ASMALLWORLD AG grew H1 revenue by 45% and reached positive EBITDA and net result03.09.2019
ASMALLWORLD AG / Key word(s): Half Year Results
ASMALLWORLD AG (SWX:ASWN) grew H1 revenue by 45% and reached positive EBITDA and net result
Zurich, 3.9.2019 - ASMALLWORLD AG (SWX:ASWN) announced its H1 2019 results. The company looks back on robust revenue growth of 45% for the first half of 2019, paired with a significant improvement of its profitability. EBITDA for the first six months came in at CHF 0.5M compared to CHF -1.4M for the same period in 2018. The member base increased from 47'800 to 54'900 since the beginning of the year. The company confirms its revenue guidance of CHF 12-12.5M for the full year, compared to CHF 8.8M in 2018.
For H1 2019, the company recorded revenues of CHF 5.7M compared to CHF 3.9M in H1 2018, an increase of 45% year-on-year. Both business segments, Subscriptions and Services, contributed to the positive revenue development.
Subscriptions, the company's core business, grew by 80%. This substantial revenue growth was primarily driven by an increase in members, the sale of premium memberships and the contribution from First Class & More. The number of members since the beginning of the year increased by 15% to 54'900 members.
Services revenues grew as budgeted by 2% and are expected to grow more significantly when the integration of the recently acquired luxury travel booking platform LuxuryBARED is completed by year end.
EBITDA turned positive for the first time since the listing of the company and stood at CHF 0.5M for the first half of the year (vs. CHF -1.4M in H1 2018). The EBITDA margin improved from -36% to 9% and the net result came in at CHF 0.3M (vs. CHF -1.9M in H1 2018). The company's cash position was CHF 6.3M by then end of June 2019.
This positive result was achieved despite M&A costs related to the acquisition of LuxuryBARED, its ongoing integration cost, the international expansion of First Class & More and the development of a brand new ASMALLWORLD iOS app.
Earnings call and further information
ASMALLWORLD AG will host an earnings call today 3rd September at 2pm to present the H1 results in more detail. To participate in the call, please use confirmation code 5326745 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: +1 929-477-0448
Further information and commentary is available in the H1 financial report and the H1 results presentation which can be found on the company's corporate website:
This press release and further information can be found at www.asmallworldag.com.
Definition of EBITDA as alternative performance measure: Earnings before interest (including all financial income and expenses), taxes, depreciation and amortization
The ASMALLWORLD Group
Our vision is to build the world's leading travel & lifestyle community, focusing on experiences: the modern-day definition of luxury.
Centred around the ASMALLWORLD social network, we operate a digital travel & lifestyle ecosystem which enables and inspires our members to make new connections, travel better, and experience more.
Members of the ASMALLWORLD social network connect through our 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 1000 global ASMALLWORLD events every year, ranging from regular 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, Marbella, and Gstaad.
Other businesses of the ASMALLWORLD travel & lifestyle ecosystem are:
First Class & More, a subscription-based smart luxury travel service that allows members to enjoy luxury travel at insider prices
LuxuryBARED, a luxury hotel booking platform offering a curated collection of the world's best hotels and exclusive booking upgrades and privileges
The World's Finest Clubs, a nightlife concierge that offers its members VIP access to the most exclusive nightlife venues around the world
ASW Hospitality, a hotel management company that operates the ASMALLWORLD Hotel Collection and manages the iconic North Island resort in the Seychelles
For more information, please visit:
End of ad hoc announcement
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|EQS News ID:||867405|
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