The change of the company’s name reflects the new value proposition, aimed at offering a wide range of airport services.
The board of directors of Safe Bag, a company listed on Euronext Growth Milan, leader in baggage protection and tracing services for airport passengers, has approved the change of name of the company.
The company announced that there has been evidence of the registration with the Varese Company Register of the resolution adopted by the extraordinary assembly and relating to the change of the company name. As a result, Safe Bag changed its name, becoming TraWell Co.
Why the name change
The change in the company name derives from the strategic need to extend its activities to a wider set of airport services, including:
- Relax and beauty,
- Business services,
- Mobility services,
- Baggage Transfer
- Click & Collect
- Stroller rental
- Porter Service
The new name TraWell Co, emphasizing the all-encompassing feature of the services offered by the company, is more representative of the new value proposition.
The geographic expansion continues
Founded in 1997, TraWell Co was among the first companies in the world to offer the baggage wrapping service.
The Group, after a series of strategic acquisitions, including Care4Bag, has expanded its geographical area of reference: the company now operates in over 56 airports in 18 countries, with approximately 5 million annual customers.
Excellent balance sheet results
TraWell Co continues on its growth path, in line with the expectations set out in the Plan.
In 2021, EBITDA went from -1.6 to -0.2 million euros, an increase of 1.3 million euros.
The net result went from -7.8 to -0.6 million euro, an increase of 7.1 million euro.
Net financial debt (NFP) amounted to € 9.2 million, an improvement of € 1.3 million compared to 31 December 2020 due to the net effect between the additional medium-term loans requested and obtained to in the face of the Covid-19 emergency and the capital increase carried out.
Investments to optimize the sanitation of luggage
TraWell Co has signed an exclusive agreement with Sanycar, a leading company in the field of disinfection with UV-C technology.
The partnership has as the main objective the design and production of machinery dedicated to the sanitization of baggage. The purpose of the agreement is to equip the TraWell Group with innovative machinery designed to ensure luggage hygiene in light of the needs arising from the spread of the Covid-19 pandemic.
The baggage sanitation service will be included, without price increases, in the wrapping service.
“The agreement with Sanycar is an important strategic step for us as it allows us to guarantee the best offer in terms of services and technology to both our airport partners and our customers. The goal is, on the one hand, to respond to the emerging need for hygiene against the risk of virus contamination and, on the other, to extend the use of our services to a wider target of airport passengers. There are many opportunities in this field, so we look forward to expanding our partnership with the Sanycar group to other areas in the near future”, said Rudolph Gentile, President of TraWell Co.