a conference call with investors to discuss its preliminary and unaudited financial results for the fourth quarter and the year ended In December, Amex GBT entered into a business combination agreement with Apollo Strategic Growth Capital (NYSE: APSG) in a transaction that would result in Amex GBT being listed on the NYSE. Some of these forward-looking statements can be identified adversely affected by other economic, business, and/or competitive factors; (9)the impact of the global COVID-19 pandemic; and (10)other Exceeded Forecast& Well-Positioned for the Future. Information regarding APSG's and Amex GBT's respective directors and executive officers is contained in the Registration Statement. Our total revenue yield was martin.ferguson@amexgbt.com Transfer Agent. Speakers will include: The event will be held at the New York Stock Exchange. These non-GAAP financial measures supplement comparable GAAP measures in the evaluation of the effectiveness of our business strategies, to make budgeting decisions, and/or to compare our performance and liquidity against that of other peer companies using similar measures. expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. Growth Capital. Global Business Travel Group, Inc. (NYSE: GBTG) (American Express Global Business Travel, Amex GBT or the Company), the worlds leading B2B travel platform, today announced financial results for the quarter ended June 30, 2022. 3Based on total assets across the largest banks in the world. toward achieving these synergies. In addition, we use certain of these non-GAAP financial measures as performance measures as they are important metrics used by management to evaluate and understand the underlying operations and business trends, forecast future results and determine future capital investment locations. Please refer to the section below titled Non-GAAP Financial Measures for more information. New York, NY 10285 Recent booking trends are gaining momentum, with transactions reaching 51% of 2019 levels in the last week in February. TTV increased 14% to $6.8 billion. Some of these limitations are that these measures do not reflect: EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted Operating Expenses should not be considered as measures of liquidity or measures determining discretionary cash available to us to reinvest in the growth of our business or as measures of cash that will be available to us to meet our obligations. Global Business Travel Group, Inc. (NYSE: GBTG) uses certain trademarks and service marks of American Express Company or its subsidiaries (American Express) in the American Express Global Business Travel and American Express Meetings & Events brands and in connection with its business for permitted uses only under a limited license to its subsidiary from American Express (Licensed Marks). Throughout todays call, we will also be presenting certain non-GAAP travel environment and the fact that we now have turnkey solutions designed exactly for these customers. Financial Results (FY). Our integrated payments platform includes card-issuing, merchant-acquiring and card network businesses. Investor Relations February 28, 202310:15 AM American Express Company at KBW Fintech Payments Conference Corporate Profile American Express (NYSE: AXP) is a globally integrated payments company that provides customers with access to products, insights and experiences that enrich lives and build business success. Reconciliation of total operating expenses to Adjusted Operating Expenses: Represents severance and related expenses due to restructuring activities. This preliminary financial information has been prepared by management, and Amex GBTs independent accountants have within the meaning of the Private Securities Litigation Reform Act of 1995, Section27A of the Securities Act and Section21E believe, intend, estimates, targets, predicts, projects, Investors: The 2021 financial results presented in this communication are preliminary Pro forma for the acquisition of Egencia, second quarter 2022 Adjusted EBITDA improved by $189 million compared to the second quarter of 2021. Martine will review our financial results. In the first part of 2021, we faced a difficult comparison versus a approximately two months of contribution from Egencia. conference to chat with Richard Tams about #businesstravel hot topics, including NDC, sustainability, AI and the opportunities in the industry. Business travel transactions continued to recover in the quarter, reaching 76% of 2019 pro forma levels in June, and we reported positive Adjusted EBITDA. Remain on track to exceed the $25 million of Egencia synergies expected in full year 2022. Vice President Global Communications and Public Affairs, American Express Global Business Travel 23 percentage point improvement versus the middle of January. Im pleased to say the business travel recovery is well underway. . The Licensed Marks are trademarks or service marks of, and the property of, American Express. PDF American Express Global Business Travel Reports Q1 2022 Financial Transaction recovery represents the total number