ASMALLWORLD Full Year Results 2023

Highest Revenue on Record, Higher Net Income and Strengthened Balance Sheet

ASMALLWORLD AG / Key word(s): Annual Results ASMALLWORLD Full Year Results 2023: Highest Revenue on Record, Higher Net Income and Strengthened Balance Sheet 14-March-2024 / 06:00 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 Full Year Results 2023: Highest Revenue on Record, Higher Net Income and Strengthened Balance Sheet

Zurich, 14.03.2024 – ASMALLWORLD AG celebrates a remarkable 2023 fuelled by robust growth and strategic expansions. Sales grew by 15% and reached a new record high of CHF 21.2 million, while net income grew by 5%. At the same time, outstanding debt was reduced by 54%, resulting in a strengthened balance sheet. Expansion initiatives, including the ongoing growth of the ASMALLWORLD Collection, the newly launched ASMALLWORLD DISCOVERY and the acquisition of Jetbeds, further underscore ASMALLWORLD’s ambition for a leadership position in global luxury travel.

With the pandemic in the rear-view mirror, ASMALLWORLD once again saw a record year in terms of sales, which soared by 15%, reaching CHF 21.2 million. While EBITDA slightly decreased by 16% to CHF 2.1 million, the net result increased by 5% to CHF 1.53 million. Dividends from the Global Hotel Alliance investment contributed to this increase, as well as favourable FX conditions and reduced interest payments. The member base grew by 6% to a total of 70,200 members.

In terms of business unit performance, the Subscriptions segment saw a 13% increase in net sales to CHF 14.8 million, while the Services segment experienced a robust 20% growth to CHF 6.5 million, following limited growth in the previous year. Notably, the ASMALLWORLD Collection witnessed a remarkable 29% increase in bookings, alongside a resurgence in First Class & More's business and first-class flight package sales.

"We are excited to deliver another year of growth for ASMALLWORLD, an increase in net profit, and a stronger balance sheet than ever," commented ASMALLWORLD CEO Jan Luescher.

Subscriptions Grew by 13% Based on Continued Demand for ASMALLWORLD Prestige & Signature Memberships

The Subscriptions segment saw a 13% increase in net sales, reaching CHF 14.8 million, driven by strong demand for ASMALLWORLD’s premium memberships, Prestige and Signature. Notably, the segment was buoyed by the first full-year contribution from the Emirates miles option, reflecting ASMALLWORLD's commitment to enhancing member benefits and travel experiences.