Slide 1: H1 2018 Results
H1 2018 RESULTS AUGUST 30TH 2018
Slide 2: ASMALLWORLD: The World's Leading Lifestyle Community
ASMALLWORLD THE WORLD’S LEADING LIFESTYLE COMMUNITY We combine the traditions of a country club with the power of a digital platform to connect our members, both online, and more importantly, in real life 2
Slide 3: Our Community Has 33'000 Members
OUR COMMUNITY HAS 33’000 MEMBERS 57% Europe TOP 15 ASW CITIES 19% • London • Los Angeles • San Francisco U.S.A. and Canada • New York • Milan • Istanbul • Zurich • Miami • Rome 23% • Dubai • Geneva • Sydney Others • Paris • Munich • Singapore 3
Slide 4: A Unique Business Model
A UNIQUE BUSINESS MODEL SUBSCRIPTIONS + SERVICES 60% of 2017 sales 40% of 2017 sales • Unique positioning: the world’s leading ASMALLWORLD Events lifestyle community • Strong brand recognition and global World’s Finest Clubs Travel lifestyle authority • Quality-controlled, curated member base Upsell
Slide 5: Agenda
AGENDA OVERVIEW H1 PERFORMANCE SUBSCRIPTIONS SEGMENT SERVICES SEGMENT CONSOLIDATED FINANCIALS OUTLOOK 5
Slide 6: Highlights H1 2018
HIGHLIGHTS H1 2018 • Went public on SIX Swiss Exchange as first listed social media company in Switzerland on March 20th • Grew member base by 16% to 33,074 members • Launched premium membership tiers on May 3rd to broaden service offering • Raised CHF 8.3M of equity capital with institutional inves
Slide 7: Financial Summary H1 2018
FINANCIAL SUMMARY H1 2018 • Sales grew by 112% due to robust growth in both business segments • Subscriptions: 48% growth • Services: 339% growth • EBITDA margin improved from -45% to -36% but was impacted by the cost for the going public and costs related to M&A • Listing and M&A activity increased
Slide 8: Agenda
AGENDA OVERVIEW H1 PERFORMANCE SUBSCRIPTIONS SEGMENT SERVICES SEGMENT CONSOLIDATED FINANCIALS OUTLOOK 8
Slide 9: Subscriptions Segment with Robust Growth
SUBSCRIPTIONS SEGMENT WITH ROBUST GROWTH IN CHF ‘000 H1 2018 H1 2017 IN % • Subscription revenue grew by 48% YoY • Member base at the end of June at 33,074 Revenue 2,144.3 1,444.2 +48% members • Robust sales growth driven by EBITDA -982.7 -687.5 +43% • Member base increase of 16% for first 6 months
Slide 10: New Membership Tiers
NEW MEMBERSHIP TIERS • Introduced four membership tiers on May 3rd • Access: Basic membership for the ASW community • Lifetime: ‘Access’ for a lifetime with one-off payment • Prestige: Exclusive travel privileges and 250,000 airmiles • Signature: Ultimate travel privileges and 1M Etihad Guest airmil
Slide 11: Prestige with Miles & More Option
PRESTIGE WITH MILES & MORE OPTION THE EXCLUSIVE ASMALLWORLD PRESTIGE MEMBERSHIP • Prestige membership with 250,000 Miles & More Award Miles best- performing premium membership • 250,000 Miles & • ASW only M&M partner to ever More Award Miles • World’s Finest Clubs offer such a large amount of M&M ‘P
Slide 12: New City Guides with 'ASMALLWORLD Selection'
NEW CITY GUIDES WITH ‘ASMALLWORLD SELECTION’ • Improved design of City Guides (web version) to provide a more visual experience • ‘ASMALLWORLD Selection’ a curated list of venues, tailored to our members’ needs for each city • Each city guide with three sections • Restaurants • Nightlife • Accommoda
Slide 13: GDPR Compliance Achieved
GDPR COMPLIANCE ACHIEVED GDPR OVERVIEW IMPLEMENTATION AT ASW • GDPR came into effect in May 2018 • GDPR technically implemented and compliance achieved • Users have the right to (most relevant): • Request that personal data be erased when it’s no • Significant project due to data consistency longer
Slide 14: Agenda
AGENDA OVERVIEW H1 PERFORMANCE SUBSCRIPTIONS SEGMENT SERVICES SEGMENT CONSOLIDATED FINANCIALS OUTLOOK 14
Slide 15: Services Segment with Substantial Sales Increase
