Latest news with #IBEX-35
Reuters
30-07-2025
- Business
- Reuters
Spain's HBX slides around 20% after full-year guidance trim
July 30 (Reuters) - Shares in Spanish travel technology firm HBX Group ( opens new tab slid 20.3% at the open on Wednesday and were on track for their worst day ever, after the group revised its full-year guidance as a result of the macroeconomic backdrop and a weaker U.S. dollar. The company downgraded its expected 2025 revenues to between 720 million and 740 million euros ($831-$854 million) from a previous guidance of 740 million to 790 million euros. It also revised down its total transaction value, now expected to grow by 6% to 9% instead of the 10% to 16% projected at the initial public offering in February. HBX, which buys hotel lodgings, car rentals and other products and resells them in bulk to travel agencies and retailers, said the conflict in the Middle East resulted in double-digit declines in destinations such as Saudi Arabia and Jordan. It also highlighted a 3% drop in revenues in the U.S. as a result of the weaker currency and lower demand in the country. Operating in the travel tech sector, the company is particularly exposed to global dynamics. Fluctuations in travel demand driven by rising trade tensions, currency volatility or geopolitical uncertainty could directly affect its booking volumes and revenue outlook. After a lacklustre start on the Spanish stock exchange, shares in the company have failed to pick up and are now around 20% lower than on their February debut, underperforming the Spanish blue-chip index IBEX-35 (.IBEX), opens new tab, which has gained 23.6%. HBX is not part of the IBEX. The group said in a trading update its revenues in the April-June period, the third quarter of its financial year, were up 3% year-on-year. Earlier in July, analysts from Bank of America and Renta 4 said in separate notes that HBX had substantial upside potential, as the fragmented market it competes in should consolidate around the bigger players and smaller ones are set to be pushed out. ($1 = 0.8661 euros)
Reuters
13-02-2025
- Business
- Reuters
Spanish travel technology group HBX slumps on market debut
MADRID, Feb 13 (Reuters) - Shares in Spanish travel technology company HBX Group ( opens new tab plunged on their market debut on Thursday, erasing 236 million euros of its market value. HBX Group, which owns the Hotelbeds brand, had priced its shares at 11.50 euros earlier in the week for a 2.84 billion euro ($2.96 billion) valuation, in one of the euro zone's first initial public offerings of the year. The Madrid-listed shares, however, were down 8.3% at 10.54 euros by 0920 GMT while the blue-chip IBEX-35 (.IBEX), opens new tab index was unchanged. The company buys hotel accommodation, car rental and other travel products at a wholesale level and offers them to retailers on its different internet platforms. The IPO raised 860 million euros including an over-allotment option. HBX shareholders include private equity firms Cinven and EQT ( opens new tab, as well as Canada's CPP Investments. They all reduced their holdings through the IPO. ($1 = 0.9601 euros)
