Hbx Group International Plc · BME:HBX
Hbx Group International — HBX Group — Investor Presentation (August 2026)
51 slides from Hbx Group International's investor presentation, Aug 1, 2026
Slide 1: A major global B2B traveltech company
A major global B2B traveltech company C Investor presentation 1
Slide 2: HBX Group is a major global B2B traveltech company
HBX Group is a major global B2B traveltech company High -quality inventory with vast Long -standing relationships supplier network > with travel distributors Accommodation > > > c.60k c.100k > Distribution Partners (1) Connecting and Directly contracted hotels (1,2) empowering the world of leisure t
Slide 3: Strategically positioned in the fragmented accommodation market
Strategically positioned in the fragmented accommodation market 500k+ 400k+ Final Accommodation B2B Distributors (1) B2C Distributors Consumer Suppliers (1) Large OTAs mainly direct sourcing Large Independent B2B Travel Marketplaces Other OTAs hybrid sourcing Global chains Other Fast Growing B2C Dis
Slide 4: Market dynamics
Market dynamics Operating in a large structurally growing market with short -term volatility Market growth (Evolution of accommodation global TTV from 2017 to 2030 ) FY ‘25 market trends Resilient growth in travel and tourism driven by global economic growth and +4% consumer spending trends CAGR Hig
Slide 5: HBX Group value proposition
HBX Group value proposition 01 Leading independent (1) player connecting and empowering the world of travel with a successful track record and significant growth opportunities 02 Operating in the large, fragmented, structurally high -growth leisure travel sector 03 Scalable proprietary technology pl
Slide 6: A market leader with a successful track record
01 A market leader with a successful track record From in -house accommodation intermediary to a leading global independent (1) B2B travel marketplace 2005 – 2015 2016 – 2019 2020 – 2024 TTV ( € bn )(2) Integration period 6.9 7.7 5.0 FY05 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 (Sponsors (
Slide 7: Large, fragmented, structurally high-growth travel market
02 Large, fragmented, structurally high -growth travel market Where we play Market size Market CAGR Key sector drivers ▪ Highly attractive travel and tourism industry, representing Accommodation (1) €267bn +6% c.10% of global GDP and expected to outgrow GDP by 2x (5) ▪ Structural increases in income
Slide 8: Best-in-class technology platform and data analytics
03 Best -in -class technology platform and data analytics HBX Group has undergone a technological transformation, moving to a modern, cloud -native, agile, lean and scalable platform Technology platform rebuilt in 2023 enhancing sales intensity and improving execution 7.8bn Daily searches (1,2) Sing
Slide 9: Track record of financial performance
04 Track record of financial performance TTV Revenue €m 38% 12% 7% €m 8.7% 9.6% 9.0% 8.8% 7,667 8,178 720 6,860 656 693 4,977 434 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 TTV growth (%) Revenue % over TTV (take rate) Mid -term target: low double digit growth (constant fx ) Mid -term target: high sing
Slide 10: Well-defined strategy to grow and create value
05 Well -defined strategy to grow and create value Drive profitability Expand the ecosystem ▪ Enhance pricing and content capabilities leveraging data & AI Grow in accommodation ▪ Maximise cross -selling across ▪ Evolve commercial position with ▪ Acquire new customers and our ecosystem (Mobility & h
Slide 11: Company overview
Company overview BEESBBB Ree
Slide 12: Seamlessly connecting global supply and demand across our product lines
Seamlessly connecting global supply and demand across our product lines Mobility & Fintech & Accommodation Hoteltech Experiences Insurance Trusted B2B partner connecting a high - Technological platform for hotels that Worldwide B2B distribution of travel Services include payment pay -in / pay -out,
Slide 13: Highly diversified supplier and distribution network
H ighly diversified supplier and distribution network, paired with increasingly diversified portfolio of high -growth products TTV - Supplier breakdown TTV – Distributor archetype Group TTV by Geography Destination market 5,0% 17,0% 20,0% 13,0% 33,0% 41,0% 12,0% 51,0% 22,0% 16,0% 29,0% 22,0% 19,0% R
