Camplify Holdings Ltd. · ASX:CHL
Camplify — H1 FY2024 Earnings Presentation
62 slides from Camplify's earnings presentation, Feb 21, 2024
Slide 1: Camplify Holdings Limited H1FY24 Interim Results and Presentation
Camplify Holdings Ltd A.C.N 647 333 962 42 Union Street Wickham NSW 2293 PO Box 7 Wickham NSW 2293 Ph: 02 4075 2000 ASX Announcement 21 February 2024 Camplify Holdings Limited H1FY24 Interim Results and Presentation Highlights; ● Camplify Holdings Limited (“CHL” or “the Company”) release audited res
Slide 2: ASX Announcement: Results
Camplify Holdings Ltd A.C.N 647 333 962 42 Union Street Wickham NSW 2293 PO Box 7 Wickham NSW 2293 Ph: 02 4075 2000 Attached is a copy of the CHL half-year results presentation for the half-year ending 31 December 2023. Results GTV increased to $89.3m for the half year, representing a pcp growth of
Slide 3: ASX Announcement: Results (continued)
Camplify Holdings Ltd A.C.N 647 333 962 42 Union Street Wickham NSW 2293 PO Box 7 Wickham NSW 2293 Ph: 02 4075 2000 additional fleet to keep up with consumer demand for a New Zealand road trip, resulting in fleet growth of 103% in the New Zealand market. The Australian market was steady for H1FY24,
Slide 4: PaulCamper Acquisition update
Camplify Holdings Ltd A.C.N 647 333 962 42 Union Street Wickham NSW 2293 PO Box 7 Wickham NSW 2293 Ph: 02 4075 2000 PaulCamper Acquisition update Over the past 12 months Camplify has begun the integration of PaulCamper into the CHL business. During this period CHL has now consolidated systems, techn
Slide 5: Outlook
Camplify Holdings Ltd A.C.N 647 333 962 42 Union Street Wickham NSW 2293 PO Box 7 Wickham NSW 2293 Ph: 02 4075 2000 Outlook A key focus for CHL in FY24 is the global rollout of our MGA Myway across all markets. Insurance is a key product offering for customers on both sides of the marketplace. CHL h
Slide 6: For further information please contact
Camplify Holdings Ltd A.C.N 647 333 962 42 Union Street Wickham NSW 2293 PO Box 7 Wickham NSW 2293 Ph: 02 4075 2000 For further information please contact: Media Enquiries Investor Relations Alastair McCausland www.chl.global media@chl.global investors@chl.global +61 (0) 418 837 428 About CHL Campli
Slide 7: Half Year Results Official Presentation
FY24 Half Year Results Official Presentation
Slide 8: Disclaimer & important notices
Disclaimer & important notices The information contained in this presentation or subsequently provided, orally or in writing, to any recipient of this presentation, or any other information discussed at the presentation by or on behalf of Camplify Holdings Limited ACN #647 333 962 (Camplify or the C
Slide 9: Forward looking statements
Forward looking statements The Confidential Information may contain forward looking statements which are statements that may be identified by words such as “may”, “will”, “would”, “could”, “expects”, “intends”, “anticipates”, and other similar words that involve risks and uncertainties. These statem
Slide 10: Acknowledgment of Country
FY24 Acknowledgment of Country Camplify Holdings Limited pay our respects to the traditional owners, their elders past and present and value their care and custodianship of these lands. Camplify Holdings Limited is a proud Newcastle originated company built on the lands of the Awabakal & Worimi peop
Slide 11: Agenda
Agenda 01 Performance by numbers 02 Concierge and Temporary Accommodation Program 03 Key financial information 04 Marketing and Industry overview 05 Innovation and development 06 Acquisition update 07 MyWay Insurance 08 Future outlook 09 Rent a Tent acquisition 10 Summary
Slide 12: Today's presenters
Today’s presenters Justin Hales Andrea MacDougall CHL Founder & CEO CHL Chief Financial Officer • Founder of Camplify. • Experienced CFO for multinational organisations across growth technology, • Previously Head of Customers at education, hospitality, manufacturing ASX- listed QMASTOR (ASX:QML). an
Slide 13: Performance by numbers
FY24 Performance by numbers Section 1
Slide 14: Marketplace Summary
