ASMALLWORLD AG (SWX:ASWN) expects to be profitable for the first half of 2019
Zurich, 20.08.2019 - ASMALLWORLD AG expects to be profitable for the first half of 2019, both in terms of EBITDA and net income. In the first half of 2018, the company reported a loss of CHF -1.4M at EBITDA level. This significant improvement in the company's earnings is accompanied by a previously communicated revenue growth of 40% and an increase in the number of members.
Based on preliminary figures, ASMALLWORLD AG today announces that it expects to be profitable for the first half of 2019, in terms of EBITDA as well as net income. In the same period in 2018, the company reported an EBITDA loss of CHF -1.4M. This significant improvement in the company's earnings is the result of a consistent strategic and operational expansion and follows a previously announced revenue increase of more than 40% compared to the same period last year.
In the first six months, the company's member base grew faster than expected and increased from 47'800 to 54'900. The company believes it is on track to reach its goal of 56'000 to 58'000 members by the end of the year and expects to reach its revenue guidance of CHF 12-12.5M for the full year.
The financial report for the first half of the year will be published on 3rd September 2019.
Leading Travel & Lifestyle Community developed further during H1
During the first half of 2019, the company further developed its leading travel & lifestyle community. On June 25th, ASMALLWORLD launched a completely new iOS app which makes it easier for members to get in touch with each other and to benefit from all the services offered to the ASMALLWORLD community. Further, on 4th June, the English-speaking website of First Class & More was launched, making the comprehensive Smart Luxury Travel offer accessible to a new and large target audience, expanding the company's revenue potential significantly.
The expansion and integration of LuxuryBARED, the hotel booking platform acquired in February 2019, is advancing according to plan. It is expected, that before year end, ASMALLWORLD members will be able to book a large selection of luxury hotels with one click directly from the app and website while benefiting from great privileges such as room upgrades and late check-outs. The company is currently investing in the technical integration of the implementation.
This autumn, the iconic North Island resort in the Seychelles, managed by ASW Hospitality AG, will become part of Marriott's "The Luxury Collection". The required property improvement plan and the integration of the inventory and reservation systems are progressing according to plan and should be finished on schedule.
This press release and further information can be found at www.asmallworldag.com.
Jan Luescher, CEO
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
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