Camplify Holdings Limited (‘Camplify’ or the ‘Company’) is pleased to announce strong marketplace performance in Q1 FY22, despite the Covid-19 related restrictions and lockdowns widespread across Australia. During the Q1 FY22 period over 50% of the Australian population was severely impacted by travel restrictions, however, Camplify still managed to experience over 68% growth in GTV, and over 106% growth in revenue for pcp (Q1 FY21).
During the quarter the Company recorded cash receipts from customers of $7.68m for Q1 FY22.
Growth for the period was led by the Northern Hemisphere operations (UK & Spain) with strong growth in all key metrics. Notably, GTV grew in the UK by 152% and Spain saw growth of 2111% pcp (Q1 FY21). The strong recovery of the Northern Hemisphere continued on the back of easing restrictions and free movement of consumers in the UK and Spain.
Operating costs for the quarter increased by 30% compared to Q4 FY21. This increase can be attributed to both seasonality and the Southern Hemisphere lockdown effect. Marketing costs increased by 100% as the UK/EU experienced their peak season, this expenditure resulted in an increase in GTV of 263% compared to Q4 FY21. The investment in longtail acquisition of RV owners in AU in preparation for the post-lockdown activity, also contributed to increased marketing spend.
This additional focus on marketing has been a strategic decision to position Camplify during the Southern Hemisphere winter period, to enable growth throughout the traditionally busier months from Q2 onwards.
During the quarter the Camplify marketplace grew by an additional 19,898 customers and saw the total RV fleet reach 6469
The Effect of Lockdowns on Camplify
During the quarter, the Australian and the New Zealand markets, both experienced widespread lockdowns.
New South Wales implemented a travel restriction lockdown for the Sydney region for the entire Q1 period, this was further extended to the entire state of NSW from the 14th of August for the remainder of the quarter.
In Victoria, a similar path took place, with most of the state in lockdown for 68 days out of 90 in Q1.
The New Zealand market also saw significant rolling lockdowns for the entire period in various parts of both the North and South Islands.
Despite these lockdowns, Camplify in Australia, and New Zealand still experienced positive growth with a GTV increase in Australia of 51.57% pcp (Q1 FY21), and New Zealand 0.04% pcp. This growth was led by the states of Queensland and Western Australia, where travel remained relatively unaffected during the period.
As the vaccine rollout continues, and restrictions are eased the expectation is the Australian and New Zealand markets will return to unrestricted domestic travel. The pent-up demand for safe travel will lead consumers to look for easy holiday options.
Camplify (ASX: CHL) is one of Australia’s leading peer-to-peer (P2P) digital marketplace platforms operating in Australia, UK, New Zealand, and Spain, connecting recreational vehicle (RV) Owners to Hirers. Camplify has built a platform that delivers a seamless and transparent experience for consumers and potential RV Hirers to connect with RV Owners and SMEs with a fleet of RVs. A wide variety of caravans and campervans are available on Camplify.