Marketplace $89.3m $24.3m Summary Total transaction value Total revenue +93.5% (pcp H1FY23) +95.4% (pcp H1FY23) ● Period H1FY24 ● GTV growth of 93.5% pcp to over $89.3m Revenue growth of 95.4% pcp to $24.3m $1,693 ● ● Decreased average booking value by 5.9% pcp. Excluding PaulCamper average booking
Slide 15: Marketplace Summary
Marketplace Summary 27.2% 23% Take rate Retained hirers1 ● Retained hirers (repeat customers) now at +0.26% (pcp H1FY23) 23% ○ AU 28%, UK 8%, NZ 11%, ES 3%, DE 25%, AT 20%, NL 16% ● Total RVs on the Camplify platform 16,785. Total RVs on the PaulCamper platform 12,603. 29,388 140,036 ● Total fleet n
Slide 16: Continued global momentum for Camplify RV holidays
Continued global ● Hirers continue to enjoy long trips although average booking length has decreased from the peak in H1FY23 momentum for ● due to high volume of TAP bookings during that time. Average spend per day is increasing, in the GTV per Camplify RV holidays booked day in H1FY24 compared to p
Slide 17: Future bookings
Camplify Markets Future bookings ● Future bookings are bookings that have been booked and paid for via the Camplify markets. ● Due to differences in revenue recognition, no H1FY24 H1FY23 (PCP) PaulCamper bookings are included in this figure. ● These take place in the future generally within the $26.
Slide 18: Market performance
Camplify Markets Market performance The United Market Australia New Zealand Spain Kingdom Camplify markets saw growth in all areas across all markets, GTV Growth 45% 99% 196% 47% we saw slower booking growth in the Australian market and this is due to TAP bookings declining as the rebuild efforts in
Slide 19: Growing hirer & owner community
Number of Cumulative Hirers Number of Cumulative RVs Growing hirer & owner +108% CAGR +68% CAGR (FY21 to H1FY24) (FY21 to H1FY24) community ● Platform growth has been achieved in line with well managed CAC performance due to a combination of network effects, referrals, industry tailwinds and inbound
Slide 20: Customer acquisition costs
Hirer acquisition cost Owner acquisition cost Customer Camplify acquisition costs $14.96 $155.62 PaulCamper SEO: Strong ranking and traffic from target keywords Direct: Traffic growth increasing from greater brand awareness $20.83 $47.21 Social: 260,000 combined social media followers Global Traffic
Slide 21: Concierge and Temporary Accommodation Program (TAP)
FY24 Concierge and Temporary Accommodation Program (TAP) Section 2
Slide 22: Summary: Natural disaster timeline vs TAP bookings
Summary Natural disaster timeline vs TAP bookings ● The current “At Home” program for the Northern Rivers floods is coming to an end ● Increased bookings from insurance companies for bushfire victims ● When natural disasters occur it takes a couple of months for Camplify to receive booking requests
Slide 23: TAP GTV and Camplify Growth excluding TAP
Temporary Accommodation Program TAP GTV and Camplify Growth $9.6m 118% excluding TAP Total TAP GTV recognised (excluding CHL GTV Growth (excluding TAP) normal operations) +0.0% (pcp H1 FY23) ● Future Bookings for TAP decreased from $7.5m in H1FY23 to $2.6m in H1FY24 due to fewer disaster events duri
Slide 24: Key financial information
FY23 Key financial information Section 3
Slide 25: Financial highlights
Financial highlights In three years, Camplify has been able to grow its GTV by almost 3X whilst improving its underlying take rate and gross profit margin. Global Transaction Value Revenue and Take Rate Gross Profit and Margin Total: $24.3m Take Rate: 27.17% +90% CAGR +109% CAGR 61% +98% CAGR (H1FY2
Slide 26: Key operating metrics
Financial Metrics H1FY22 H1FY23 H1FY24 Key operating metrics High GTV growth continues while Gross transaction value (GTV) ($m) 22.9 46.2 89.3 revenue retention increased. GTV hire ($m) 20.2 40.6 82.3 Growth in GTV for H1FY24 reflects Premium memberships ($m) 0.6 1.3 2.5 increases in: ● RV Fleet (19
Slide 27: Income statement Summary Commentary
$ Millions H1FY22 H1FY23 H1FY24 Income statement Summary Revenue 6.8 12.4 24.3 Cost of sales (3.4) (5.2) (9.4) Gross profit 3.4 7.2 14.9 Commentary Gross profit margin 50% 58% 61% Growth in Revenue (95% vs PCP) was driven by: Employee benefits expense (3.2) (4.8) (8.5) ● Hirer Revenue (92% vs PCP) M
Slide 28: Income statement Commentary
