Global Business Travel Group, Inc. (GBTG) reported a total transaction value (TTV) of approximately $36.3 billion for the fiscal year ending December 31, 2025, resulting in revenues of $2.72 billion and a net income of $111 million. This marks a 12% increase in revenue compared to $2.42 billion in 2024, driven by a combination of transaction growth and the acquisition of CWT, which contributed significantly to the revenue increase. The company also reported an Adjusted EBITDA of $532 million, reflecting an 11% increase from the previous year.
The company experienced notable changes in its financial performance, with net income rebounding from a loss of $134 million in 2024 to a profit of $111 million in 2025. This turnaround was attributed to increased transaction volumes and improved operational efficiencies. GBTG's total operating expenses rose by 12% to $2.59 billion, primarily due to costs associated with the CWT acquisition and higher employee-related expenses. However, the company implemented cost-saving initiatives that helped mitigate some of these increases.
Strategically, GBTG completed the acquisition of CWT in September 2025, which expanded its client base and service offerings. Additionally, the company gained control over Uvet Global Business Travel S.p.A. in December 2025, further enhancing its market presence. The integration of these acquisitions is expected to drive future growth and operational synergies. GBTG also announced a strategic alliance with SAP to co-develop an AI-powered platform, aiming to enhance its technology capabilities and improve client service.
Operationally, GBTG reported a 14% increase in transaction growth, with small and medium-sized enterprises (SMEs) representing approximately 46% of total transaction value. The company maintained a strong client retention rate of 96%, indicating robust customer loyalty. As of December 31, 2025, GBTG employed over 27,000 individuals across 49 countries, reflecting its extensive global footprint. The company also reported that 83% of bookings were made through digital channels, highlighting the effectiveness of its technology-driven approach.
Looking ahead, GBTG expressed optimism about its growth trajectory, driven by the ongoing recovery in business travel and the increasing demand for managed travel solutions. The company plans to continue investing in technology and expanding its service offerings, particularly in the SME segment, which presents significant growth opportunities. However, GBTG acknowledged potential risks, including macroeconomic uncertainties and competitive pressures, which could impact its future performance.
About Global Business Travel Group, Inc.
American Express Global Business Travel (GBT) is a leading provider of travel, expense, and meetings & events software and services. It offers comprehensive digital platforms, tailored solutions, and professional services to manage corporate travel programs worldwide. Serving diverse industries and clients of all sizes, GBT leverages proprietary technology, extensive supplier relationships, and a global support network to deliver savings, flexibility, and high-quality service.
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