ASMALLWORLD AG (SWX:ASWN) grew H1 revenue by 112%; balance sheet with a cash position of CHF 9.4M30.08.2018
ASMALLWORLD AG / Key word(s): Half Year Results
ASMALLWORLD AG (SWX:ASWN) grew H1 revenue by 112%; balance sheet with a cash position of CHF 9.4M
Zurich, 30.8.2018 - ASMALLWORLD AG (SWX:ASWN) today announced its H1 2018 results.
ASMALLWORLD looks back on robust revenue growth for the first half of 2018 and reaffirms its full year revenue guidance at the higher end of its previously stated guidance of CHF 6.5 to 7.0M, a substantial increase from 2017 revenue of CHF 5M. Member count is also expected to develop in line with the previously stated guidance of 34'000 to 36'000 members by the end of the year.
For H1 2018, revenue came in at CHF 3.9M compared to CHF 1.8M in H1 2017, an increase of 112% year-on-year.
Both business segments, Subscriptions and Services, contributed to the positive revenue development. Subscriptions grew by 48% and Services by 339% year-on-year. Subscription revenue growth was primarily driven by an increase in members as well as the launch of the new Premium Memberships in Q2. The number of members since the beginning of the year increased by about 16% to 33'074 members. Services revenue grew significantly due to more events and the impact of ASW Travel; which was launched in July 2017 and therefore contributed to the H1 result in 2018 but not to the same period last year.
EBITDA for H1 stood at CHF -1.4M (vs. CHF -0.8M in H1 2017). The change in absolute EBITDA was partly explained by the costs incurred for the public listing as well as M&A-related activities (total CHF 0.4M). At full cost, EBITDA margin improved from -45% to -36%. Adjusted for listing and M&A-related cost, EBITDA margin improved to -27%.
The company presents a healthy balance sheet with a cash position of CHF 9.4M and equity of CHF 9.0M. This large cash position is primarily due to the successful capital increase of CHF 8.3M in May.
The due diligence process for a potential acquisition of a luxury travel community (announced on April 24) is in due course and planned to be concluded in the coming weeks.
Further details and commentary are available in the H1 results presentation which can be found here: https://www.asmallworldag.com/financial-reports
ASMALLWORLD AG will hold an H1 conference call at 3pm on August 30, 2018. To participate in the call, please use the confirmation code '5571808' and the following dial-in numbers: Switzerland: +41 (0)44 580 1022; United Kingdom: +44 (0)330 336 9411; Germany: +49 (0)69 2222 2018; United States: +1 646-828-8144
ASMALLWORLD, the world's leading lifestyle community, is a private social network that connects people with shared passion for the good life.
Each year, ASMALLWORLD organises more than 1000 events around the world, where members can expand their private and professional networks. The ASMALLWORLD website and mobile apps offer members the opportunity to engage in discussions, obtain travel advice from the Travel Guides or other members, or meet fellow members whilst travelling the world. Members also enjoy exclusive privileges from international partners such as status upgrades, discounts and additional services.
Besides the global ASMALLWORLD community, Zurich-based ASMALLWORLD AG operates ASW Travel AG, which provides bespoke travel arrangements for its customers, as well as The World's Finest Clubs AG, which offers its members access to the most exclusive nightlife venues around the world.
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