First Camp Group Year End Report 2021

First Camp publishes Year End Report 2021.

The fourth quarter 2021 (same quarter last year in brackets)

• Total revenue of SEK 53.9 million (38.7)
• Pro forma revenue increased with 13% compared to the fourth quarter 2020
• Pro forma Adjusted EBITDA amounted to SEK -29.3 million (-23.5)
• EBIT amounted to SEK -53.1 million (-30.4)
• Cash flow from operating activities amounted to SEK -43.1 million (-30.3)
• Acquisition of 12 new destinations closed during the quarter with an annual revenue of SEK 330 million during 2021
• Agreements have been entered to acquire three additional destinations, with closing in the first quarter of 2022, with an annual revenue of SEK 45 million in 2021

January - December 2021 (same period last year in brackets)

• Total revenue of SEK 473.3 million (378.8)
• Pro forma revenue increased with 26% compared to 2020
• Pro forma Adjusted EBITDA amounted to SEK 214.5 million (136.9)
• EBIT amounted to SEK 50.1 million (33.5)
• Cash flow from operating activities amounted to SEK 64.3 million (12.6)
• Acquisition of 12 new destinations closed during the period with an annual revenue of SEK 330 million during 2021
• Agreements have been entered to acquire three additional destinations, with closing in the first quarter of 2022, with an annual revenue of SEK 45 million in 2021
• The company has also in 2021 been negatively affected by the ongoing Covid-19 situation, with lower number of international guests compared to 2019 and lower activity within conference and events, even though there has been a partial recovery compared to 2020

Significant events in the fourth quarter

• In October, First Camp divested a property adjacent to one of our campsites in Varberg. The property, which was not used in the business, was sold for a price of SEK 30 million. The purchase price exceeds First Camp’s book value for the divested assets
• On 15 October, Eivor Andersson was re-elected to First Camp Group’s board and to the board of the parent company United Camping Holding AB
• In November, First Camp Group acquired Svenska Campingpärlor, which operates nine campsites in Sweden, as well as Boden Camping and Frigård Camping from United Camping Holding’s subsidiary United Camping Campsite HoldCo. The acquisitions had a combined revenue of SEK 195 million in 2021. For further information on the acquisitions, see Note 2
• In November, First Camp Group increased the value of its senior secured bond (maturing in June 2023) by SEK 335 million. The proceeds were used to finance the acquisitions of Svenska Campingpärlor, Boden Camping and Frigård Camping
• In December, First Camp Group acquired Jesperhus Feriepark in Denmark. In 2021 Jesperhus Feriepark had a revenue of SEK 136 million
• In connection to the acquisition of Jesperhus, First Camp Group increased the value of its senior secured bond (maturing in June 2023) by an additional SEK 325 million to a total of SEK 1,360 million
• In December, First Camp Group entered into agreements to acquire the Danish campsites Råbjerg Mile Camping and Klim Strand Camping. The acquisitions, with a combined revenue of SEK 25 million in 2021, were closed in February 2022
• In December, First Camp Group entered into agreement to acquire Norsjø Ferieland. The campsite will be First Camp’s first campsite in Norway. The acquisition, with a revenue of SEK 20 million in 2021, was closed in February 2022

Significant events in the first three quarters

• Entrance into the lease agreement for Löttorp camping (as of 1 January 2021)
• In February, Frigård Camping in Denmark joined the First Camp brand (however, the campsite was operated by another company outside the United Camping AB Group up until November 2021)
• Name change of parent company from United Camping AB to First Camp Group AB in May
• AI-based revenue management system implemented and operational at all Swedish campsites in the chain during the second quarter
• The customer club First Camp Club, which already existed in Sweden, was implemented in Denmark during the second quarter
• During the year, and in particular the first three quarters, there was a continued impact by the ongoing Covid-19 situation, with significantly reduced number of international guests compared to 2019 although there was a partial recovery compared to 2020. The negative effect decreased during the summer and autumn, as cross border travel restrictions were eased with regards to both Sweden and Denmark

Significant events after the reporting period

• In February, First Camp closed the acquisitions of Råbjerg Mile Camping, Klim Strand Camping and Norsjø Ferieland
• In the first weeks of February 2022 both Sweden and Denmark have significantly eased their respective Covid-19 restrictions

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 February 14, 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