growth reflected our clear strategy and focus on execution, supported by strategic partnerships, ecosystem expansion and the increasing deployment of AI across the organisation,” CEO Nicolas Huss said.
($1 = 0.8772 euros)
(Reporting by Gemma Guasch; Editing by Milla Nissi-Prussak)