The second quarter of 2022 represents another record quarter in terms of revenue, increasing the number of total reservations by 3.7x year-on-year and crossing the milestone of 100 million total reservations
Total ticket price from $56.0 million in six months finished June 30, 2022up 3.2x compared to the half-year ended June 30, 2021
Well capitalized with $19 million cash on the balance sheet June 30, 2022; $29 million subsequently raised early in the third quarter through a private placement and capital facility; go to > $460 million remaining capital facility
Swvl’s second quarter performance is in line with its expectation of positive cash flow in 2023
NEW YORK, August 17, 2022 /PRNewswire/ — Swvl Holdings Corp (“Swvl” or the “Company”) (NASDAQ: SWVL), a global provider of transformative technology-based transit solutions, today announced its first-half results. 2022 and certain results for the Second Quarter of 2022. Condensed unaudited interim financial statements of Swvl for the six-month periods ended June 30, 2022 and 2021, and additional information is available on the Swvl website here.
Financial highlights for the semester 2022 (H1’22)
Key business metrics for the 2022 semester (S1’22)
Total ticket prices from $56.0 million for H1’22, growth of 3.2x on H1’21
Total bookings of 40.1 min for H1’22, growth of 3.7x on H1’21
Q2 2022 Financial Highlights (Q2’22)
Key Business Metrics for Q2 2022 (Q2’22)
Total ticket prices from $29.0 million for Q2’22, growth of 3.0x on Q2’21 and 1.1x on Q1’22
Total reservations of 22.6 min for Q2’22, growth of 3.5x compared to Q2’21 and 1.3x compared to Q1’22
Cumulative total bookings to date exceed 112.5 million
Mostafa KandilFounder and CEO of Swvlsaid, “As we pass the 100 million total bookings milestone, we will continue to use the power of our cloud platform to become more profitable while serving a range of user personas, providing the cities of the future integrated mobility. operating system that helps address issues of security, reliability, efficiency, and accessibility. The company’s business objectives are centered on maintaining sustainable revenue growth fueled by innovation supported by technology fueling profitability.
Youssef SalemCFOsaid: “The first half of 2022 marked several important milestones for us, including 3.7x and 3.2x growth in total bookings and revenue, respectively, compared to the first half of 2021. We also achieved several milestones strategies, including organic SaaS launches in Kuwait and Brazil and the acquisitions of Urbvan, Volt Lines and door2door as we continue to grow our most profitable segments in line with Swvl’s portfolio optimization program which we believe will enable us to be cash flow positive in 2023. »
In addition to the information contained in this release and Swvl’s condensed unaudited interim financial statements for the six months ended June 30, 2022 and 2021, presentation slides have been made available on the Swvl website.
Main trade measures
“Total Ticket Fares” is an operational metric representing the total dollars processed on Swvl’s platform for reserved seats.
“Total Bookings” is an operational metric representing the total number of seats booked by passengers and corporate customers (completed or cancelled) on our platform, over the measurement period.
Swvl is a global provider of transformative technology transit solutions, offering intercity, intracity, B2B and B2G transportation in over 20 countries. The Company’s platform provides free semi-private alternatives to public transportation for people who cannot access or afford private options. Every day, Swvl’s parallel transit systems get people where they want, when they want – making mobility safer, more efficient, accessible and environmentally friendly. Customers can book their rides on an easy-to-use proprietary app with various payment options and 24/7 access to high-quality private buses and vans.
Swvl was co-founded by Mostafa Kandilwho began his career at Rocket Internet, where he launched the Carmudi car sales platform in The Philippines, which became the nation’s largest automotive classifieds company in just six months. He then served as Chief Operating Officer of Rocket Internet. In 2016, Kandil joined Careem, a ride-sharing company and the first unicorn in the world. Middle East. He supported the platform’s expansion into several new markets.
For more information on Swvl, please visit www.swvl.com.
Certain statements made herein are not historical facts but are forward-looking statements. Forward-looking statements are generally accompanied by words such as “believe”, “may”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, ” should”, “should”, “plan”, “predict”, “potential”, “seem”, “seek”, “future”, “prospects” and similar expressions which predict or indicate future events or trends or which do not are not statements of historical matters.These forward-looking statements include, but are not limited to, statements regarding future events and other statements that are not historical facts.
These statements are based on the current expectations of Swvl’s management and are not predictions of actual performance. These forward-looking statements are provided for informational purposes only and are not intended to serve and should not be relied upon by any investor as a guarantee, assurance, prediction or definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from the assumptions. Many actual events and circumstances are beyond Swvl’s control. These statements are subject to a number of risks and uncertainties relating to Swvl’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to: general economic, political and business conditions, including, but not limited to, economic and operational disruptions and other effects of the COVID-19 pandemic; Swvl’s ability to execute its growth strategy, manage growth profitably and retain its key employees; competition with other companies in the mobility industry; Swvl’s limited operating history and lack of experience as a public company; the recent implementation of certain policies and procedures to ensure compliance with applicable laws and regulations, including with respect to anti-bribery, anti-corruption and cyber protection; the risk that Swvl may not be able to execute its portfolio optimization plan; the risk that Swvl may not be able to attract and retain high quality consumers, qualified drivers and other personnel; the risk that Swvl may not be able to protect and enforce its intellectual property rights; the risk that Swvl may not be able to determine user demand to develop new offers on its platform; difficulty in obtaining required registrations, licenses, permits or approvals in the jurisdictions in which Swvl currently operates or may operate in the future; the fact that Swvl currently operates and intends to expand into jurisdictions that are, or have been, characterized by political instability, may have inadequate or limited regulatory and legal frameworks and may have treaties or other limited arrangements, if any, in place to protect foreign investment or participation; the risk that Swvl drivers will be classified as employees, workers or quasi-employees in the jurisdictions in which they operate; the fact that Swvl has operations in countries known to experience high levels of corruption and is subject to territorial anti-corruption laws in those jurisdictions; the ability of Swvl to maintain the listing of its securities on the Nasdaq; Swvl’s acquisitions may not be beneficial to Swvl due to the cost of integrating geographically disparate operations and diverting management’s attention from its existing businesses, among other things; and other risks which will be detailed from time to time in filings with the United States Securities and Exchange Commission. The above list of risk factors is not exhaustive. There may be additional risks that Swvl is not currently aware of or that Swvl currently believes to be immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements provide Swvl’s expectations, plans or forecasts regarding future events and beliefs as of the date of such communication. Swvl anticipates that subsequent events and developments will cause Swvl’s assessments and projections to change. However, while Swvl may choose to update these forward-looking statements in the future, Swvl specifically disclaims any obligation to do so. These forward-looking statements should not be taken to represent Swvl’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed on forward-looking statements.