ASMALLWORLD 2023 H1 results

sales increased by 56%

ASMALLWORLD AG / Key word(s): Half Year Results ASMALLWORLD 2023 H1 results: sales increased by 56% 17-Aug-2023 / 07:00 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 2023 H1 results: sales increased by 56%

Zurich, 17.08.2023 – Today, ASMALLWORLD AG announced its 2023 H1 results. Sales grew to CHF 11.5M, the highest on record for the company, equal to an increase of 56% compared to the first half of 2022. The strong growth was primarily driven by an increased demand for the new Prestige and Signature memberships with Emirates Skywards miles. EBITDA for the first six months reached CHF 1.0M and the member base grew to 67’454 members. For the full year, the company maintains its revenue guidance of CHF 20-22M and expects an EBITDA of CHF 2.2-2.4M.

During the first half of 2022, ASMALLWORLD AG increased its sales by 56% from CHF 7.4M to CHF 11.5M, the highest on record. The strong result was primarily driven by an increased demand for  Prestige and Signature memberships with Emirates Skywards air miles, First Class & More’s travel services, ASMALLWORLD Collection bookings, and fees from the collaboration with Global Hotel Alliance. The strong sales growth reflects the company’s strategic ambition to steadily grow the company while maintinging its profitability.

COGS increased by 126%, primarily as a result of the high Prestige and Signature sales. EBITDA came in 25% lower compared to the same period last year, which was the highest to date. Investments in people and technology, a tactical decision to spend more on marketing for ASMALLWORLD DISCOVERY and the ASMALLWORLD Collection, as well as the lack of a larger hospitality consulting project, resulted in a lower EBITDA for the period compared to last year. As a short-term result, EBITDA margins decreased from 18.8% to 9.0%. However, management expects EBITDA contributions to increase again during the second half of the year. The member base grew by 5.6% compared to June 2022 and reached 67’454 members.