Global Business Travel Group, Inc. (NYSE:GBTG) Q1 2023 Earnings Conference Call May 9, 2023 9:00 AM ET

Company Participants

Barry Sievert - Vice President, Investor Relations

Paul Abbott - Chief Executive Officer

Martine Gerow - Chief Financial Officer

Karen Williams - Deputy Chief Financial Officer

Eric Bock - Chief Legal Officer, Global Head of M&A and Compliance and Corporate

Conference Call Participants

Stephen Ju - Credit Suisse

Lee Horowitz - Deutsche Bank

Duane Pfennigwerth - Evercore ISI

Hilary Lee - Morgan Stanley

Operator

Good morning. And welcome to the American Express Global Business Travel First Quarter 2023 Earnings Conference Call. As a reminder, please note today’s call is being recorded.

I will now turn the call over to the Vice President of Investor Relations, Barry Sievert. Please go ahead, sir.

Barry Sievert

Hello, and good morning, everyone. Thank you for joining us for our first quarter earnings conference call. This morning we issued an earnings press release, which is available on the SEC and our website at investors.amexglobalbusinesstravel.com. A slide presentation, which accompanies today’s prepared remarks, is also available on the Amex GBT Investor Relations web page.

We would like to advise you that our comments contain forward-looking statements that represent our beliefs or expectations about future events, including the duration and effects of COVID-19, industry trends, cost savings and acquisition synergies, among others. All forward looking statements involve risks and uncertainties that may cause actual results to differ materially from the statements made on today’s conference call. More information on these and other risks and uncertainties is contained in our earnings release issued this morning and our other SEC filings.

Throughout today’s call, we will also be presenting certain non-GAAP financial measures, such as EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted operating expenses, free cash flow and net debt. All references during today’s call to such non-GAAP financial measures have been adjusted to exclude certain items. Definitions of these terms and the most directly comparable GAAP measures and reconciliations for non-GAAP measures are available in the supplemental materials of this presentation and in the earnings release.

Participating with me on the call today are Paul Abbott, our Chief Executive Officer; Martine Gerow, our Chief Financial Officer and Karen Williams our Deputy Chief Financial Officer. Also joining for the Q&A session today is Eric Bock, our Chief Legal Officer and Head of Global M&A.

With that, I will now turn the call over to Paul. Paul?