ASMALLWORLD AG expects to be profitable for the year and raises revenue guidance20.12.2019
ASMALLWORLD AG / Key word(s): Change in Forecast
ASMALLWORLD AG (SWX:ASWN) expects to be profitable for the year and raises revenue guidance
Zurich, 20.12.2019 - ASMALLWORLD AG today announced that it raised its full year revenue guidance from CHF 12.0-12.5M to CHF 12.5-12.8M, which equals 42-45% of revenue growth year-on-year. The company also expects to be profitable for the year, both in terms of EBITDA and net income, despite significant investments in its technological infrastructure and the expansion of its travel business.
Based upon preliminary figures, ASMALLWORLD AG today announced that it expects to be profitable for 2019, in terms of EBITDA as well as net income. In 2018, the company reported an EBITDA loss of CHF -2.3M and a net income loss of CHF -3.1M. This significant improvement in the company's earnings compared to the previous year is the result of the consistent execution of its growth strategy and has been achieved despite the company's significant investments in its technological infrastructure and the expansion of its travel business.
The significant improvement in profitability goes hand in hand with an expected revenue increase of 42-45% compared to last year and is stronger than previously anticipated. As a result, the company raised its revenue guidance for the year from CHF 12.0-12.5M to CHF 12.5-12.8M.
The company's member base is growing as expected and the company is on track to reach the higher end of its goal of 56'000-58'000 members by the end of the year.
The financial report for full year will be published on 19th March 2020.
2019, a year of significant operational progress
During 2019, ASMALLWORLD further developed and expanded its leading global travel & lifestyle ecosystem. In June, ASMALLWORLD launched a completely new iOS app which made it easier for members to connect and benefit from the services offered to the ASMALLWORLD community. The company also launched an English language version of the First Class & More website, making the comprehensive Smart Luxury Travel offering accessible to a larger audience, expanding the company's revenue potential significantly.
Early November, the company launched the ASMALLWORLD Explorer, its own digital travel and lifestyle magazine which provides inspirational travel content to members and non-members alike. Shortly afterwards, the iconic North Island resort in the Seychelles, managed by ASW Hospitality AG, became part of Marriott's "The Luxury Collection" which will broaden the marketing reach of the private island resort.
In December, the company launched ASMALLWORLD Private, a high-end travel agency which offers highly bespoke travel arrangements to ASMALLWORLD members. This personalised travel service will soon be complemented by the ASMALLWORLD Collection, an online hotel booking engine currently in development. Based on the technology of LuxuryBARED, acquired earlier this year, this new online hotel booking platform is expected to launch in early 2020. Once live, ASMALLWORLD members will be able to book a hand-picked selection of the world's most admired luxury hotels with one click directly from the ASMALLWORLD app and website, while also benefiting from great privileges such as room upgrades and late check-outs.
This press release and further information can be found at www.asmallworldag.com.
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 which enables and inspires 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 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, 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
ASMALLWORLD Private, a high-end travel agency offering personalised travel curation service
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, the world's leading nightlife concierge offers its members VIP access to the most exclusive nightlife venues around the world
ASW Hospitality, a hotel management company that operates and manages the iconic North Island resort in the Seychelles
For more information, please visit:
End of ad hoc announcement
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Stuttgart, Tradegate Exchange; SIX Swiss Exchange|
|EQS News ID:||941029|
|End of Announcement||EQS Group News Service|