Slide 1: 2022 H1 Results
2022 H1 RESULTS 25TH AUGUST 2022
Slide 2: ASMALLWORLD is the world's leading travel & lifestyle community
ASMALLWORLD is 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 inspires our members to TRAVEL BETTER, EXPERIENCE MORE, AND MAKE NEW C
Slide 3: ASMALLWORLD Travel & Lifestyle Ecosystem
ASMALLWORLD TRAVEL & LIFESTYLE ECOSYSTEM Centred around the ASMALLWORLD social network, our group offers a wealth of travel & lifestyle services Online hotel booking engine focused on luxury hotels EVENTS Event management Full-service travel agency for 1’000 ASW events per year for curated travel ar
Slide 4: Agenda
AGENDA • OVERVIEW OF H1 PERFORMANCE • SUBSCRIPTIONS SEGMENT • SERVICES SEGMENT • CONSOLIDATED FINANCIALS • OUTLOOK PAGE 4
Slide 5: Financial Highlights 2022 H1
FINANCIAL HIGHLIGHTS 2022 H1 EBITDA and net result grew 6% and 29%, due to better operating margins • SALES DECLINED BY 23% to CHF 7.4M vs. CHF 9.5M in H1 2021 – decline anticipated due to timing of our Prestige special offers (moved sales to H2), lower demand for Dubai travel services (FCAM) and st
Slide 6: KPI Over Time (Half-Year View)
KPI OVER TIME (HALF-YEAR VIEW) Despite lower sales compared to H1 2021, EBITDA was slightly up for H1 2022 NET SALES MEMBERS EBITDA -23% +2% +6% 63.3k 63.8k 1.4M 9.5M 62.5k 1.3M 62.0k 1.1M 1.1M 7.4M 6.1M 6.1M 2020 2021 2021 2022 2020 2021 2021 2022 2020 2021 2021 2022 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H
Slide 7: Operational Highlights 2022 H1
OPERATIONAL HIGHLIGHTS 2022 H1 ASMALLWORLD became self-funding and expanded its long-term revenue potential, while maintaining cost focus • Made final payment of CHF 3.5M for First Class & More – ASMALLWORD is now SELF-FUNDING and no longer requires external financing for its operations • Continued
Slide 8: Agenda
AGENDA • OVERVIEW OF H1 PERFORMANCE • SUBSCRIPTIONS SEGMENT • SERVICES SEGMENT • CONSOLIDATED FINANCIALS • OUTLOOK PAGE 8
Slide 9: Subscriptions Business Performance
SUBSCRIPTIONS BUSINESS PERFORMANCE Revenue lower due to shift of Prestige sale to H2 but EBITDA up 20% vs. H1 2021 • ASW PRESTIGE MEMBERSHIP SALES PERIOD SHIFTED: second sales period, previously In CHF 2022 H1 2021 H1 CHANGE fully in H1, now split into June and July, impacting H1 results REVENUE 4.8
Slide 10: ASW In-Person Events Slowly Increasing
ASW IN-PERSON EVENTS SLOWLY INCREASING Post pandemic ramp-up of in-person ASW events ongoing, still expected to be 35% below 2019 activity NUMBER OF ASMALLWORLD EVENTS • IN-PERSON EVENTS a key driver for 1124 signups - drastically reduced due to Covid-19 restrictions in 20/21 735 • ONLINE EVENTS wer
Slide 11: Introduced Apple In-App Payments
INTRODUCED APPLE IN-APP PAYMENTS In one of our last updates we have introduced in-app payments allowing members to purchase memberships more easily • Introduced IN-APP PAYMENTS for Apple devices in June • SIMPLIFIES PURCHASE of annual membership and encourages impulse purchases • USER ADOPTION fairl
Slide 12: Partnership with Emirates to Drive H2 Sales
PARTNERSHIP WITH EMIRATES TO DRIVE H2 SALES New memberships with Emirates Skywards miles will expand the reach of the Prestige and Signature memberships • Signed a PARTNERSHIP with Emirates Skywards in July • Next to Miles & More and Etihad, THIRD OPTION for customers to choose from • Will EXPAND RE
Slide 13: Partnership with GHA Up and Running
PARTNERSHIP WITH GHA UP AND RUNNING Purchase of 10% stake was completed in May; partnership has fully started • GLOBAL HOTEL ALLIANCE (GHA) is the world’s largest alliance of independent hotel brands • ASMALLWORLD ACQUIRED 10% STAKE in GHA • PAYMENT COMPLETED in May, $ 3.5 in cash and 3% stake in AS
Slide 14: Agenda
AGENDA • OVERVIEW OF H1 PERFORMANCE • SUBSCRIPTIONS SEGMENT • SERVICES SEGMENT • CONSOLIDATED FINANCIALS • OUTLOOK PAGE 14
Slide 15: Services Business Performance
SERVICES BUSINESS PERFORMANCE Travel services from First Class & More in high demand and ASMALLWORLD Collection starts to contribute slowly • Sales down due to lower demand for In CHF 2022 H1 2021 H1 CHANGE First Class & More’s FLIGHT AND UPGRADE SERVICES TO DUBAI (highly popular destination during
Slide 16: ASMALLWORLD Collection
ASMALLWORLD COLLECTION We continue to position the ASMALLWORLD collection as the go-to hotel booking engine for our members • High-end hotel booking engine, focused on THE WORLD’S BEST HOTELS • Booking experience is HIGHLY VISUAL AND STREAMLINED • Bookings can be made via WEB and via the ASMALLWORLD