Slide 14: HBX Group's value proposition to suppliers
HBX Group's value proposition to suppliers Suppliers (hotels) Value drivers What HBX Group delivers 01 Largest independent distribution network ▪ HBX Group enables ▪ Large share of hotels to access directly the largest network of high value distributors high value distributors , who are harder to re
Slide 15: HBX Group's value proposition to distribution partners
HBX Group's value proposition to distribution partners Travel distributors Value drivers What HBX Group delivers 01 Global, directly contracted and ▪ Connection to a global network of 250k+ hotels in 170+ markets via our highly scalable platform (1) competitive network of hotels ▪ Large portfolio of
Slide 16: HBX Group has expanded further into the travel ecosystem
HBX Group has expanded further into the travel ecosystem Mobility & Experiences Fintech & Insurance Hoteltech Seamless travel solutions - offering services such as pay -in/pay - Under the Roiback brand, HBX including theme parks, out, FX, cash advances, virtual credit Group supports around 2,000 mus
Slide 17: Opportunities for growth in adjacent areas
Opportunities for growth in adjacent areas Gaining share of wallet through four axes of …with very significant upside improvement… €44bn +13% Mobility & Experiences 2023A -2027E addressable market CAGR Product expansion Cross -sell ecosystem Geographical inventory expansion in Leverage accommodation
Slide 18: Next-generation microservices architecture with high performance outcomes
HBX Group today runs on a next -generation, micro -services architecture with high performance outcomes Architecture which connects supply (products) with distribution partners in high performance connectivity at 99%+ availabilit y Distribution partners ▪ Cloud -native, high availability application
Slide 19: Advanced data and analytics capabilities generate value
Advanced data and analytics capabilities generate value for distribution partners and HBX Group Leveraging superior data capabilities, HBX Group helps distribution partners enhance their business performance by focusing o n 3 core areas: Competitiveness Search data Distribution partners’ data By sca
Slide 20: Strategic priorities
Strategic priorities 1001010 BEBE 2
Slide 21: Well defined strategy to grow and create value built on strong foundations
Well defined strategy to grow and create value built on strong foundations Durable business model delivering long -term value and growth Grow in Expand the Drive accommodation ecosystem profitability Our strong foundations Strong direct Robust, scalable Deep market Ecosystem value Extensive global c
Slide 22: Priorities for continued success
Priorities for continued success Renewed strategic focus to accelerate growth and secure market leading position Enhance Customer -centric and agile approach to drive growth execution Deliver ecosystem Drive increased contribution from ancillary products and services growth Accelerate Leverage AI to
Slide 23: Evolving our organisation to get even closer to our customer
Evolving our organisation to get even closer to our customer Vertical structure and changes to the management team A more agile and customer -centric verticalised operating model Mobility & Sourcing Distribution Fintech Hoteltech Experiences Autonomous cross -function teams in each vertical Business
Slide 24: A more agile and customer-centric approach to Sourcing
A more agile and customer -centric approach to Sourcing Sourcing transformation to focus on operational excellence and customer -centric improvements Hotels need distribution partners Transformative actions • Flat organisation to drive speed and Increase distribution reach accountability • Leverage
Slide 25: A more agile and customer-centric approach to Distribution
A more agile and customer -centric approach to Distribution Distribution reenergised with fresh focus on high growth segments and top clients Wholesale Retail Tour Niche Loyalty Independent Global OTAs Regional OTAs operators opportunities Airlines programmes Consortia Large TA’s TA’s Micro TA’s Lux
Slide 26: Driving growth in ancillary services and products