SERVICES SEGMENT WITH SUBSTANTIAL SALES INCREASE IN CHF ‘000 H1 2018 H1 2017 IN % • Services revenue grew by 339% YoY Revenue 1,759.7 400.9 +339% • High growth rate due to two reasons • Full effect of ASW Travel business EBITDA -436.8 -148.4 +194% (operations started in H2 2017) • More paid events E
Slide 16: Event KPIs Improved Due to Strengthened Ambassador Network
EVENT KPIS HAVE IMPROVED DUE TO STRENGTHENED AMBASSADOR NETWORK • Ongoing effort to improve quality and KPI H1 2018 VS 2017 quantity of Ambassador network • Improved Ambassador network organised # of Ambassadors +14% 26% more events in H1 compared to 2017 • Share of paid events increased # of events
Slide 17: ASW Summer Weekend in Saint-Tropez Firmly Established as 2nd Flagship Event
ASW SUMMER WEEKEND IN SAINT-TROPEZ FIRMLY ND ESTABLISHED AS 2 FLAGSHIP EVENT • Event took place for second time this May • Over 150 guests participated, an increase of almost 50% from last year • Great member feedback • Event firmly established as 2nd Flagship event besides ASW Winter Weekend in Gst
Slide 18: Event Rating System Introduced to Improve Event Quality
EVENT RATING SYSTEM INTRODUCED TO IMPROVE EVENT QUALITY • Automated event rating system introduced in March • Trigger sent after each event • Members can • Rate the events: members can rate events on a 5-point scale and leave feedback • Connect with fellow attendees: members can now more easily conn
Slide 19: Agenda
AGENDA OVERVIEW H1 PERFORMANCE SUBSCRIPTIONS SEGMENT SERVICES SEGMENT CONSOLIDATED FINANCIALS OUTLOOK 19
Slide 20: H1 2018 Income Statement
H1 2018 INCOME STATEMENT IN CHF ‘000 1H 2018 1H 2017* Net sales 3,904.0 1,845.1 Direct expenses for services rendered -2,599.8 -826.6 • Sales grew by 112% Personnel expenses -1,167.4 -1,015.2 Research and development expenses -248.0 -262.9 • Direct expenses increased by 215%, due to travel services
Slide 21: Balance Sheet 1/2
BALANCE SHEET 1/2 ASSETS IN CHF ‘000 30 JUNE 2018 31 DEC 2017 Cash 9,365.8 1,634.3 Receivables from services 337.6 288.9 Other short-term receivables 173.7 38.1 Prepayments and accured income 326.0 615.4 • Substantial increase in cash position to Total current assets 10,203.1 2,576.7 CHF 9.4M, prima
Slide 22: Balance Sheet 2/2
BALANCE SHEET 2/2 LIABILITIES AND EQUITY IN CHF ‘000 30 JUNE 2018 31 DEC 2017 Short-term financial liabilities 97.9 1,132.1 Payables from goods and services 789.9 181.8 Other short-term liabilities 83.1 207.2 • Short-term financial liabilities from Accured liabilities and deferred income 1,922.8 2’4
Slide 23: Cash Flow Statement 1/2
CASH FLOW STATEMENT 1/2 OPERATING ACTIVITIES IN CHF ‘000 1H 2018 1H 2017 Net result -1,868.0 -1,405.7 Depreciation of tangible fixed assets 14.7 16.8 Amortization of intangible assets 402.1 308.6 • CF from operating +/- other expense/income that do not affect the fund 287.9 232.3 activities comparab
Slide 24: Cash Flow Statement 2/2
CASH FLOW STATEMENT 2/2 FINANCING ACTIVITIES IN CHF ‘000 1H 2018 1H 2017 • CF from financing Inflows from capital increase (including agio,deducting capital activities increased 9,408.5 .0 transaction cost) significantly due to Issuance/repayment of short-term financial liabilities -1,104.0 33.0 • C
Slide 25: Agenda
AGENDA OVERVIEW H1 PERFORMANCE SUBSCRIPTIONS SEGMENT SERVICES SEGMENT CONSOLIDATED FINANCIALS OUTLOOK 25
Slide 26: H2 Outlook
H2 OUTLOOK • Continue to execute ‘Strategy 2022’ as planned • Improve member experience and grow member base in core markets • Drive Premium Membership sales • Increase Services revenue through more paid events and travel services • Focus on specific product initiatives for H2 • Automated single eve
Slide 27: Financial Guidance for Full Year
FINANCIAL GUIDANCE FOR FULL YEAR REVENUE MEMBERS ARPU • Reaffirming full year 30-40% 20-25% 1-5% revenue guidance at higher end of 6.5-7.0M 200-208 34-36K previously stated 5.0M 198 range of CHF 6.5 to 28.5K 7.0M • Member base expected to reach guidance of 34-36k for full year • ARPU growth expected
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