Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
March 07 2024 - 6:02AM
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 March 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 Form 20-F or Form 40-F.
INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K
On March 7, 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 continuation of the dynamic recovery of Tax Free Shopping ("TFS") across Continental Europe and Asia Pacific.
INCORPORATION BY REFERENCE
This Report on Form 6-K and the exhibits hereto shall be deemed to be incorporated by reference into the registration statements on Form F-3 (Nos. 333-259200, 333-267850, and 333-274233) 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incorporated therein, and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.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: March 07, 2024
GLOBAL BLUE GROUP HOLDING AG
By: /s/ Jacques Stern
Name: Jacques Stern
Title: Chief Executive Officer
1 GLOBAL BLUE RELEASES THE MONTHLY TAX FREE SHOPPING BUSINESS UPDATE FOR FEBRUARY 2024 Signy, Switzerland, March 7, 2024 New data from Global Blue reveals that the global dynamic recovery for Tax Free Shopping remains strong across Continental Europe and Asia Pacific. Globally, issued Sales in Store like-for-like recovery reached 141% 1 in February 2024 compared to the same period in 2019, vs. 135%1 in January ’24. A steady worldwide recovery, compared to 2019 levels In Continental Europe, the recovery strengthened, reaching 132%1 in February vs. 125%1 in January, fueled by a strong recovery in France (174%1), Spain (134%1) and Italy (131%1). In terms of origin markets, GCC shoppers benefited from the seasonal shift of the pre- Ramadan shopping acceleration, reaching 404%1 recovery in February vs. 273%1 in January. US shoppers also recorded a strong recovery rate this month, at 316%1 vs. 290%1 in January. In Asia Pacific, the recovery rate remains strong at 159%1 in February vs. 161%1 in January, led by Japan (229%). The implementation of the Visa-Free policy for Chinese travelers in Singapore is showing the first signs of a positive impact, with a recovery reaching 74%1 in February vs. 62%1 in January. Regarding origin markets, travelers from Hong Kong and Taiwan continue to lead the recovery, reaching 525%1 in February vs. 426%1 in January. Following behind are North East Asia travelers, with a recovery rate of 305%1 in February vs. 242%1 in January. In terms of Mainland Chinese shoppers, the worldwide issued Sales in Store like-for-like recovery reached 98%1 in February vs. 104%1 in January. Within Continental Europe, Mainland Chinese shopper recovery reached 71%1 in February, slightly below January levels at 80%1, due to the 2019 Lunar New Year high basis of comparison. In Asia Pacific, Mainland Chinese shopper recovery remains strong, reaching 121%1 in February vs. 127%1 in January. 1 Recovery rate is equal to 2024 Issued Sales in Store divided by 2019 Issued Sales in Store, like-for-like (i.e.: at constant merchant scope and exchange rates).
2 A strong year-on-year performance for international shopping When analyzing the year-on-year variation in Tax Free Shopping growth, issued Sales in Store in Continental Europe grew by +32%2 in February 2024 vs. last year. In terms of origin markets, the growth was positively influenced by most nationalities, with Mainland Chinese shoppers leading the way with a +222%2 growth rate in February 2024. Influenced by the pre-Ramadan period, GCC shoppers continued to show strong growth at +43%2, while US shoppers’ Tax Free Spend reached +12%2. In Asia Pacific, the growth rate strongly accelerated, reaching +120%2 in February 2024 vs. last year. All nationalities contributed positively, with Mainland Chinese shoppers leading the way at +350%2 in February 2024 vs. 2023, North East shoppers at +118%2 and Hong Kong and Taiwan shoppers at +54%2. APPENDIX Worldwide recovery rate (versus 2019) Issued SIS L/L recovery1 (in % of 2019) % Tax Free Spend (2019) February 2024 January 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 France 22% 174% 164% 140% 138% 146% 147% Italy 24% 131% 111% 123% 126% 128% 97% Spain 14% 134% 153% 133% 127% 122% 114% Germany 13% 71% 70% 74% 70% 77% 66% Other countries 27% 127% 121% 111% 119% 121% 108% Total Continental Europe 100% 132% 125% 118% 119% 121% 109% Japan 54% 229% 232% 225% 185% 121% 98% Singapore 42% 84% 85% 75% 84% 95% 74% South Korea 4% 118% 131% 111% 116% 109% 73% Total Asia Pacific 100% 159% 161% 150% 134% 111% 87% TOTAL WORLDWIDE 100% 141% 135% 127% 123% 118% 101% 2 Growth rate variation year-on-year (2024 vs. the same period in 2023)
3 Worldwide Year-on-Year Growth rate (2024 vs. 2023) Issued SIS L/L Year-on-Year Growth2 February 2024 January 2024 CY (2023) France +21% +11% 26% Italy +44% +26% 25% Spain +52% +31% 15% Germany +9% +20% 8% Other countries +30% +8% 26% Total Continental Europe +32% +17% 100% Japan +170% +100% 65% Singapore +36% +15% 27% South Korea +138% +108% 8% Total Asia Pacific +120% +71% 100% TOTAL WORLDWIDE 57% +34% 100% Glossary - Gulf Cooperation Council countries include: Kuwait, Qatar, Saudi Arabia, United Arab Emirates, Bahrain, Oman - South East Asia includes: Indonesia, Thailand, Cambodia, Philippines, Vietnam, Malaysia, Singapore - North East Asia includes: Japan, South Korea 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 Globa l Blue pioneered the concept of Tax Free Shopping 40 years ago. Through continuous innovation, we have become the leading strategic technology and payments par tner, empowering retai lers to improve their per formance and shoppers to enhance their experience. Globa l Blue offers innovative solutions in three different fie lds: • Tax Free Shopping: Helping retai lers at over 300,000 points of sale to e ffic ient ly manage 35 mil l i on Tax Free Shopping transactions a year, thanks to i ts fu l ly in tegrated in -house technology plat form. Meanwhi le , i ts industry -leading digi tal Tax Free shopper so lutions create a better , more seamless customer experience . • Payment services: Providing a ful l suite of foreign exchange and Payment technology solutions that a l low acquirers, hote ls, and retai lers to offer value -added services and improve the cus tomer experience during 31 mi l l ion payment transactions a year at 130,000 points of interaction . • Complementary Reta ilTech: Offer ing new technology so lutions to retai lers, including digi tal receipts and eCommerce returns , that can be eas i ly integrated with their core systems and al low them to optimize and digita l ize their processes throughout the omni -channe l customer journey, both in -store and online.
4 In addi t ion, our data and advisory serv ices offer a strategic advisory to help retai lers identify opportunit ies for growth, whi le our shopper exper ience and engagement solut ions provide data -dr i ven solutions to increase footfal l, convert footfa ll to revenue and enhance performance. For more in formation, vis i t https://www.globalblue.com/about -us/media Global Blue Monthly Speaker Notes Data, February 2024, Source: Global Blue
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