Driving growth in ancillary services and products Drive growth by expanding cross -selling throughout the ecosystem • Drive near -term commercial actions targeted on high -value clients Transforming • Focus on cross -selling supported by dynamic packaging to increase attachment rates Mobility & Expe
Slide 27: Artificial Intelligence to automate, accelerate and augment
Artificial Intelligence to automate, accelerate and augment An engine for growth AUTOMATION APPLY AI ACROSS OUR BUSINESS Simplifying processes to drive productivity Ready and increase focus on now AI Package personalisation through natural value -add tasks language requests in The Luxurist Algorithm
Slide 28: AI Case Studies
AI Case Studies Clear execution progress across automation, acceleration and growth Automation Acceleration Augmentation Removing friction in the full travel Turning massive travel data into real- Unlocking new growth through hyper- lifecycle from beginning to end time, actionable intelligence perso
Slide 29: Accelerating change with corporate development actions
Accelerating change with corporate development actions Expanding the ecosystem by partnering with high growth, innovative category leaders INCREMENTAL GROWTH FROM CORPORATE DEVELOPMENT • Accelerate market entry • Expand customer base and enhance competitive positioning • Access new talent, capabilit
Slide 30: Navigating Structural Change in Accommodation
Navigating Structural Change in Accommodation A clear strategy, aligned with market dynamics to drive value creation Market dynamics shaping accommodation: HBX is positioned for relevance and scale: Benefits from secular growth tailwinds , alongside AI -enabled operating model creating competitive i
Slide 31: Proven Track Record Supporting Confidence in the Next Phase of Growth
Proven Track Record Supporting Confidence in the Next Phase of Growth Core strengths with a proven ability to deliver value at scale Fast topline growth Scalable business model Proven ecosystem success Financial firepower Outperforming market TTV Strengthened model’s Materially scaled ecosystem Stro
Slide 32: Executing the Strategic Building Blocks
Executing the Strategic Building Blocks Tangible progress across ecosystem expansion, AI and growth initiatives Strengthen the value proposition Evolve with AI +2 >120 Verticalised New product and Use cases identified capability launches 1 operating +8 Agents model Embedded across the organisation I
Slide 33: Building the B2B Partner of Choice
Building the B2B Partner of Choice A scaled business, broader ecosystem and AI -enabled operating model From a To a scaled, AI -enabled pure -play leader fully integrated ecosystem Leading distribution network Value Accommodation -led Value increasingly created through scale, creation technology, da
Slide 34: Financial Performance and Outlook
Financial Performance and Outlook 34
Slide 35: H1'26 Strategic Progress
H1’26 Strategic Progress Executing with progress across growth, ecosystem expansion and returns GROW EXPAND DRIVE PROFITABILITY & ACCOMMODATION THE ECOSYSTEM CASH RETURNS APAC supply expansion: Platforms and capabilities: Enablement and productivity: ▪ Expanded Traveloka partnership, a ▪ Queer Desti
Slide 36: FY25 Financial Results: Delivering Profitable Growth
FY25 Financial Results: Delivering Profitable Growth Solid financial results with growth and deleveraging Total Transaction Value (TTV) Adjusted EBITDA € 8.2 billion € 431 million 8% growth (constant currency) 10% growth (constant currency) 60% margin (57% FY ‘24) Revenue Adjusted Net Debt € 720 mil
Slide 37: FY25 Financial Results: Income Statement Summary
FY25 Financial Results: Income Statement S ummary Key highlights KPIs FY25 FY24 Change Change constant currency ▪ Revenue at €720m, up 5% at constant currency TTV €8,178m €7,667m +8% +7% with strong growth in the first half slowing down in the third and fourth quarters Take rate 8.8% 9.0% -0.2ppt -0
Slide 38: FY25 Financial Results: Costs and Costs Actions
FY25 Financial Results: Costs and Costs Actions Adjusted operating cost base ( €m) Cost discipline and efficiency Growth 288 ▪ Total operating costs of €267m, down 7% YoY. Broadly flat adjusted for 267 the reduction in variable remuneration (49 %) ▪ Commercial costs up 2% , reflecting reorganisation
