Safe Bag becomes TraWell as it expands airport services offer
ITALY/INTERNATIONAL. Safe Bag has changed its name to TraWell to reflect its aim of offering a wider variety of airport services.
The company is currently known for its luggage protection and tracking services, but says it will now also focus on currency exchange, relaxation and beauty, entertainment, business services, and mobility services.
The name change was announced alongside the release of the company’s new strategic plan up to 2022, which includes a revenue target of €75.7 million by the end of the period. EBITDA equal to €14 million, equivalent of 18.5% of revenues, and net profit equal to €9.5 million, is also being targeted.
These targets do not include subsidiary sostravel.com due to its planned discorporation from the group, which is set to take place before the end of 2019.
Following the acquisitions of Care4Bag, the group now operates in 56 airports with 160 points of sale. These are located in 18 different countries and about five million customers are served per year.
“We want to offer ourselves, on a global scale, as the aggregation point of excellence and innovation.”
TraWell’s strategic plan envisages reaching 70 licences by the end of 2022. The company is also planning to transition to the STAR segment of the MTA Market of Borsa Italiana from the second half of 2019, and has appointed Equita SIM to serve as financial advisor.
“The plan is the result of widespread industrial planning and is our ‘satellite navigator’ towards the future,” said Safe Bag/TraWell CEO Alessandro Notari. “Although ambitious, it also represents a realistic projection which does not contemplate different upsides which the TraWell team, composed of dynamic and efficient people, will certainly be able to tackle.
“We have already demonstrated in the past that we can considerably exceed the forecasts made in the previous industrial plan.”
Safe Bag – now TraWell – is expanding its focus to currency exchange, relaxation and beauty, entertainment, business services, and mobility services.
Safe Bag/TraWell President Rudolph Gentile commented: “The exponential growth of air traffic is redesigning the experience of travellers and their needs. The evolution is underway, but in many airports, the various services are provided by local operators who are not able to deal with the new market prospects.
“In this context, we want to offer ourselves, on a global scale, as the aggregation point of excellence and innovation. Thanks to the widening of the corporate mission, we are establishing the bases for ambitious growth which goes beyond that represented in the approved plan and which is linked, in our vision, to important M&A opportunities towards which we are already working.
“The new group will be complementary to the largest and most consolidated travel retail groups.”
Safe Bag study for the transition to the STAR segment of the MTA Market. New industrial plan is coming soon.
The management of Safe Bag will present the New Industrial Plan on the morning of 29 November 2018 at the Hotel Park Hyatt in Milan.
We also announce that the management has launched a feasibility analysis referring to the listing of Safe Bag shares on the STAR segment of the MTA Market of the Italian Stock Exchange starting from the second semester 2019 and in this context it has appointed Equita SIM S.p.A. to carry out the role of financial advisor.
“Through the operation of listing on the STAR segment of MTA we intend guaranteeing a greater liquidity for our shares and an increased interest from the institutional investors who operate mainly on regulated markets – declares Rudolph Gentile, President of Safe Bag. moreover – continues Gentile – with this operation we hope to improve our competitive position and strengthen relations with strategic partners also thanks to greater visibility on the national and international reference markets.”
Safe Bag has carried out closing for the acquisition of Care 4 Bag
Safe Bag S.p.A., world leader in luggage protection and tracing services for airport passengers announces that it has signed, with reference shareholders Kostas Darivakis, Sotiris Anyfantis and Athanassios Karageorgopoulas (hereinafter also “The Vendors”) an investment contract and inter-company agreement and that it today carried out closing for acquisition of 60% of the Care4Bag (http://www.care4bag.gr), the main Greek operator in the luggage protection service sector.
As reported in the press release of 18 July 2018, Care4Bag, operating in the two main Greek airports of Athens and Thessaloniki, recorded revenue in 2017 of around 1.2 million euro, an EBITDA of around 0.21 million euro and a net financial position approaching zero.
The concluded package of agreements has the following main elements:
1. Safe Bag intends acquiring 60% of the capital of Care4Bag from the Vendors;
2. The counter value of the transaction, equal to Euro 937,800, was established on the basis of a multiple equal to 3 times the adjusted EBITDA 2017 to which the Net Financial Position (Cash) at closing was added;
3. an “earn out” was also envisaged as of 2021 on condition that the licences and/or renewals relating to strategic airports are obtained;
4. the inter-company agreement envisages (i) governance of Care4Bag; (ii) the commitment of Kostas Darivakis to take on and maintain the role of CEO of the same company (iii) certain put and call commitments for the minority quota (40%) between Safe Bag and the Vendor shareholders when specific conditions exist;
5. The closing is resolutely conditional on the approval of the control exchange rate by the International Airport of Athens (IAA) which should take place within the next 45 days;
6. the transaction was funded with a dedicated financing line, supplied by Banca Intesa.
