LONDON, May 13, 2026 /PRNewswire/ — HBX Group International plc (HBX Group, the Company, the Group, HBX.SM) announces its Half Year 2026 results for the six months ended 31 March 2026.
- TTV up +17% to €3.8bn, and Revenue of €309m, up +1% YoY at constant currency, reflecting targeted commercial and strategic actions to prioritise growth and capture market share, partly offset by disruption from the Middle East conflict
- Adjusted EBITDA up +9% at constant currency to €163m, with margin of 53% expanding +4ppts in constant currency. Profit after tax was €28m (H1 25: €(227)m).
- Strong cash generation with 103% cash conversion and leverage at 1.7x Adjusted Net Debt / Adjusted EBITDA. S €100m share buyback programme and a 7.5 cents per share (c.€18m) interim dividend.
- Executing the strategic building blocks, including the acquisition of Bridgify announced today.
- FY26E guidance revised to reflect the impact of Middle East conflict and macroeconomic uncertainty. New FY26 guidance is for constant currency TTV growth +11% to +15%, Revenue growth -4% to +1% and Adjusted EBITDA growth -5% to -2%, and Operating Free Cash Flow conversion between 90% and 100%. Medium-term guidance is unchanged.
First half 2026 Financial Performance Summary1
|
6 months |
6 months |
Change |
Change |
||
|
Total Transaction Value (TTV) (€m) |
3,770 |
3,370 |
+17 % |
+12 % |
|
|
Revenue (€m) |
309 |
319 |
+1 % |
-3 % |
|
|
Adjusted EBITDA (€m) |
163 |
159 |
+9 % |
+3 % |
Delivering profitable growth
Group TTV increased to €3.8bn in the first half, up +17% at constant currency. TTV contribution increased from shorter lead-time bookings, Third Party Supply and Online Travel Agents.
Revenue of €309m, increased +1% in constant currency. Take rate was 8.2%, down 1.3ppts year‑on‑year.
Adjusted EBITDA increased 9%, with margin +4ppts.
Net finance costs were €35m, 77% lower than the prior year. The tax charge was €16m. Adjusted Earnings were €83m, up +44% at constant currency.
Delivering commercial milestones in line with strategy
Commercial progress in H1 2026 reflected HBX Group’s strategy to expand its global travel ecosystem and drive profitability through AI-driven operational efficiency and commercial performance. Key developments included new distribution partnerships in Asia-Pacific, acquisitions such as Bridgify and PerfectStay to strengthen experiences and dynamic capabilities, and new platform and fintech initiatives.
HBX group also continued embedding AI across products and operations, including AI-powered solutions for Bedsonline and HotelTech, while scaling internal AI agents already delivering measurable savings and supporting more than 120 identified use cases, reinforcing the Group’s connected B2B travel ecosystem strategy.
Regional performance and trading dynamics
TTV grew in double-digits in all three regions, up +18% in the Americas and +16% in both MEAPAC and Europe, at constant currency.
In Europe, TTV growth was supported by strong intra‑regional and domestic travel. Asia Pacific up +18%, partly offset by slower growth in the Middle East and disruption on some Europe-Asia corridors. In the Americas, TTV was predominantly driven by domestic demand.
Middle East impact and near‑term outlook
Since late February, the escalation of the conflict in the Middle East has impacted travel demand across affected destinations and selected international corridors, resulting in increased volatility, shorter booking windows and reduced near‑term visibility. The impact of this on H1 Group TTV growth was approximately 1ppt.
HBX Group implemented dynamic pricing, inventory reallocation and active partner support. Demand outside affected corridors has been more resilient.
Cost discipline, cash generation and capital allocation
Underlying operating costs fell by 5%. Performance was supported by productivity initiatives, automation and AI.
On a last 12-month basis, Operating Free Cash Flow was €447m, with cash conversion of 103% over the last 12 months. Adjusted Net Debt at 31 March 2026 stood at €741m.
Outlook
The Group started FY26 with strong performance. Since late February, trading conditions have been adversely impacted by the escalation of the conflict in the Middle East and broader geopolitical uncertainty.
The Group has revised its FY26 guidance. Updated outlook reflects a -4ppt effect of the Middle East conflict on TTV growth. Assumes four months of disruption with gradual stabilisation.
For the complete press release and disclaimer applicable to this information, please visit www.investors.hbxgroup.com
1 See financial statements for definitions of specific financial terms and KPIs, including any Alternative Performance Measures (APMs)
2 Constant currency changes exclude the impact of foreign exchange rate fluctuations by translating current year results at the exchange rates used in the prior year.
Contact:
Clara Truyols
clatruyols@hbxgroup.com
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SOURCE HBX Group
