Slide 1: 2021 Full Year Results
2021 FULL YEAR RESULTS 17TH MARCH 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 2021 PERFORMANCE • SUBSCRIPTIONS SEGMENT • SERVICES SEGMENT • CONSOLIDATED FINANCIALS • DEAL GLOBAL HOTEL ALLIANCE • OUTLOOK 2022 PAGE 4
Slide 5: 2021 Financial Results
2021 FINANCIAL RESULTS Best year in ASMALLWORLD’s history – strong sales and EBITDA growth • NET SALES +30% from CHF 12.0M to CHF 15.6M • EBITDA +61% from 1.5M to CHF 2.4M • NET INCOME +140% from 0.66M to CHF 1.58M – EPS: CHF 0.14 • OPERATING CASH FLOW +584% from CHF 0.6M to CHF 4.2M • CASH POSITION
Slide 6: Operational Highlights
OPERATIONAL HIGHLIGHTS We continued to drive sales with pandemic-resilient products while we maintained our focus on costs • Focused on sales of products with robust demand despite pandemic • ASW PRESTIGE MEMBERSHIP - steady demand for Business and First Class travel • FIRST CLASS & MORE Business an
Slide 7: Key Performance Metrics Over Time
KEY PERFORMANCE METRICS OVER TIME Recovered from dip in 2020 and even outperformed previous record year 2019 NET SALES MEMBERS EBITDA 2% 61% 30% 63.3k 2.4M 15.6M 62.0k 57.9k 12.9M 1.45M 1.49M 12.0M 47.8k 8.8M -2.3M 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 PAGE 7
Slide 8: Agenda
AGENDA • OVERVIEW OF 2021 PERFORMANCE • SUBSCRIPTIONS SEGMENT • SERVICES SEGMENT • CONSOLIDATED FINANCIALS • DEAL GLOBAL HOTEL ALLIANCE • OUTLOOK 2022 PAGE 8
Slide 9: Subscriptions Business
SUBSCRIPTIONS BUSINESS Solid growth despite pandemic, driven by ASW Prestige membership and First Class & More Diamant sales • Strong ASW PRESTIGE membership sales due to increased demand for In CHF 2021 2020 CHANGE Business and First Class flights • FIRST CLASS & MORE “DIAMANT” SALES REVENUE 10.2M
Slide 10: ASMALLWORLD Prestige Membership Sales Strong
ASMALLWORLD PRESTIGE MEMBERSHIP SALES STRONG ASW Prestige Memberships main driver of sales growth due to ongoing interest in Business and First Class travel • The ASW Prestige Membership offers a WEALTH OF TRAVEL BENEFITS • The most important sales element are 250’000 MILES & MORE AWARD MILES • Awar
Slide 11: ASW Community Online Functionality Expanded
ASW COMMUNITY ONLINE FUNCTIONALITY EXPANDED A long-awaited ‘Member Posts’ feature finally went live giving users new ways to engage with ASMALLWORLD • Introduction of 'MEMBER POSTS' in June • Feature allows users to upload and SHARE PHOTOS with other members via their respective news feeds • Generat
Slide 12: Agenda
AGENDA • OVERVIEW OF 2021 PERFORMANCE • SUBSCRIPTIONS SEGMENT • SERVICES SEGMENT • CONSOLIDATED FINANCIALS • DEAL GLOBAL HOTEL ALLIANCE • OUTLOOK 2022 PAGE 12
Slide 13: Services Business
SERVICES BUSINESS Strong demand for First Class & More flight packages and ASMALLWORLD Collection is starting to generate sales • FIRST CLASS & MORE’S Business and First-Class flight packages were in high In CHF 2021 2020 CHANGE demand, giving customers access to affordable privacy for air travel RE
Slide 14: ASMALLWORLD Collection Growing
ASMALLWORLD COLLECTION GROWING In July 2020, we launched our high-end online hotel booking engine “ASMALLWORLD Collection” • A newly created 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 ASMAL
Slide 15: Extraordinary Benefits - The ASW Preferred Rate
“EXTRAORDINARY BENEFITS” - THE ASW PREFERRED RATE Our customers can choose between the 'Lowest Rate' and our exclusive 'ASW Preferred Rate’ • LOWEST RATE: lowest rate available, great for price-sensitive customers € 395 € 395 • ASMALLWORLD PREFERRED RATE: our exclusive “value-for-money rate” that in
Slide 16: Three New Partnerships Started in 2021
THREE NEW PARTNERSHIPS STARTED IN 2021 In 2021 we added 3 new partners, expanding our access to great hotels HOTEL PARTNERSHIPS • Three NEW PARTNERSHIPS entered for the ASMALLWORLD Collection • Marriot (January) • Shangri-La (January) • The Doyle Collection (May) • Further expands ASMALLWORLD’s ACCE
Slide 17: Hotel Inventory Significantly Expanded
HOTEL INVENTORY SIGNIFICANTLY EXPANDED The ASMALLWORLD Collection now features 1’491 hotels, providing a substantial list of high-class hotels NUMBER OF HOTELS BY REGION • HOTEL INVENTORY DOUBLED since the launch of the ASMALLWORLD REGION LAUNCH TODAY CHANGE Collection 18 months ago EUROPE & NORTH A
Slide 18: Ritz-Carlton Residences Launched