SAFE BAG - RYANAIR RATE WOULD INCREASE MARKET VOLUMES
Safe Bag, a leader in airport baggage protection and tracing service, could be on the stock exchange.
Ryanair has changed the rules for transporting the trolley. Until now, the traveler could decide whether to take the trolley in the cabin or leave it in the hold. In the first case, the cost of the priority boarding was charged, while the hold was at no cost.
Safe.Bag.trolley.jpg To speed up the boarding, the company has created the “priority” offer, based on which the passenger will be able to carry the baggage with him, paying a supplement of six euros.
Without priority, however, he will have to pay for the transport of checked baggage, even if it is a small suitcase.
This decision by the airline, which has 36 million customers in Italy and 128 in Europe, could increase the number of suitcases on board, and therefore the request for safe bag wraps by passengers.
SAFE BAG - Conquer the greek market
Safe Bag, a leader in airport baggage protection and tracing service, in the spotlight at the opening.
The company has entered into a binding agreement to purchase the majority of Care4Bag, a well-established Greek operator in the baggage protection sector and present in Athens and Thessaloniki airports.
Under the contract, Safe Bag will own 60% of the Care4Bag capital.
Safe Bag purchases 60% of Care4Bag
Safe Bag purchases 60% of Care4Bag, a Greek operator in the baggage protection service. The binding agreement was signed with the reference shareholders, Kostas Darivakis, Sotiris Anyfantis and Athanassios Karageorgopoulas. The completion of due diligence is expected by 17 September.
Care4Bag, present in the airports of Athens and Thessaloniki, in 2017, recorded revenues of approximately 1.2 million euro, an EBITDA of approximately 0.21 million euro and a net financial position close to zero.
The value of the transaction will be determined on the basis of a multiple equal to 3 times the adjusted EBITDA 2017, to the state still subject to due diligence, to which will be added the Net Financial Position expected at the Closing. Among other things, an “earn out” of 2021 is envisaged on the condition that it obtains concessions and / or renewals relating to strategic airports.
Safe Bag signs a 7-year contract with RIOgaleão
Safe Bag has signed a 7-year contract for the provision of its integrated services offering for travelers at RIOgaleão – Rio de Janeiro International Airport.
The contract, concluded following a trial period during which the airport and passengers were able to validate the concept and services of Safe Bag,
Safe Bag begins to operate with 3 stores with the option to increase its presence up to 5 stores, following the growth of airport passengers scheduled at the airport in the next 7 years.
LATEST NEWS Safe Bag: growth in turnover and profitability in the first quarter
Safe Bag S.p.A. (Aim Italia – Ticker SB.MI), world leader in baggage protection and tracing services for airport passengers, announces that the Board of Directors, meeting yesterday afternoon, took note of the main economic data related to the Group’s operating performance at March 31, 2018. The Group is growing on turnover and profitability:
– Consolidated revenues at March 31, 2018 reached 7.3 million euros, up 15.9% compared to the same period of 2017, in line with the Business Plan published on June 6, 2017;
– Profitability (EBITDA) at March 31, 2018 reached € 0.8 million, an increase of approximately 14.2% compared to the same period of 2017, in line with the Business Plan published on June 6, 2017.
The above results (of a managerial nature and not subject to audit) do not include the turnover deriving from the “Jorge Chavèz” airport of Lima, where Safe Bag plans to start operations from next July 2018.
“Safe Bag also confirms excellent growth in the first line and high profitability in 2018 – comments Rudolph Gentile, President of Safe Bag – which will allow the company to represent an aggregating hub for the various operators in the sector, especially abroad.
Safe Bag, UBI confirms "buy" and raises the target price
Definitely positive session for Safe Bag, which deals with an increase of 7.10%.
The positive assessment of the UBI Banca analysts contributed to assisting the shares, confirming the “buy” judgment on the stock and revising the target price upwards to 6.44 euros, a price that is compared to 5.38 euros of the current quotes.
Safe Bag guides the top ten of the best SMEs listed on Italy
A golden year for Safe Bag on Aim Italy.
Here are the ten SMEs that have run the most in the Aim list of Piazza Affari
Anyone who has passed through an airport will have surely noticed the machines used to wrap the luggage in a colored ribbon. Safe-Bag, the leading company in this sector, is Italian. It was founded in Gallarate, in the province of Varese 20 years ago. Not only does it offer a luggage packing service but a complete baggage protection package as various types of insurance policies to reimburse the customer in case of loss, delayed delivery or damage. In the last year, the shares of the company listed on the Aim Italia list rose by 431 percent.