ASMALLWORLD AG achieves record H1 results: sales increased by 62% and EBITDA by 232%


ASMALLWORLD AG / Key word(s): Half Year Results

26-Aug-2021 / 06:30 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

ASMALLWORLD AG (SWX:ASWN) achieves record H1 results: sales increased by 62% and EBITDA by 232%

Zurich, 26.08.2021 - Today, ASMALLWORLD AG announced its 2021 H1 results. Despite ongoing market challenges due to COVID-19 restrictions, sales grew by 62% and EBITDA increased by 232% compared to the first half of 2020. Additionally, operating cash flow almost tripled, from CHF 1.4M to CHF 4.1M. Both business segments, Subscriptions and Services, contributed to the strong revenue growth, while cost control measures further improved profit margins. The company also raises its guidance for the full year to CHF 13.0-14.0M in sales and CHF 2.0-2.3M in EBITDA.

During the first half of 2021, ASMALLWORLD AG increased its sales by 62%, from CHF 5.9M to CHF 9.5M, compared to the same period in 2020. This significant increase in revenue was due to strong results in in both business segments, Subscriptions and Services, which grew by 59% and 68% respectively. The member base grew by 3% to 62'469 compared to June 2020.

The growth in the Subscriptions segment was primarily the result of strong sales of the Prestige membership, ASMALLWORLD's premium membership tier which includes air miles from Miles & More or Etihad, as well as other travel perks from companies like Jumeirah, Sixt and Discovery.

The Service business primarily grew due to strong demand for First Class & More's Business and First-Class flight packages and upgrade options. The newly-launched online hotel booking engine ASMALLWORLD Collection further contributed to the growth in service revenues.

The strong revenue growth was complemented by continued cost control measures to preserve cash and further improve profit margins. Most importantly, the travel team was significantly downsized and the London office, were most of the travel team was based, was closed at the end of 2020. This move significantly reduced the fixed costs of the travel business. All essential tasks were redistributed within the company and ASMALLWORLD will continue to offer the same travel services to its customers going forward. Other teams were slightly reduced as well, where appropriate, and as a result personnel expense decreased by 17% year-on-year. Other operating expenses were reduced by 10%.

As a result of strong revenue growth and ongoing cost control, EBITDA increased by 232%, from CHF 0.4M to CHF 1.3M. The EBITDA margin doubled from 7% to 14%.

The company also significantly improved its operating cash flow, from CHF 1.4M to CHF 4.1M, demonstrating AMALLWORLD's ability to generate cash from its businesses.

The company's cash position at the end of June 2021 was CHF 5.3M.

"These fantastic H1 results demonstrate ASMALLWORLD's capacity to deliver on its ambitious targets, even during a period were ongoing social distancing and travel restrictions continue to limit the demand for our services. Despite our ongoing focus on costs, we continue to invest in our products and services, steadily expanding our revenue potential, which will allow us to continue to grow profitably," comments ASMALLWORLD CEO Jan Luescher.

ASMALLWORLD social network functionality expanded with 'Member Posts'

During the first half of 2021, ASMALLWORLD continued to invest in its services. Once key development was the introduction of the 'Member Posts' functionality in June. The new feature allows users to upload photos from their phones to ASMALLWORLD via the ASMALLWORLD iOS and Android apps. Uploaded images are then be shared with other members via their respective news feeds on the home screen of the apps.

The feature allows users to share exciting locations, memorable experiences, or any other magical moments captured on camera with the ASMALLWORLD community. By uploading their own photos, ASMALLWORLD members are expected to generate a wealth of new user-generated content which will drive user engagement, retention and ultimately growth going forward.

This essential new functionality already created higher user engagement among members and will be further improved by a new image processing service and the addition of video in the near future.

ASMALLWORLD Collection services and inventory keeps expanding

ASMALLWORLD also continued to expand its online hotel booking engine, the ASMALLWORLD Collection. Focused on the best hotels of the world, this new service offers ASMALLWORLD customers extraordinary benefits like room upgrades or US$ 100 hotel credit for their hotel bookings at no extra cost.

The ASMALLWORLD Collection launched its services in July 2020 with just over 600 hotels. In this first year after its launch, another 600 hotels were added to its high-end hotel portfolio.

At the same time, additional partnerships with strong international partners were formed. In the first half of 2021, ASMALLWORLD started three new collaborations: Marriot (January), Shangri-La (January) and the Doyle Collection (May). These new collaborations further expanded ASMALLWORLD's access to first-class hotels and contributed to the recent growth in hotel inventory.

In addition, a feature to earn loyalty points with the world's most popular loyalty programs was introduced in March. Customers who book hotel stays with the ASMALLWORLD Preferred Rate can now earn loyalty points from four of the world's leading loyalty programs: World of Hyatt, Marriott Bonvoy, Hilton Honors and Shangri-La Golden Circle. Loyalty points will be earned on top of the existing ASMALLWORLD Preferred Rate benefits and provide another strong incentive to book with the ASMALLWORLD Collection, as these loyalty points are usually only earned on direct bookings with the hotel programs.

ASMALLWORLD is committed to further improving its online hotel bookings engine and believes that the hotel business can become a significant revenue contributor going forward.

Full year guidance raised

Based on the strong operating result achieved during the first six months of the year, ASMALLWORLD is raising its full year guidance to CHF 13.0-14.0M in sales and CHF 2.0 -2.3M in EBITDA.

Earnings call and further information

ASMALLWORLD CEO Jan Luescher will hold a conference call later today, August 26, to provide additional details and commentary for the 2021 H1 results. The call will take place at 3pm CET.

To participate in the call, please use confirmation code 9847320 and one of the following dial-in numbers:

Switzerland: +41 (0)43 550 0294

United Kingdom: +44 (0)330 027 1846

Germany: +49 (0) 32214219720

United States: +1 334-777-6978

The full 2021 H1 Financial Report as well as the presentation for the 2021 H1 Earnings Call are available for download on the ASMALLWORLD AG website at:

This press release and further information can be found at

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


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 Collection, a high-end online hotel booking engine focused on the world's most admired hotels, offering the unique "ASMALLWORLD Preferred Rate" which allows customer to enjoy exclusive travel benefits at no extra cost

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

ASW Hospitality, a hotel management company that operates and manages the iconic North Is-land resort in the Seychelles

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:


Jan Luescher, CEO
Löwenstrasse 40
CH-8001 Zurich

End of ad hoc announcement

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