RITZ-CARLTON RESIDENCES LAUNCHED ASMALLWORLD Hospitality supported launch of project and will continue to support sales & marketing effort • ASW client MAG of Life signed a deal with Marriott International to bring the FIRST THE RITZ-CARLTON RESIDENCES to the United Arab Emirates, as part of their K
Slide 19: Agenda
AGENDA • OVERVIEW OF 2021 PERFORMANCE • SUBSCRIPTIONS SEGMENT • SERVICES SEGMENT • CONSOLIDATED FINANCIALS • DEAL GLOBAL HOTEL ALLIANCE • OUTLOOK 2022 PAGE 19
Slide 20: Income Statement
INCOME STATEMENT Higher sales and EBITDA due to strong sales in both business units and reduced fixed cost base In CHF ‘000 2021 2020 CHANGE • SALES INCREASED BY 30% due to strong NET SALES 15,624 12,005 +30% sales in in both business segments OTHER OPERATING INCOME -199 0 -100% TOTAL SALES 15,425 1
Slide 21: Balance Sheet – Part 1
BALANCE SHEET – PART 1 Balance sheet increased due to stronger cash position In CHF ‘000 2021 2020 CASH 5,226 2,919 • CASH POSITION increased by CHF 2.3M RECEIVABLES FROM SERVICES 573 558 due to profit from operations OTHER SHORT-TERM RECEIVABLES 295 839 PREPAYMENTS AND ACCRUED INCOME 214 340 • OTHE
Slide 22: Balance Sheet – Part 2
BALANCE SHEET – PART 2 Long-term provisions reduced to 0 while long-term financial liabilities increased slightly In CHF ‘000 2021 2020 • PAYABLES increased due to open Miles & SHORT-TERM FINANCIAL LIABILITIES 143 0 More invoices from December (now settled) PAYABLES FROM GOODS AND SERVICES 629 127 O
Slide 23: Cash Flow Statement – Part 1
CASH FLOW STATEMENT – PART 1 Operating cash flow improved significantly due to higher profit and working capital changes In CHF ‘000 2021 2020 NET RESULT 1,577 656 DEPRECIATION OF TANGIBLE FIXED ASSETS 21 43 AMORTIZATION OF INTANGIBLE ASSETS 683 709 DECREASE/INCREASE OF PROVISIONS THAT DO 62 -86.8 •
Slide 24: Cash Flow Statement – Part 2
CASH FLOW STATEMENT – PART 2 Net change in cash CHF 2.3M for the year In CHF ‘000 2021 2020 INFLOWS FROM CAPITAL INCREASE 0 0 REPAYMENT OF SHORT-TERM • CASH INFLOW FROM FINANCING -61 0 FINANCIAL LIABILITIES reflects CHF 0.7M loan from Pellegrino ISSUANCE OF LONG-TERM Capital, partly offset by repaym
Slide 25: Agenda
AGENDA • OVERVIEW OF 2021 PERFORMANCE • SUBSCRIPTIONS SEGMENT • SERVICES SEGMENT • CONSOLIDATED FINANCIALS • DEAL GLOBAL HOTEL ALLIANCE • OUTLOOK 2022 PAGE 25
Slide 26: Deal with Global Hotel Alliance
DEAL WITH GLOBAL HOTEL ALLIANCE In December we announced that ASMALLWORLD will acquire a 10% stake in Global Hotel Alliance • ASMALLWORLD will ACQUIRE A 10% STAKE in Global Hotel Alliance (GHA) • PURCHASE PRICE has two elements: • USD 3.5M in cash • 3% stake in ASMALLWORLD • Deal will create a “STRA
Slide 27: Global Hotel Alliance / Discovery
GLOBAL HOTEL ALLIANCE / DISCOVERY One of the world’s leading hotel loyalty players with over 800 hotels in 85 countries and 22M customers OVERVIEW KEY FIGURES • World’s LARGEST ALLIANCE OF INDEPENDENT • 35 hotel brands HOTEL BRANDS • 800 hotels in 85 countries • Operates the world’s largest loyalty
Slide 28: Global Hotel Alliance Brands
GLOBAL HOTEL ALLIANCE BRANDS 35 brands are part of the DISCOVERY portfolio; NH Hotels will join in Q2 2022 PAGE 28
Slide 29: The Partnership Will Create Value in 4 Areas
THE PARTNERSHIP WILL CREATE VALUE IN 4 AREAS The partnership will significantly increase the revenue potential of ASW for the coming years • Elite tier DISCOVERY customers will receive COMPLEMENTARY MEMBERSHIP FOR ASW MEMBERSHIPS • GHA will pay ASW a SERVICE FEE for these memberships (for a minimum
Slide 30: Agenda
AGENDA • OVERVIEW OF 2021 PERFORMANCE • SUBSCRIPTIONS SEGMENT • SERVICES SEGMENT • CONSOLIDATED FINANCIALS • DEAL GLOBAL HOTEL ALLIANCE • OUTLOOK 2022 PAGE 30
Slide 31: Outlook 2022
OUTLOOK 2022 We will continue to focus on pandemic-resistant products and the long-term earnings potential of our business • Our outlook remains CAUTIOUS SHORT-TERM (Covid-19 / Ukraine) but we expect the market environment to improve over the course of the year • As a result we will continue to be P
Slide 32: Guidance for 2022
GUIDANCE FOR 2022 We are cautiously optimistic, anticipating moderate growth driven by a gradually improving market environment NET SALES MEMBERS EBITDA 8-17% 10-17% 17-18M 18-26% 2.6-2.8M 75-80k 2.4M 15.6M 12.9M 63.3k 1.45M 1.49M 12.0M 62.0k 57.9k 47.8k 8.8M -2.3M 2018 2019 2020 2021 2022E 2018 201
Slide 33: Q&A
Q&A PAGE 33
Slide 34: ASMALLWORLD AG
ASMALLWORLD AG Seidengasse 20, 8001 Zürich, Switzerland info@asmallworldag.com www.asmallworldag.com I www.asw.com PAGE 34