ITALY. Publicly listed specialist luggage protection services and travel accessories company TraWell Co (formerly Safe Bag) has announced its consolidated half-yearly financial report for 2022, a period notable for an encouraging increase in revenue indicating a strong rebound in passenger spend.
For the six-month period ended 30 June, the travel goods specialist posted revenues of €10.9 million, up +52% year-on-year. The Americas accounted for approximately 50%, followed by Europe (28%), with Asia making up the balance of approximately 22%.
EBITDA climbed into the black, reaching €2.0 million, up by €2.2 million year-on-year while net profit stood at €2.0 million, an increase of €2.6 million.
TraWell Group President and CEO Rudolph Gentile said: “Demand is high, and the industry is rebounding as pandemic-era troubles subside. The Group benefits from the recovery in air traffic, as evidenced by the increase in revenues compared to 2021, on which management has built the foundations for the operational improvements implemented during the last months that bring an EBITDA of + €2.0 million and net result (after taxes) equal to +€ 2.0 million.”
Gentile continued: “We are working on the reopening of strategic points of sale, benefiting from the reduced competition, as can be seen from the quality and quantity of the concession tenders in which the Group is participating.”
Trawell Co. S.p.A. will be meeting investors at the https://www.nextgems.it/ conference in Milan on 18 October. Founded in 1997 and headquartered in Italy, the group has operations in 140 shops in 39 airports across 13 countries.
