Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
09 August 2024 - 12:07PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of August, 2024
Commission File Number: 001-39477
GLOBAL BLUE GROUP HOLDING AG
(Translation of registrant’s name into English)
Zürichstrasse 38, 8306 Brüttisellen, Switzerland
+41 22 363 77 40
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K
On August 9, 2024, Global Blue Group Holding AG (the "Company") issued a press release, attached as exhibit 99.1 to this Form 6-K, providing a business update on the worldwide Tax Free Shopping growth across Continental Europe and Asia Pacific.
INCORPORATION BY REFERENCE
This Report on Form 6-K and the exhibit hereto shall be deemed to be incorporated by reference into the registration statements on Form F-3 (Nos. 333-259200, 333-267850, 333-274233 and 333-280087) and Form S-8 (No. 333-260108) of the Company and the prospectuses incorporated therein, and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.
EXHIBIT INDEX
| | | | | |
| Exhibit number | Description |
| 99.1 | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: August 9, 2024
GLOBAL BLUE GROUP HOLDING AG
By: /s/ Jacques Stern
Name: Jacques Stern
Title: Chief Executive Officer
Global Blue Releases the Monthly Tax Free Shopping Business Update for July 2024 Signy, Switzerland, August 9, 2024 • Fresh data from Global Blue reveals that the worldwide year-on-year variation in Tax Free Shopping growth remains positive across Continental Europe and Asia Pacific. • Globally, when analyzing the year-on-year variation in Tax Free Shopping growth, the issued Sales in Store like-for-like year-on-year performance reached +25%1 in July 2024 vs. +41%1 in Q2 (April – June 2024). A sustained performance in Continental Europe for international shopping In Continental Europe, the issued Sales in Store growth rate grew by +12%1 in July 2024 vs. last year. This growth was led by a +10%1 increase in the number of shoppers and a +2%1 average spend per shopper. The deceleration in July’s growth rate (+12% in July vs. +19% in Q2) is largely due to France (-2% in July vs. +10% in Q2), where, as expected, the pre-Olympic Games preparations and restrictions had a negative impact on activity in Paris. Regarding origin markets, the positive momentum in issued Sales in Store growth is evident across all nationalities. Mainland Chinese Tax Free Spend led with +33%1 vs. last year, a slight acceleration compared with the +31%1 progression in Q2. US Tax Free Spend saw a +15%1 increase, boosted by an increase of +20% in shoppers, while GCC shoppers experienced a +7%1 growth rate vs. 2023. When examining destination markets, July showed a positive performance across most destinations, with Spain at +25%1, Italy at +19%1, Germany at +10%1 and France at -2%1. 1 Growth rate variation year-on-year (2024 vs. the same period in 2023)
A positive Tax Free spend progression in Asia Pacific In Asia Pacific, the issued Sales in Store growth rate continues to remain very high, reaching +64%1 in July 2024, led by a +49%1 increase in the number of shoppers and a +10%1 average spend per shopper. The deceleration in July’s growth rate (+64% in July vs. +109% in Q2) is partly due to a stronger basis of comparison in July 2023 vs. Q2’23 and the recent strengthening of the Yen against all major currencies, particularly against the Chinese RMB. Regarding origin markets, the positive momentum in issued Sales in Store growth continued across all nationalities. Mainland Chinese Tax Free Spend led with +97%1 boosted by an increase of +107% of Mainland Chinese shoppers. In the meantime, North- East Asia Tax Free Spend grew by +76%1 vs. 2023 and Hong Kong and Taiwan Tax Free Spend experienced a +60%1 growth rate vs. 2023. When examining destination markets, July showed a positive performance across most destinations, with Japan +103%1, South Korea at +44%1, and Singapore at -9%1.
Worldwide Year-on-Year Growth Rate (2024 vs. 2023) Worldwide recovery rate (versus 2019) rate APPENDIX Issued SIS L/L Year-on-Year Growth Destination market weight in Issued SIS 2023 July 2024 CY Q2 2024 CY Q1 2024 France 19% -2% +10% +11% Ita ly 17% +19% +22% +29% Spain 11% +25% +33% +32% Germany 6% +10% +2% +6% Other countries 18% +12% +21% +16% Total Continental Europe 71% +12% +19% +19% Japan 18% +103% +172% +137% Singapore 8% -9% -1% 25% South Korea 2% +44% +60% 110% Total Asia Pacific 28% +64% +109% 97% Total Latin America 1% +16% -2% +9% Total worldwide 100% +25% +41% 40% Issued SIS L/L recovery (in % of 2019) Destination market weight in Issued SIS 2019 July 2024 CY Q2 2024 CY Q1 2024 France 16% 136% 164% 165% Ita ly 17% 146% 156% 123% Spain 10% 162% 164% 151% Germany 9% 75% 80% 65% Other countries 19% 129% 132% 126% Total Continental Europe 71% 133% 143% 128% Japan 14% 344% 327% 232% Singapore 11% 85% 92% 92% South Korea 3% 165% 158% 125% Total Asia Pacific 28% 215% 226% 166% Total Latin America 1% 89% 101% 94% Total worldwide 100% 151% 165% 140%
GLOSSARY - European Non-EU countries include: Shoppers who can reach destination by land transportation or less than a two hour flight. Ex: Swiss, British, Ukraine etc. - Gulf Cooperation Council countries include: Kuwait, Qatar, Saudi Arabia, United Arab Emirates, Bahrain, Oman - North East Asia countries includes: Japan, South Korea - South East Asia countries includes: Indonesia, Thailand, Cambodia, Philippines, Vietnam, Malaysia, Singapore MEDIA CONTACTS Virginie Alem – SVP Marketing & Communications Mail: valem@globalblue.com INVESTOR RELATIONS CONTACTS Frances Gibbons – Head of Investor Relations Mob: +44 (0)7815 034 212 Mail: fgibbons@globalblue.com ABOUT GLOBAL BLUE Global Blue is the business partner for the shopping journey, providing technology and services to enhance the experience and drive performance. With over 40 years of expertise, today we connect thousands of retailers, acquirers, and hotels with nearly 80 million consumers across 53 countries, in three industries: Tax Free Shopping, Payments and Post-Purchase solutions. With over 2,000 employees, Global Blue generated €28bn Sales in Store and €422M revenue in FY 2023/24. Global Blue is listed on the New York Stock Exchange. For more information, please visit www.globalblue.com Global Blue Monthly Intelligence Briefing, July 2024, Source: Global Blue
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