Spanish travel tech firm HBX warns of lower annual profit on Middle East woes (updated)

HBX International

13/05/2026 07:36

Core profit expected to fall 2%-5%, vs 2%-7% growth seen earlier

MidEast conflict and macroeconomic uncertainty seen main reasons

Co buys AI experiences platform Bridgify, announces 1st dividend

Shares fall as much as 4% in early trade

Adds share moves and recent performance in paragraphs 5-6

By Gemma  Guasch and Javi West Larrañaga

May 13 (Reuters) - Spanish travel technology firm HBX Group HBX.MC forecast a fall in annual core profit on Wednesday, citing the impact of the Middle East conflict and macroeconomic uncertainty, sending its shares as much as 4% lower in opening trade.

The conflict in the Middle East has hit travel demand in destinations directly affected and on certain international routes, leading to greater volatility, shorter booking lead times and reduced short-term visibility, the company said.

The group had warned in January that its second quarter would be somewhat tougher than the exceptionally strong year-earlier period.

HBX now expects its full-year core profit to fall between 2% and 5% in 2026, compared with the 2%-7% growth seen earlier.

Shares of the group fell as much as 4% by 0734 GMT, while Madrid's general index .SMSI was up 0.5%.

The stock has lost about 45% of its value since going public in February 2025, weighed down by two forecast cuts, concerns over artificial intelligence-driven disruptions and the impact of geopolitical developments on tourism.

HBX, which buys hotel lodgings, car rentals and other products and resells them in bulk to travel agencies and retailers, posted an adjusted core profit of 163 million euros ($191 million) for the first half of the financial year ending September, compared with 159 million euros a year earlier.

The group said it had bought AI-native experiences platform Bridgify in a transaction including 3 million euros upfront consideration, to broaden AI-driven distribution across its travel technology ecosystem.

HBX announced its first dividend of 7.5 cents per share, equivalent to approximately 18 million euros, following the 100-million-euro share buyback programme launched in February.

($1 = 0.8522 euros)

HBX shares are about 43% below the IPO price in February 2025 https://reut.rs/4eI86KP

 (Reporting by Gemma Guasch and Javi West Larrañaga; Editing by Subhranshu Sahu)

 ((gemma.guasch@thomsonreuters.com; Javier.West@thomsonreuters.com))