$ Millions H1FY22 H1FY23 H1FY24 Income statement Revenue 6.0 12.0 22.5 Hire revenue 4.2 9.0 17.2 Premium membership fees 0.6 1.3 2.5 Other 1.2 1.7 2.8 Cost of sales (2.7) (4.9) (7.7) Commentary Hire COGS (2.1) (3.3) (2.8) Growth in Revenue (95% vs PCP) was driven by: Premium membership COGS (0.5) (1
Slide 29: Cash flow statement Commentary
Cash flow statement Commentary $ Millions H1FY22 H1FY23 H1FY24 ● Change in working capital reflects increased EBITDA (excl one-off costs) (2.8) (1.8) (1.4) payments to suppliers and deposits held from Change in working capital hirers. 1.9 3.9 3.7 (excl one-off costs) ● Government contract for Flood
Slide 30: Balance sheet Commentary
$ Millions H1FY22 H1FY23 H1FY24 Balance sheet Assets Current assets Cash and cash equivalents 19.3 24.9 26.8 Trade and other receivables 4.8 23.4 17.9 Inventories 0.2 0.7 0.4 Commentary Other assets 0.3 0.5 1.0 Total current assets 24.6 49.5 46.0 ● Capital light model. Non-current assets Property, p
Slide 31: Marketing & Industry Overview
FY24 Marketing & Industry Overview Section 4
Slide 32: Marketing growth drivers
Marketing growth drivers Continued cost efficient marketing approach headlined by always on owner and hirer campaigns to efficiently nurture leads through each stage of the funnel from awareness to conversion. Development of the new global CHL marketing team with centres of excellence in brand, grow
Slide 33: Owner Acquisition
Marketing growth drivers Owner Acquisition Refreshed content focused on earning potential in targeted locations to combat cost of living pressures and drive sign up. New rental guarantee launched in NZ. 27
Slide 34: Hirers Demand
Marketing growth drivers Hirers Demand New longer duration focused activity headlined by the Campenomics campaign. 28
Slide 35: Brand partnerships
Brand partnerships CHL’s global marketing strategy continues to focus on building cost effective brand partnerships to drive reach and engagement.
Slide 36: Creator collaborations
Creator collaborations CHL brands continue to focus on influencer marketing to create high quality content for owned marketing whilst building credible connection and engagement across collaborators platforms.
Slide 37: Continued strong earned media
Media presence Continued strong earned media 31
Slide 38: NZ Owner Push
NZ market focus NZ Owner Push With more demand than supply in New Zealand, we launched the 'Save Our Summer' campaign to ensure that would-be road trippers won't miss out on an epic van holiday. Summer Earning Guarantee: $10K for Motorhomes & $7K for Campervans from 15th December 2023 to 31st March
Slide 39: Travel trends Austria EU
Travel trends Source: European Travel Commission - Travel horizon: October 2023 – March 2024 EU Austria EU Netherlands EU Germany The intention for Austrian travel in the next The Dutch intention to travel has relatively German intention to travel has decreased 6 months has increased from September
Slide 40: Travel trends AU
Travel trends Travel trends AU Domestic overnight tourism trends for caravan and camping accommodation for the year 2024 56% At least 72% of Aussies prioritise travel over of people surveyed were planning any other discretionary spend. at least two holidays in 2024 Source: Tourism Research Australia
Slide 41: Travel trends NZ
Travel trends Travel trends NZ Travel intent is growing in NZ, and of the survey respondents from NZMe, 1.7m New Zealanders are looking to travel internationally in 2024 and 3.2m intend to experience their own backyard with a domestic NZ holiday. Kiwis are spending on average $1,600 on domestic trip
Slide 42: Innovation & Development
FY24 Innovation & Development Section 5
Slide 43: CRM Integration Global OnePlatform
Innovation & development FY24 CRM Integration Global OnePlatform CHL embarked on a global consolidation of A new, bespoke, platform shared between both customer management. Combining a number of Camplify and PaulCamper. The creation of a internal systems into a single source of truth for codified so
Slide 44: New in H1 FY24
New in H1 FY24 AI integrations Manage listing Various models are being A significant improvement in reviewed and implemented owning a vehicle on the platform. using AI to better assist CHL The modular approach allows for and enhance customer easier future modification and experience. integrates with