Slide 17: ASW Collection Influencer Partnerships I/III
PERSONALISATION ASW COLLECTION INFLUENCER PARTNERSHIPS I/III We can now tailor the welcome page for influences to create a personal feel OWN PHOTO Creates a visual connection with the influencer INFLUENCER NAME AS A PARTNER Influencers are clearly labelled as partners PERSONAL WELCOME MESSAGE Makes
Slide 18: ASW Collection Influencer Partnerships II/III
PERSONALISATION ASW COLLECTION INFLUENCER PARTNERSHIPS II/III Influencers can create a list of favourite hotels to share with their followers and even upload their own images FAVOURITE HOTELS Influencers can share their favourite hotels with their followers OWN HOTEL IMAGES Influencers can upload ow
Slide 19: ASW Collection Influencer Partnerships III/III
PERSONALISATION ASW COLLECTION INFLUENCER PARTNERSHIPS III/III Influencers can add quotes and hotel photos to their favourite hotels so it feels even more personal INFLUENCER LOGO For favourite hotels, we can add an influencers logo, so followers know it’s one of their favourite hotels HOTEL QUOTE I
Slide 20: Collection Booking Volume Up Significantly
COLLECTION BOOKING VOLUME UP SIGNIFICANTLY The ASMALLWORLD Collection is staring to contribute positively to our bottom line BOOKING VOLUME • Bookings for the ASMALLWORLD Collection are STARTING TO PICK UP Booking volume indexed • The booking volume during H1 2022 was 4X OF H1 2021 • STICKINESS IS G
Slide 21: Agenda
AGENDA • OVERVIEW OF H1 PERFORMANCE • SUBSCRIPTIONS SEGMENT • SERVICES SEGMENT • CONSOLIDATED FINANCIALS • OUTLOOK PAGE 21
Slide 22: Income Statement 2022 HY1
INCOME STATEMENT 2022 HY1 EBITDA and net result growth despite decrease in net sales • NET SALES decreased by 23% due to In CHF ‘000 2022 HY1 2021 HY1 CHANGE fewer Prestige promotions, lower NET SALES 7’372.8 9’548.2 -23% demand for Dubai travel services OTHER OPERATING INCOME 0.0 -351.0 +100% (FCAM
Slide 23: Balance Sheet 2022 HY1 – Part 1
BALANCE SHEET 2022 HY1 – PART 1 Balance sheet increased due to acquisition of a 10% stake in Global Hotel Alliance In CHF ‘000 2022 HY1 2021 FY • CASH POSITION decreased by CHF 2.2M, CASH 2’999.4 5’226.0 primarily due to CHF 3.5M payout RECEIVABLES FROM SERVICES 1’436.7 573.4 related to the acquisit
Slide 24: Balance Sheet 2022 HY1 – Part 2
BALANCE SHEET 2022 HY1 – PART 2 Liabilities increased slightly due to a long-term bank loan offsetting the final FCAM earnout payment In CHF ‘000 2022 HY1 2020 FY SHORT-TERM FINANCIAL LIABILITIES 143.0 143.0 628.9 • SHORT-TERM PROVISIONS were reduced by PAYABLES FROM GOODS AND SERVICES 953.1 OTHER S
Slide 25: Cash Flow Statement 2022 HY1 – Part 1
CASH FLOW STATEMENT 2022 HY1 – PART 1 Operating cash flow decreased compared to H1 2022 mainly due to changes in the working capital In CHF ‘000 2022 HY1 2021 HY1 NET RESULT 960.6 742.4 • OPERATING CASH FLOW deceased to CHF DEPRECIATION OF TANGIBLE FIXED ASSETS 12.8 11.1 1.0M, vs. 4.1M, driven by ch
Slide 26: Cash Flow Statement 2022 HY1 – Part 2
CASH FLOW STATEMENT 2022 HY1 – PART 2 Changes in investing & financing cash flow driven by acquisition and financing of 10% stake in GHA and FCAM payment In CHF ‘000 2022 HY1 2021 HY1 • CASH DRAIN FROM INVESTING ACTIVITIES INFLOWS FOR INVESTMENT OF FINANCIAL ASSETS 0.0 2.2 high due to acquisition of
Slide 27: Agenda
AGENDA • OVERVIEW OF H1 PERFORMANCE • SUBSCRIPTIONS SEGMENT • SERVICES SEGMENT • CONSOLIDATED FINANCIALS • OUTLOOK PAGE 27
Slide 28: Outlook for H2
OUTLOOK FOR H2 We believe the second half of the year will offer primarily positive developments which will lead to an acceleration in sales • The GRADUAL IMPROVEMENT OF THE MARKET ENVIRONMENT post Covid will gradually increase the demand for our events and our social network and we expect a slow bu
Slide 29: Guidance for 2022 Maintained
GUIDANCE FOR 2022 MAINTAINED For H2, we anticipate a boost in sales due to the introduction of the Prestige/Signature memberships with Emirates Skywards NET SALES MEMBERS EBITDA 8-17% 10-17% 17-18M 3-6% 2.6-2.8M 65-67k 2.4M 15.6M 63.3k 12.9M 62.0k 1.45M 1.49M 12.0M 57.9k 47.8k 8.8M -2.3M 2018 2019 2
Slide 30: ASMALLWORLD AG
ASMALLWORLD AG Seidengasse 20 8001 Zürich, Switzerland info@asmallworldag.com www.asmallworldag.com I www.asw.com PAGE 30