ASMALLWORLD 2022 H1 results: EBITA increased by 6% and net result by 29%
ASMALLWORLD AG / Key word(s): Half Year Results ASMALLWORLD 2022 H1 results: EBITA increased by 6% and net result by 29% Sales for the first six months came in at CHF 7.4M, compared to CHF 9.5M in H1 2021. This decline was expected due to a combination of factors: H1 2021 included two ASMALLWORLD Prestige sales periods whereas H1 2022 only had 1.5 of those sales as the second sale was held later in the year and split between June and July. In addition, H1 2021 saw a record demand for First Class & More’s flight and upgrade services to Dubai, which was a highly popular destination during the pandemic. With other destinations opening up again in 2022, the demand for travel services to Dubai subsided this year and lead to lower revenues for the Services segment. Further, the strong Swiss Franc, reduced the contribution from the company’s large Euro-based sales by about 5-7% compared to H1 2021, further contributing to the lower sales in the Swiss Franc reporting currency. Costs were brought down by 27.4%, more than sales, increasing the operating margin for the business. Direct expenses contributed most of the savings, with a decrease of 41% compared to the first 6 months of 2021. The member base grew to 63’837 members, up by 2% compared to June 2021. “Our H1 results demonstrate that we continue to improve the margins of our business through a dedicated focus on cost control, even post the peak of the pandemic. At the same time, we continue to expand our revenue potential with new partnerships with Global Hotel Alliance and Emirates Skywards as well as positioning the ASMALLWORLD Collection as the go-to hotel booking engine for our members,” comments ASMALLWORLD CEO Jan Luescher. During H1, ASMALLWORLD AG made the final payment of CHF 3.5M for First Class & More, which it acquired in 2018. With this substantial payment complete, ASMALLWORLD is now self-funding and no longer requires external financing for its operations. At the end of June, the company’s cash position stood at a healthy CHF 3.0M. “The fact that we are now a self-funding business is a significant milestone and will allow us to make more strategic investments over the next few months, which will allow us to grow our business even more,” comments ASMALLWORLD CEO Jan Luescher. In May, ASMALLWORLD made the final payment for its CHF 4.5M acquisition of a 10% stake in Global Hotel Alliance (GHA), the world's largest alliance of independent hotel brands with over 800 hotels. This strategic investment opens new revenue streams and is expected to significantly expand ASMALLWORLD's earning potential over the next few years. ASMALLWORLD will support GHA in the delivery of its recently re-launched loyalty programme GHA DISCOVERY, which has more than 21 million members. Since July, GHA DISCOVERY’s highest-spending elite members receive complimentary access to the ASMALLWORLD social network, which will help the network grow further. In addition, ASMALLWORLD has received the right to recruit independent hotels to join the GHA hotel portfolio under a newly-created ASMALLWORLD Hotels & Resorts soft brand. First partnerships with hotels are expected to be announced towards the end of 2022. In July, ASMALLWORLD announced that it had entered a partnership with Emirates Skywards, the award-winning loyalty programme of Emirates. Starting from September 2022, ASMALLWORLD will expand its Prestige and Signature memberships to include Emirates Skywards miles. Customers will then be able to earn 250’000 or 500’000 Skywards Miles with their Prestige and Signature memberships, which in turn can be used for exclusive travel benefits including flight rewards and upgrades with Emirates. ASMALLWORLD’s Prestige membership, and especially the Miles & More option, has proven very popular with customers, especially with frequent flyers who use miles as payment for flights and flight upgrades. The new Emirates Skywards option will expand the target market for these memberships in the Middle East and globally, and will continue to add to the profitable growth of ASMALLWORLD in the coming years. For the full year, ASMALLWORLD maintains its previous guidance of CHF 17-18M in sales and CHF 2.6-2.8M in EBITDA. The company expects that the second half of the year will see a significant boost from the launch of its new Prestige and Signature memberships in partnership with Emirates Skywards. ASMALLWORLD CEO Jan Luescher will hold a conference call later today, August 25, to provide additional details and commentary for the 2022 H1 results. The call will take place at 3pm CET. To participate in the call, please use confirmation code 8582706 and one of the following dial-in numbers: Switzerland: +41 (0)44 580 7279 United Kingdom: +44 (0)330 165 4012 Germany: +49 (0)69 22222 5197 United States: +1 646-828-8073 Confirmation Code: 8582706
https://www.asmallworldag.com/financial-reports
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 which 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 of the ASMALLWORLD travel & lifestyle ecosystem include: ASMALLWORLD Private, a high-end travel agency offering personalised travel curation services ASMALLWORLD Hospitality, a hospitality consulting and management consultancy, which 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 www.asmallworldhospitality.com
Contact: ASMALLWORLD AG
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 which 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.
End of Inside Information |
Language: | English |
Company: | ASMALLWORLD AG |
Seidengasse 20 | |
8001 Zürich | |
Switzerland | |
ISIN: | CH0404880129 |
Valor: | A2JE3W |
Listed: | Regulated Unofficial Market in Frankfurt; SIX Swiss Exchange |
EQS News ID: | 1427735 |
End of Announcement | EQS News Service |
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1427735 25-Aug-2022 CET/CEST