Slide 1: H1 2025 Results
H1 2025 Results 2 1 st A U G U S T 2 0 2 5
Slide 2: Agenda
Agenda H1 2025 PERFORMANCE KEY INITIATIVES SEGMENT REPORTING CONSOLIDATED FINANCIALS OUTLOOK FULL YEAR 2025
Slide 3: ASMALLWORLD is the trusted community for the modern luxury traveller
ASMALLWORLD is the trusted community for the modern luxury traveller Our mission is to encourage our members to find travel inspiration, book unique journeys, and connect with like-minded members 3
Slide 4: Overview of H1 2025 Performance
Overview of H1 2025 Performance
Slide 5: Operational Highlights H1 2025
Operational Highlights H1 2025 New strategic initiatives launched across products and partnerships to drive long-term profitability • Grew member base by 53% to 109.5K customers • Accelerated growth in ASW Travel services, driving >150% profit growth year over year • Developed new paid membership ti
Slide 6: KPI View – H1 2025
KPI View – H1 2025 Reduced Sales and EBITDA largely due to one-off items in 2024 and 2025 Total Sales Members EBITDA -23% -54% 109.5K +53% 11.5M 11.7M 1.0M 1.0M 9.7M 88.2K 0.9M 9.2M 9.1M 71.6K 67.4K 70.2K 0.4M 0.4M H1 H2 H1 H2 H1 H1 H2 H1 H2 H1 H1 H2 H1 H2 H1 2023 2024 2025 2023 2024 2025 2023 2024
Slide 7: Key Initiatives
Key Initiatives ASMALLWORLD
Slide 8: Four key initiatives in 2025
Four key initiatives in 2025 2025 marks an important year as we shift focus to external commercial growth and opportunities to scale 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 Driv
Slide 9: ASMALLWORLD’s travel & lifestyle ecosystem
ASMALLWORLD’s travel & lifestyle ecosystem We are now are focused on articulating the value of the services and driving revenue and cost synergies across the group COLLECTION BESPOKE TRAVEL Online hotel booking engine Full-service travel agency focused on luxury hotels for curated travel arrangement
Slide 10: Travel booking volume continues to grow
Travel booking volume continues to grow ASW continues to scale its online and offline travel bookings, driving increased profit ASW Collection ASW Collection Bookings by Half Year • Value of stays up by 32% vs. last year (commissionable stays in the period) Value of stays per half year (indexed) • V
Slide 11: Segment Reporting
Segment Reporting ASMALLWORLD
Slide 12: Subscriptions Business
Subscriptions Business Lower sales in certain memberships but overall profitability maintained In CHF HY 25 HY 24 Change • Decrease in higher tier subscriptions Y-o-Y : Lower sales of one particular air miles-related membership product amid uncertainty surrounding changes to Revenue 7.0M 7.7M -8% th
Slide 13: Services Business
Services Business Elevated prior-year comparative due to extraordinary, one-off impacts In CHF HY 25 HY 24 Change • Prior-Year Comparison: The prior-year period benefited from significant one-off revenues generated from low- margin event-related activities. In addition, a one-time gain from the reso
Slide 14: Consolidated Financials
Consolidated Financials ASMALLWORLD
Slide 15: Income Statement
Income Statement Improved EBITDA when adjusting for one-off impacts • Net sales/result The prior-year period benefited from In CHF ‘000 HY 25 HY 24 significant one-off revenues generated through low-margin Net sales 8’770.9 11’731.3 event-related activities. Moreover, a one-time gain related to the
Slide 16: Balance Sheet - Assets
Balance Sheet - Assets Lower asset position through reducing receivables and cash used to reduce debt obligations In CHF ‘000 HY 25 FY 24 Cash 919.2 1’999.1 • Cash position decreased primarily due to the reduction in financial liabilities. Securities 1’974.1 1’974.1 Receivables from services 196.3 7
Slide 17: Balance Sheet - Liabilities
Balance Sheet - Liabilities Continued reduction of financial liabilities to positively impact future operating results In CHF ‘000 HY 25 FY 24 Short-term financial liabilities 400.0 400.0 Payables for goods and services 947.2 1’526.9 • Payables from goods and services: High sales volumes of Prestige
Slide 18: Cash Flow Statement – Part 1
Cash Flow Statement – Part 1 Operating cash flow improved In CHF ‘000 HY 25 HY 24 Net result 29.0 595.3 • Operating Cash flow improved but still negative, primarily Depreciation of tangible fixed assets 8.6 6.3 due to a lower net result and seasonality, as larger Amortisation of intangible assets 38
Slide 19: Cash Flow Statement – Part 2
Cash Flow Statement – Part 2 Bank loan amortised by a further TCHF 400 In CHF ‘000 HY 25 HY 24 Outflows for investment (purchase) of tangible fixed assets -9.9 -14.5 Outflows for investment (purchase) of intangible assets -381.2 -399.6 • Investment of intangibles decreased due to lower capitalizatio
Slide 20: Outlook Full Year 2025
Outlook Full Year 2025 ASMALLWORLD
Slide 21: Updated Guidance for 2025
Updated Guidance for 2025 In 2025 we are focusing on accelerating profitable growth and diversifying our revenue streams Total Sales Members EBIDTA -4-12% +35-40% 21.2M 20.9M 18-20M 120-125K 2.5M 2.4M 18.5M 2.1M 88.2K 15.6M -16-30% 70.2K 66.0K 1.4M 63.3k 0.95-1.15M 2021 2022 2023 2024 2025E 2021 202
Slide 22: Q&A
Q&A
Slide 23: Seidengasse 20, 8001 Zurich, Switzerland
Seidengasse 20, 8001 Zurich, Switzerland www.asmallworld.com