Felsher was also Chief Strategy Officer
MONTREAL–Data-driven marketing and loyalty analytics company Aimia Inc. announced the departure of Mr. Nathaniel Felsher, President & Chief Strategy Officer after only four months into his role at the company. The Company acknowledged Felsher’s contributions during “this pivotal period” and wished him well in his future endeavours.
Aimia Inc.’s (TSX:AIM) data-driven marketing and loyalty analytics provides clients with the customer insights they need to make smarter business decisions and build relevant, rewarding and long-term one-to-one relationships, evolving the value exchange to the mutual benefit of both our clients and consumers. Aimia partners with groups of companies and individual companies to help generate, collect and analyze customer data and build actionable insights.
Ongoing progress towards finalizing the Aeroplan transaction
The firm reported its financial results for the quarter ended September 30, 2018. Chief Executive Officer, Jeremy Rabe, commented: “Q3 marked another quarter of solid cash generation. Redemptions continued to trend in line with our expectations and spend on Aeroplan credit cards remained strong.
“Maintaining a strong cash and liquidity position, alongside business simplification and cost reduction, remain our key short term priorities. In our loyalty services businesses, the core competencies and solutions we can bring have led to us being recognized as an industry leader cited for its global reach and strategy capabilities. Our skills have been deployed building programs for blue chip client accounts serving hundreds of millions of loyalty members around the world. What we need – and are putting in place – is a more efficient service delivery model to improve profitability and generate better returns for our shareholders.”
Aimia continues to progress negotiations with the Consortium towards a year end closing of the Aeroplan transaction. Customer focused realignment of loyalty services businesses underway and expected to drive improving financial results. Investments delivered solid distributions and mark-to-market gains in the quarter.
Q3 highlights – GAAP basis:
Consolidated Total Revenue up by 6.3% to $372.7 million
Net earnings at $21.7 million, up by $62.0 million
Cash from operating activities at $45.6 million
Q3 highlights – Continuing operations, with variances on a like-for-like basis:(1)(2)
Coalitions Gross Billings down 3.8% to $323.7 million; Consolidated Gross Billings down 4.2% to $362.8 million on a like-for-like basis
Adjusted EBITDA at $55.5 million; Adjusted EBITDA margin (excluding restructuring expense) at 15.6%
Net earnings at $21.7 million
$37.5 million of Free Cash Flow generated in the quarter
Aimia’s Aeroplan recently renewed a multi-year agreement with Le Club AccorHotels, the free loyalty program for AccorHotels, a world-leading travel & lifestyle group and digital innovator offering unique experiences in more than 4,500 hotels, resorts and residences across 100 different countries
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. As of July 2nd, 2018, this now includes Fairmont, Raffles, and Swissôtel brands.
“Aeroplan Members love to travel and by partnering with Le Club AccorHotels, and their innovative family of hotels, we’re giving members more ways to earn miles when travelling,” said Jennifer Jones, Vice President, Travel, Retail and Strategic Development. “Our members will continue to benefit from a wide range of properties including 17 brands from luxury to economy hotels.”
“I am delighted to renew our strategic partnership with Canada’s premier travel loyalty program,” said Isabelle Birem, SVP Loyalty, Le Club AccorHotels. “We look forward to expanding our relationship to provide Aeroplan Members a true VIP experience, wherever they travel in the world. Le Club AccorHotels’ program wants to provide clients a seamless and rewarding travel journey with exclusive membership perks and experiences.”
Until December 31, 2018, Aeroplan Black and Diamond Status members can earn 1,000 bonus Aeroplan Miles for each conversion from Le Club AccorHotels points into Aeroplan Miles. Aeroplan Status members can also receive special treatment, based on their tier level, when they book a stay directly at Fairmont.com using their exclusive Fairmont Aeroplan status Promotional Code which can be found when logged into aeroplan.com.
Businesses include Aeroplan in Canada and Air Miles Middle East. The provision of loyalty strategy, program development, implementation and management services for other clients are underpinned by leading products and technology platforms such as the Aimia Loyalty Platform – Enterprise and Aimia Loyalty Platform – SaaS, and through analytics and insights business, including Intelligent Shopper Solutions. In other markets, they own stakes in loyalty programs, such as Club Premier in Mexico and Think Big, a partnership with Air Asia and Tune Group. The clients are diverse, and have industry-leading expertise in the fast-moving consumer goods, retail, financial services, and travel and airline industries globally to deliver against their unique needs.