Slide 39: H1'26 Results: Strong Balance Sheet and Disciplined Deleveraging
H1’26 Results: Strong Balance Sheet and Disciplined Deleveraging Continued Net Debt reduction, with Adj. Net Debt / Adj. EBITDA at 1.7x €m Decrease Increase Totals 807 741 139 639 602 12 23 12 10 28 242 120 397 (1) Adjusted Adjusted Working Net debt Operating Income Net interest Purchase of Capex FX
Slide 40: Capital allocation priorities
Capital allocation priorities Investing for continued growth and success Consistent • Invest to enhance products, further develop technology capabilities and target organic commercial development opportunities investment • Targeting total technology spend of 10 -12% of revenues on average Selective
Slide 41: H1'26: Strong Financial Profile Supports Continued Investment and Returns
H1’26: Strong Financial Profile Supports Continued Investment and Returns High cash generation supports investment in growth and shareholder returns 103% Adj. free cash flow conversion (last 12 months) Disciplined capital allocation Investing for growth Strong financial position Capital returns ▪ Co
Slide 42: Outlook and Financial Targets
Outlook and Financial Targets Presented at H1’26 Financial Results Constant FY25 FY26 1 Medium -term currency €8,178m +13% to +15% Low double -digit TTV 8% YoY growth YoY growth growth €720 m High -single digit -2 % to +0 % Revenue 5% YoY growth YoY growth growth Take rate 8.8% Adjusted €431m -5% to
Slide 43: Appendix
Appendix BEEBE EB HE HEE 43
Slide 44: TTV and Revenue by Region by Quarter FY26
TTV and Revenue by Region by Quarter FY26 TTV ( €m) Q1‘26 Q2’26 H1‘26 Q 3’26 Group total 2,023 1,747 3,770 2,481 - Europe 925 646 1,571 1,324 - Americas 618 635 1,253 721 - MEAPAC 480 466 946 373 Revenue ( €m) Q1‘26 Q2’26 H1‘26 Q 3’26 Group total 170 139 309 177 - Spain 18 15 33 24 - Rest of Europe
Slide 45: TTV and Revenue by region by quarter FY25
TTV and Revenue by region by quarter FY25 TTV ( €m) Q1‘25 Q2’25 H1‘25 Q3’25 Q4’25 H2‘25 FY25 Group total 1,810 1,560 3,370 2,176 2,632 4,808 8,178 - Europe 829 561 1,390 1,211 1,619 2,830 4,220 - Americas 562 569 1,131 597 635 1,232 2,363 - MEAPAC 419 430 849 368 378 746 1,595 Revenue ( €m) Q1‘25 Q2
Slide 46: H1'26 Financial Results: Deep Dive on the Middle East
H1’26 Financial Results: Deep Dive on the Middle East Impact in H1, -1ppt at constant currency, with an expected FY26 impact of -4ppts on the Group FY25 March + April ‘26 TTV contribution 1 TTV YoY change 1 Observations Middle East 4% -75% ▪ Trading was materially impacted in March and April, with l
Slide 47: Structurally negative net working capital cycle
Structurally negative net working capital cycle represents an incremental and sustainable source of cash Accommodation revenue model Revenue is accrued at check -in 1 2 Check -in If cancellation Nothing happens Traveller books trip with distributor and Traveller check in at the hotel (check -in trig
Slide 48: Accommodation business model based on take rate per room night
HBX Group’s accommodation business model is based on take rate per room night Illustrative figures Price seen by traveller - €100 ROOM NIGHT ROOM NIGHT ROOM NIGHT Discounted c.20% Discounted c.10% Full Price Distribution €100 Traveller Hotel €80 €90 partner Share for HBX Group receives a discount fr
Slide 49: Glossary
Glossary Financial term Definition Operating Profit before depreciation and amortisation and after adding back non -underlying and non -recurring items which do not reflect the Adjusted EBITDA underlying performance of the business Adjusted EBITDA Margin Adjusted EBITDA divided by Revenue. Adjusted
Slide 50: Important Information
IMPORTANT INFORMATION Disclaimer: This regulatory announcement contains information that HBX Group plc is required to disclose under applicable market regulati ons , including Regulation (EU) No 596/2014 of the European Parliament and the Council of 16 April 2014, on market abuse, and Law 6/2023, of
Slide 51: Contact us
Contact us FOLLOW US WEBSITE INVESTORS’ RELATIONS CONTACT DETAILS https://investors.hbxgroup.com/ https://investors.hbxgroup.com/ Isabel Green Christopher J. Gordon INVESTOR RELATIONS DIRECTOR INVESTOR RELATIONS OFFICER +44 7826 910691 +34 647 409 310 Download this document igreen@hbxgroup.com cgord