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Demands remain strong, says annual report

Camplify weathers the 'COVID storm'

Justin HalesBy Dennis Amor
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CARAVAN and campervan sharing platform Camplify has reported strong financial results despite the pandemic.

"As a business with a culture driven by innovation and change, Camplify has weathered the COVID storm well," chief executive and founder Justin Hales (pictured) writes in the company's annual report.

The NSW-based company also has operations in Britain, Spain and New Zealand, but Australia remains its key market.

The report shows that results for the 2020-2021 financial year saw a total gross transaction value of $29.6 million, representing a pcp growth of 158 percent compared to the previous year.

Revenue saw strong growth in the Australian market with a result of $7.4 million, representing pcp growth of 165 percent.

The report said that despite experiencing 10 regional lockdowns and regular border restrictions, its Australian operations had seen strong demand and growth.

The clear sign of people wanting to travel and utilise Camplify's service was a "strong indicator" of future performance, it said.

And with a growing fleet, the company would be well positioned to deliver when Australian travellers returned to a restriction-free border environment.

Mr Hales said Camplify's Australian and New Zealand premium membership had grown by 971 members to a total of 2036, with a recurring revenue subscription of $1.4 million annually.

'Lockdowns have a
path to being lifted'

With the rollout of vaccine programs in all its key markets continuing at rapid rates, signs of restricted free domestic tourism remained strong.

"Although localised lockdowns and government restrictions remain in place in certain markets in Australia, these lockdowns have a path to being lifted as the vaccine rollouts continue," he said.

As COVID variants continued to develop, a return to pre-COVID unrestricted international travel seemed some time away.

"Camplify has shown its ability to present customers with a self-contained, self-managed holiday solution through its extensive distribution of RVs," Mr Hales said.

"Demand remains strong in the market for both rental and purchasing of RVs in all markets.

"As restrictions ease and consumer confidence grows, Camplify is well positioned to continue its growth patterns and service our growing customer base and overall market."

The company was pleased with the strong support shown by customers booking future travel and securing their plans for the next financial year, he said.

It would continue to build on these future bookings with additional marketing campaigns in all markets.

"Due to our recent capital raise process, Camplify will be continuing to invest in marketing efforts to grow both our RV rental fleet and holidaymakers looking to rent from our network," he added.

Chairman Trent Bagnall said it was clear that Camplify was building "a remarkable business" which would result in a highly scalable global company.

"The board and management team have high expectations and the results during the FY21 year demonstrate that our business model can deliver on that promise," he said.

"Particularly pleasing has been the rapid top-line GTV (gross transaction revenue) and revenue growth while maintaining excellent take rates and gross margins.

"The business  ̶  led by our CEO Justin Hales  ̶  continues to be agile and innovative, expanding into new markets and bringing new products to our customers.

"Our customers, led by our premium members, are the strength of Camplify and we continue to look to improving customer experience and building increased loyalty."


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the prior written permission of Dennis Amor.

Copyright 2005 Dennis Amor
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