Best quarter ever for First Camp Group

First Camp, Scandinavia’s largest campsite chain, more than doubled revenues in the third quarter vs the previous year and reached 610.3 MSEK, up from 291.6 MSEK. Also pro forma Adjusted EBITDA reached new records at 306.8 MSEK. Organic growth during the quarter was 12%.

”We’re happy and proud of such a strong result during the most important quarter of the year. Our continued investments in improving guest experiences along with commercial development yield good results. In parallel, we’ve continued to grow through acquisitions. Furthermore, guest and employee satisfaction has increased during the year which provides strong conditions for continued fast growth and strong results,” says Johan Söör, CEO of First Camp.

The third quarter 2022 (same quarter last year in brackets)

• Total revenue of SEK 610.3 million (291.6)
• Pro forma revenue increased with 12% compared to Q3 2021, excluding government support linked to Covid-19
• Pro forma Adjusted EBITDA amounted to SEK 306.8 million (297.5)
• EBIT of SEK 285.8 million (149.8)
• Cash flow from operating activities of SEK 66.8 million (52.2)

First three quarters 2022 (same period last year in brackets)

• Total revenue of SEK 911.8 million (419.4)
• Pro forma revenue increased with 20% compared to same period 2021, excluding government support linked to Covid-19
• Pro forma Adjusted EBITDA amounted to SEK 292.7 million (267.6)
• EBIT of SEK 181.1 million (103.2)
• Cash flow from operating activities of SEK 220.5 million (107.4)
• Establishment on the Norwegian market through the acquisition of two destinations with an estimated annual revenue of SEK 40 million in 2021
• Acquisition of two new destinations in Denmark with an estimated annual revenue of SEK 25 million in 2021

Significant events in the third quarter

• Record revenues for July, the most important month of the year. The Group’s total pro forma revenues in July reached SEK 381.4 million, an increase by 17 percent vs. July 2021 and by 18 percent vs. July 2019
• First Camp Group AB’s ultimate main shareholder Norvestor VII L.P., has during August divested its indirect ownership in First Camp to Norvestor SPV II SCSp. Norvestor SPV II SCSp is a continuation fund, managed and advised by Norvestor. Thus, the sale does not constitute a change of ownership (change of control) pursuant to the terms and conditions for the company’s outstanding bond loan
• In August, Tom Sibirzeff has chosen to leave the Board of Directors of First Camp Group, but will remain as an indirect shareholder of the Company
• First Camp broke records also in August. The Group’s total revenues were SEK 170 million, a proforma increase (excluding effects from new acquisitions) by 7 percent vs August 2021, and by 27 percent vs 2019.
• Thomas Buch Tøstesen took office as CEO of Jesperhus Feriepark in August. Thomas, who has solid experience from the Danish hospitality industry, most recently comes from a position as Hotel Director for Legoland Billund Resort, and has previously served as Operations Manager for FDM Camping

Significant events in the first two quarters

• In February First Camp completed the asset acquisition of Råbjerg Mile Camping and the acquisition of Klim Strand Camping in Denmark
• In February First Camp completed the acquisition of the group’s first campsite in Norway, Norsjø Ferieland
• In March First Camp completed the acquisition of Gol Campingsenter in Norway
• During February 2022, both the home markets of Sweden and Denmark, as well as important foreign markets such as Norway, have greatly eased Covid-19 related restrictions
• Russia’s invasion of Ukraine is deemed to have a very limited direct impact on First Camp as the company has no direct suppliers in the countries and the company's suppliers, as far as the company is aware, do not have critical subcontractors in the countries. Guests from the countries concerned do not constitute a material customer group
• All time high pro forma accommodation revenues during national holidays. Compared to 2021, accommodation revenues increased by 28% during the Easter holiday and 17% during Midsummer, driven by the return of foreign guests to a large extent and the opportunity for us to again arrange celebrations and activities at our destinations
• Our members’ club, First Camp Club, has been upgraded with more member benefits and a new membership category, Gold, for our most loyal guests.
• Launch of online ordering solution in First Camp Bistro

This information is information that First Camp Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08.00 CET on November 1, 2022.

For further information, please contact:

Göran Meijer
CFO 
goran.meijer@firstcamp.se
+46 (0)707 18 05 75

Johan Söör
CEO
johan.soor@firstcamp.se