of transactions, including air, hotel, car rental, rail or other travel-related transactions, recorded at the time of booking and calculated on a gross basis to include cancellations, refunds and exchanges, in the current period as a percentage of the comparative period in 2019. Tabular Reconciliations for Non-GAAP Measures. The new investors join existing Amex GBT equity partners Certares, Qatar Investment Authority, funds managed by BlackRock and the Teacher Retirement System of Texas in owning half of the company. You may recall earlier in 2021, we also acquired Ovation Travel Group. American Express Global Business Travel (GBT) is the worlds leading B2B travel platform, providing software and services to manage travel, expenses, and meetings & events for companies of all sizes. You can email the site owner to let them know you were blocked. American Express Global Business Travel Q4 & FY 2021 Earnings Conference Call March 7, 2022 Speakers: Barry Sievert - Vice President of Finance and Investor Relations Paul Abbott - Chief Executive Officer Martine Gerow - Chief Financial Officer Slide 1: Title Slide Net cash used in operating activities increased $33 million, or 27%, primarily due to cash utilized for working capital investments driven by the continued business travel recovery, partially offset by reduction in operating loss. Enterprises by 5 to 10 percentage points. not completed their audit or review of such financial information. As you can see and as you just heard from Paul, we The recovery of business travel and thats particularly important for higher-value international travel as we look ahead. Our non-GAAP financial measures are provided in addition to, and should not be considered as an alternative to, other performance or liquidity measure derived in accordance with GAAP. by bringing the best people and the best technology in travel together to serve our customers. We welcomed Expedia as a new investor and secured investment commitments The Company now has in place an effective registration statement covering the resale by holders of certain of its securities. Recent government announcements from the WHO and various government Total completed investment in product and platform (as of 2022), of transactions through digital channels (2022), Total 2019 Revenue, 11% CAGR (2015 - 2019), Total 2019 Adj. proxy statement/prospectus and other documents filed with the SEC, without charge, when available, at the SECs website at www.sec.gov, Subject Company: Apollo Strategic are available in the earnings release. (212) 640-2000, Computershare 1-800-463-5911 We believe it typically presents an alternate measure of cash flows since purchases of property and equipment are a necessary component of our ongoing operations and it provides useful information regarding how cash provided by operating activities compares to the property and equipment investments required to maintain and grow our platform. billion of travel spend, and it is the fastest growing customer segment, with recovery trends that have consistently outpaced Global Multinational We have built the most valuable marketplace in B2B travel to deliver unrivalled choice, value and experiences. Then, if you look over the past six weeks, we have seen a 23 percentage point volume recovery American Express shall not be responsible in any manner whatsoever for, and in respect of, the statements herein, all of which are made solely by GBTG. Transaction Growth (Decline) represents year-over-year growth or decline as a percentage of the total number of transactions, including air, hotel, car rental, rail or other travel-related transactions, recorded at the time of booking and is calculated on a gross basis to include cancellations, refunds and exchanges. the tailwind of customers that are now moving from an unmanaged travel program to a fully managed travel program, driven by a more complex So before I come back and go through more detail on each of these highlights, or a solicitation of any proxy, vote, consent or approval relating to the Business Combination or otherwise in any jurisdiction, nor shall So we have significantly strengthened the value, choice and experience E-Invoicing Customer Support. Follow @amexgbt on Twitter, LinkedIn and Instagram. Corporate Travel Recovery Accelerating. Amex GBT will host its first quarter 2023 investor conference call today at 9:00 a.m. E.T. American Express (NYSE: AXP) is a globally integrated payments company that provides customers with access to products, insights and experiences that enrich lives and build business success. Represents fair value movements on earnout and warrant liabilities during the periods. And weve accelerated our technology investments higher G&A costs, and increased investments behind technology, content and sales and marketing. We are well on track to deliver the down 41% in full year 2021 as compared to 2019. Q2 2022 Highlights Strong Revenue and Earnings Trends With remote and hybrid work styles, it's more important than ever to strengthen collaboration.
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