Spanish travel tech firm HBX's annual loss widens, sees recovery in 2026 (updated)

HBX International

26/11/2025 07:39

Adds share move in paragraph 1, updates their year-to-date performance in paragraph 7

Nov 26 (Reuters) - Spanish travel technology firm HBX Group HBX.MC reported a much wider full-year loss on Wednesday, sending its shares about 13% lower shortly after the market opened.

HBX has struggled to convince investors after widening and then trimming its 2025 guidance in two consecutive quarters, which it ascribed to macroeconomic and geopolitical disruptions and a weaker U.S. dollar.

The company posted a 69.5 million euro ($80.6 million) net loss in the year through September, compared to a loss of 23.9 million euros a year ago.

Its annual revenue grew about 4% to 720 million euros, reaching the low end of the forecast range it had cut in July.

HBX, which buys hotel lodgings, car rentals and other products and resells them in bulk to travel agencies and retailers, said it expected its revenue and adjusted core earnings to grow between 2% and 7% in the 2026 fiscal year.

"The volatile macroeconomic environment prevalent in the second half of full-year 2025 has started to ease," the company said, citing signs of more stable trading conditions since the start of the new financial year.

Following a lacklustre debut on the Spanish stock exchange in February, shares of HBX saw steep moves in both directions related to the outlook changes. Since the latest slump in July, they have fallen steadily and are trading about 50% below their 11.50 euro IPO price, including Wednesday's losses.

($1 = 0.8626 euros)

HBX shares have lost 42% of their value since the IPO in February https://reut.rs/4oYFFKF

(Reporting by Javi West Larrañaga and Gemma Guasch in Gdansk, editing by Milla Nissi-Prussak)

((Javier.West@thomsonreuters.com; +34 918 35 61 12; gemma.guasch@thomsonreuters.com))