Amex GBT eyes 2025 growth, October CWT deal closing
Amex GBT is optimistic for 2025, driven by strong retention, a solid sales pipeline, and its pending CWT acquisition despite regulatory hurdles
American Express Global Business Travel (Amex GBT) closed 2024 with strong financial growth, reporting a 10% year-over-year increase in total transaction value (TTV) in the fourth quarter. The company expects to continue this momentum into 2025, despite ongoing geopolitical uncertainties.
Key takeaways
- Financial growth: Full year TTV: $30.5 billion (+8% YoY). Full year revenue: $2.4 billion (+6% YoY). Net loss improved from $136 million (2023) to $134 million (2024);
- Customer trends & market performance: 80% of Top 100 clients expect travel spend to remain flat or increase in 2025. SMB transaction growth is flat, but accounts for $2.2 billion of the $2.8 billion in new customer wins. Retention rates: 97% for all clients, 99% for global multinational clients. Regional transaction growth: Americas (+5%), EMEA (+2%), Asia Pacific (+12%);
- CWT acquisition update: DOJ antitrust trial set for September 8, 2025. CWT deal expected to close in Q3 or Q4 2025. UK regulators have softened their stance, which could help Amex GBT's legal defense.
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