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.

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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 PackandFly and 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.”

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