Slide 1: 2025 Full Year Results
2025 Full Year Results 2 nd A p r i l 2 0 2 6
Slide 2: Agenda
Agenda 2025 PERFORMANCE KEY INITIATIVES SEGMENT REPORTING CONSOLIDATED FINANCIALS OUTLOOK 2026
Slide 3: Overview of 2025 Performance
Overview of 2025 Performance
Slide 4: Operational Highlights 2025
Operational Highlights 2025 Scaling the platform and strengthening strategic foundations for long-term growth • ASMALLWORLD grew its global member base by 38% to 121.9K members, driven by the successful rollout of its new membership model and the introduction of a free tier • The company expanded it
Slide 5: KPI View – 2025
KPI View – 2025 Guidance achieved, while continuing to scale, in a transition year Net Sales Members EBITDA Guidance: 18-20M Guidance: 120-125K Guidance: 0.95-1.15M 21.2M 20.9M 121.9K 2.5M 2.4M 18.5M 19.1M 2.1M 15.6M 88.2K 70.2K 1.5M 12.0M 62.0K 63.3K 66.0K 1.4M 0.9M 2020 2021 2022 2023 2024 2025 20
Slide 6: Key Initiatives
Key Initiatives ASMALLWORLD
Slide 7: Four Key Initiatives in 2025
Four Key Initiatives in 2025 Foundational year to enable scalable growth, stronger partnerships, and improved profitability 1 2 3 4 Expand Product Grow Travel Accelerate Scale Prioritise Profit and Partners Services Diversify products and Scale relevant customer Grow online and offline Drive operati
Slide 8: Product Expansion & Strategic Partnerships
Product Expansion & Strategic Partnerships Expanded product offering and partnerships to drive relevance to members and enable profitable growth Launch of Advantage Membership • Introduced new membership offering to expand addressable market • Targets a wider audience of aspirational travellers, as
Slide 9: Accelerating Scale Through Strategic Distribution
Accelerating Scale Through Strategic Distribution Expanding product offering and partnerships to drive scalable growth Expanding High-Quality Acquisition Channels • Continued expansion of distribution through 121.9K MEMBERS new partnerships, including Klarna, AMEX, and UBS (+38%) • Access to high-va
Slide 10: Travel Booking Volume Continues to Grow
Travel Booking Volume Continues to Grow Monetisation strategies continue to accelerate; travel bookings continue to drive a pipeline of future revenue at higher margins ASW Collection Bookings by Full Year ASW Collection Value of stays per full year (indexed) +15% • Value of bookings up 15% vs. 2024
Slide 11: ASMALLWORLD’s Travel & Lifestyle Ecosystem
ASMALLWORLD’s Travel & Lifestyle Ecosystem Organisational restructure complete, to more efficiently scale our brands and businesses COLLECTION BESPOKE TRAVEL Online hotel booking engine Full-service travel agency focused on luxury hotels for curated travel arrangements Partner for independent hotels
Slide 12: From Fragmented Data to Actionable Insights
From Fragmented Data to Actionable Insights ASW BESPOKE HOTEL TRIP BOOKING MEMBER DISCUSSIONS MEMBERSHIP MEMBERS PURCHASE SERVICES INTERACTION MARKETING EMAIL MEMBERSHIP EVENT RENEWALS BOOKING 12
Slide 13: Data and AI Transformation
Data and AI Transformation Connecting and unifying data and services to enable accelerated growth and unlock potential via AI and automation Data Unification MEMBER • Connecting fragmented, siloed member data DISCUSSIONS HOTEL MEMBERSHIP across all touchpoints BOOKING PURCHASE • Creating a single, c
Slide 14: Segment Reporting
Segment Reporting ASMALLWORLD
Slide 15: Subscriptions Business
Subscriptions Business Diversification of partners and products supported segment revenue growth In CHF FY 25 FY 24 Change • Increase in subscriptions Y-o-Y : Membership sales increased as a result of launching both new membership products as well as new Revenue 15.2M 14.7M +3.7% partner benefits. •
Slide 16: Services Business
Services Business Strong fundamentals; elevated prior-year comparative due to extraordinary, one-off impacts • Prior-Year Comparison: The prior-year period In CHF FY 25 FY 24 Change benefited from significant one-off revenues generated from low-margin event-related activities. In addition, a one-tim
Slide 17: Consolidated Financials
Consolidated Financials ASMALLWORLD
Slide 18: Income Statement
Income Statement Underlying operating business improved; reported EBITDA impacted by one-offs In CHF ‘000 FY 25 FY 24 • Net sales/result: 2024 sales and EBITDA reflected a one-off Net sales 19’067.8 20’869.8 gain related to the MAG of Life dispute resolution. 2025 sales Other operating income 2’476.
Slide 19: Balance Sheet - Assets
Balance Sheet - Assets Balance sheet reflects disciplined capital allocation and working capital normalisation In CHF ‘000 FY 25 FY 24 • Cash position decreased following the reduction of financial Cash liabilities and investment in one-off projects contracted in 862.2 1’999.1 2024 (exited in 2025).
Slide 20: Balance Sheet - Liabilities
Balance Sheet - Liabilities Significant de-leveraging and strengthened balance sheet In CHF ‘000 FY 25 FY 24 • Payables from goods and services: High sales volumes of Short-term financial liabilities 0.0 400.0 Prestige and Signature memberships, as well as bookings for Payables for goods and service
Slide 21: Cash Flow Statement – Part 1
Cash Flow Statement – Part 1 Operating cash flow improved significantly, underlying cash generation remained stable • Operating Cash flow improved significantly and turned In CHF ‘000 FY 25 FY 24 positive, primarily driven by working capital movements and non-cash adjustments. Net result -221.9 511.
Slide 22: Cash Flow Statement – Part 2
Cash Flow Statement – Part 2 2026 debt schedule cleared completely In CHF ‘000 FY 25 FY 24 Outflows for investment (purchase) of tangible fixed assets -11.3 -21.0 Outflows for investment (purchase) of intangible assets -743.5 -794.6 • Investment of intangibles decreased due to reduction in software
Slide 23: Outlook for 2026
Outlook for 2026 ASMALLWORLD
Slide 24: Outlook for 2026
Outlook for 2026 With a larger platform and a more focused, disciplined, and structurally efficient operating model, commercial growth is the focus • Driving efficiency with a more focused and scalable operating model • Expanding ecosystem of strategic partners to further strengthen the value propos
Slide 25: Updated Guidance for 2026
Updated Guidance for 2026 Continued growth in member base and strategic focus on improved profitability Net Sales Members EBITDA 21.2M 20.9M 135-140K 2.5M 2.4M 18.5M 19.1M 17.5-19.5M 121.9K 2.1M 15.6M 88.2K 1.4M 70.2K 63.3K 66.0K 0.9-1.1M 0.9M 2021 2022 2023 2024 2025 2026E 2021 2022 2023 2024 2025
Slide 26: Q&A
Q&A
Slide 27: Seidengasse 20, 8001 Zurich, Switzerland
Seidengasse 20, 8001 Zurich, Switzerland www.asmallworld.com