First Camp is raising capital to invest in new projects

First Camp, Scandinavia's largest campsite chain, sees ongoing favourable investment opportunities and is embarking on a significant number of investment projects in 2024.

In recent years, First Camp has successfully invested in increasing accommodation capacity, expanding the range of activities, and improving the standards of the chain's 70 destinations in Sweden, Denmark and Norway.

The demand for new accommodation capacity remained strong in 2023, and the company envisions numerous business opportunities ahead. Supported by the main owner, Norvestor, the board of directors of First Camp Group AB has decided to carry out a new issue of shares initially approximately up to 100 million SEK. Norvestor has informed First Camp that Norvestor will guarantee a capital injection of up to a total of 145 million SEK, including the initial issue, depending on First Camp's capital needs. This capital injection will enable substantial investments in the 2024 investment plan and facilitate the management of liquidity fluctuations.

The investment plan includes about ten projects to expand capacity with both new camping pitches and accommodation in studios and cabins. This includes plans for more cabins in Leksand Strand and new camping pitches in First Camp Arcus – Luleå and First Camp Skutberget – Karlstad.

The plan also includes ongoing efforts to transition from fossil-based heating to heat pumps in the First Camp energy supply for campsites that has been acquired in recent years.

"We have a long list of investment opportunities, and similar projects have delivered strong results in the past, even in 2023. It feels very reassuring that our owners continue to have great confidence in First Camp and the opportunities we see in the market. Alongside this investment plan, we are also looking at acquiring more destinations," says Johan Söör, CEO of First Camp.

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 14:25 pm CET on October 24, 2023.

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