ASMALLWORLD 2023 H1 results: sales increased by 56%

ASMALLWORLD 2023 H1 results: sales increased by 56%

Zurich, 17.08.2023 – Today, ASMALLWORLD AG announced its 2023 H1 results. Sales grew to CHF 11.5M, the highest on record for the company, equal to an increase of 56% compared to the first half of 2022. The strong growth was primarily driven by an increased demand for the new Prestige and Signature memberships with Emirates Skywards miles. EBITDA for the first six months reached CHF 1.0M and the member base grew to 67’454 members. For the full year, the company maintains its revenue guidance of CHF 20-22M and expects an EBITDA of CHF 2.2-2.4M.

During the first half of 2022, ASMALLWORLD AG increased its sales by 56% from CHF 7.4M to CHF 11.5M, the highest on record. The strong result was primarily driven by an increased demand for  Prestige and Signature memberships with Emirates Skywards air miles, First Class & More’s travel services, ASMALLWORLD Collection bookings, and fees from the collaboration with Global Hotel Alliance. The strong sales growth reflects the company’s strategic ambition to steadily grow the company while maintinging its profitability.

COGS increased by 126%, primarily as a result of the high Prestige and Signature sales. EBITDA came in 25% lower compared to the same period last year, which was the highest to date. Investments in people and technology, a tactical decision to spend more on marketing for ASMALLWORLD DISCOVERY and the ASMALLWORLD Collection, as well as the lack of a larger hospitality consulting project, resulted in a lower EBITDA for the period compared to last year. As a short-term result, EBITDA margins decreased from 18.8% to 9.0%. However, management expects EBITDA contributions to increase again during the second half of the year. The member base grew by 5.6% compared to June 2022 and reached 67’454 members.

“Our H1 results demonstrate our ability to consistently grow the business based by adding new and innovative products, and we are confident that we can reach the ambitious sales targets that we have set for ourselves for the full year,” comments ASMALLWORLD CEO Jan Luescher.

Partnership with Emirates increased sales of Prestige and Signature memberships

In July 2022, ASMALLWORLD entered into a partnership with Emirates Skywards, the award-winning loyalty programme of Emirates, and in September 2022, ASMALLWORLD expanded its Prestige and Signature memberships to include Emirates Skywards miles. Customers now have the ability to earn 250’000 or 500’000 Skywards Miles with their Prestige or Signature memberships, respectively, which in turn can be used for exclusive travel benefits including flight rewards and upgrades with Emirates.

ASMALLWORLD’s Prestige and Signature memberships with Emirates Skywards miles have proven to be a resounding success, and in the first half of 2023, they have surpassed sales of Prestige and Signature memberships with Miles & More miles, the best-selling option so far. The strong sales growth reflects the success of the new product and was the main contributor to the strong increase in revenue for the period. 

Full-year guidance confirms high sales growth expectations

For the full year, ASMALLWORLD maintains its previous guidance of CHF 20-22M in sales, which would result in another record year for the company. In terms of EBITDA, the company now expects CHF 2.2-2.4M for the year.

Earnings call and further information

ASMALLWORLD CEO Jan Luescher will hold a conference call later today, August 17^th, to provide additional details and commentary for the 2023 H1 results. The call will take place at 5pm CET.

To participate in the call, please register beforehand via the following link:

https://webcast.meetyoo.de/reg/FuNsk3wwTmXo

After registration, participants will receive a confirmation email with individual dial-in data.

The full 2023 H1 Financial Report, as well as the presentation for the 2023 H1 Earnings Call, are available for download on the ASMALLWORLD AG website at:

https://www.asmallworldag.com/financial-reports

This press release and further information can be found at www.asmallworldag.com.

Definition of EBITDA as an alternative performance measure: Earnings before interest (including all financial income and expenses), taxes, depreciation, and amortisation

The ASMALLWORLD Group:

ASMALLWORLD is the world’s leading travel & lifestyle community, focusing on experiences: the modern-day definition of luxury.

Centred around the ASMALLWORLD social network, the company operates a digital travel & lifestyle ecosystem that enables and inspires members to travel better, experience more and make new connections.

Members of the ASMALLWORLD social network connect through its app and website, where they can meet other members, engage in online discussions, receive travel and lifestyle inspiration, and enjoy a wealth of travel privileges.

Members also meet in person at over 1’000 global ASMALLWORLD events every year, ranging from casual get-togethers in major cities around the world, access to exclusive launches, shows, galas, soirees, exhibitions, major global sporting events and larger flagship weekend experiences hosted in iconic destinations such as Saint-Tropez and Gstaad.

Other businesses in the ASMALLWORLD travel & lifestyle ecosystem include:

ASMALLWORLD Collection, a high-end online hotel booking engine focused on the world’s most admired hotels, offering the unique “ASMALLWORLD VIP Rate,” which allows customers to enjoy exclusive travel benefits at no extra cost.

ASMALLWORLD Private, a high-end travel agency offering personalised travel curation services.

ASMALLWORLD Hospitality, a hospitality consulting and management consultancy that supports owners and developers of hospitality assets throughout the different lifecycle stages of their assets, including acquisition, development, operations and exit.

First Class & More, a subscription-based smart luxury travel service that allows members to enjoy luxury travel at insider prices.             

The World’s Finest Clubs, the world’s leading nightlife concierge offers its members VIP access to the most exclusive nightlife venues around the world.

For more information, please visit:

www.asmallworldag.com

www.asw.com

www.asmallworldcollection.com

www.asmallworldprivate.com

www.first-class-and-more.de

www.first-class-and-more.com

www.finestclubs.com

www.asmallworldhospitality.com

www.north-island.com

Contact:

ASMALLWORLD AG
Jan V. Luescher, CEO
Seidengasse 20
8001 Zurich
Switzerland
info@asmallworldag.com

Disclaimer

The statements contained in this press release may constitute "forward-looking statements". Such can be identified, for example, by the use of the words "may," "will," "should," "plan," "expect," "anticipate," "estimate," "believe," "intend," "project," "target," "seek," or "aim," or the negative of these words or comparable expressions.

Forward-looking statements involve a number of known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Issuer or its industry to be materially different from any future results, level of activity, performance or achievements expressed or implied by such forward-looking statements.

The issuer undertakes no obligation to publicly update or revise any forward-looking statements contained herein, whether as a result of new information, future events or otherwise.