Slide 45: New products & initiatives for FY24
New for FY24 CHL Global OnePlatform Integrating the PaulCamper business into the Camplify platform was a priority for CHL. On 1st February 2024 this migration was completed. Both Camplify and PaulCamper markets are now operating from a global OnePlatform. New products Premium Membership and AER expa
Slide 46: Acquisition update
FY24 Acquisition update Section 6
Slide 47: PaulCamper - Business integration
PaulCamper - Business integration We now have a full 12 calendar months of budget and reporting with the PaulCamper market, and from H2FY24 will have respective comparable figures Reporting in terms of gtv, revenue and growth in the market. It is important to note that in H1FY23 we only had PaulCamp
Slide 48: MyWay Insurance
FY24 MyWay Insurance Section 7
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Slide 50: Achievements
Achievements Insurance software Recruiting efforts EU Membership model An Insurance Suite was purchased MyWay’s team is gradually starting Camper+ was launched in Germany and launched with the first products to form. Operational roles have just as the first test for membership in Germany (e.g. annua
Slide 51: Future outlook
FY24 Future outlook Section 8
Slide 52: The road ahead for H2FY24
Future outlook The road ahead for H2FY24 A key focus for CHL in FY24 is the global rollout of our MGA MyWay across all markets. Insurance is a key product offering for customers on both sides of the marketplace. CHL has made significant steps in the process, and expects to have all active Northern H
Slide 53: Rent a Tent - Acquisition
FY24 Rent a Tent - Acquisition Section 9
Slide 54: Rent a Tent - Summary
Rent a Tent - Summary Rent a Tent is the leading provider of tents to the festival industry in Australia. They supply on average 15 festivals per year only on the East Coast of Australia. The Rent a Tent fleet consists of 1,000 canvas tent units, which are stored throughout the year and transported
Slide 55: Rent a Tent - Strategic rationale
Rent a Tent - Strategic rationale The Acquisition accelerates Camplify’s expansion into the festival and event accommodation, in conjunction with CHL’s TAP and Concierge accommodation programs, and transforms the Company into a leading player in this market. Why expand into a rental fleet Makes CHL
Slide 56: Contracts to be fulfilled in H2FY24
Contracts to be fulfilled FY24 Contracts to be fulfilled in H2FY24: A busy road ahead in H2FY24 for Rent a Tent with contracts to be fulfilled for event accommodation services being provided to long standing clients. As the summer holiday season ends for the Australian market, the event season picks
Slide 57: Summary & appendix
FY23 Summary & appendix Section 10
Slide 58: Key takeaways
Summary & appendix Key takeaways 01 02 Creating a truly global marketplace Consistent high growth and margins Being a leading operator in our key markets of Australia, New Zealand in GTV, revenue, booking value and volumes, with plans to increase and Germany and increasing tourism across all 7 marke
Slide 59: Key risks
Key risks Platform risks As the Company operates a two-sided platform, the Company’s future growth and profitability is dependent on that platform being vibrant and active. The Company’s business relies on both Hirers utilising the platform and on Owners listing RV’s on the platform. The growth of t
Slide 60: Key risks (cont'd)
Key risks Competition The Company recognises the potential risk that existing competitors or new entrants to the market may increase the competitive landscape and have an adverse impact on the financial performance of the Company which in turn, would erode the Company’s revenue and market share. Exi
Slide 61: Key risks (cont'd)
Key risks Compliance with laws The Company operates in a sector where the laws and regulations around its operations are evolving. There is a risk that new laws or regulations and regulations generally may be enacted, or existing laws and regulations may be amended in such a way that impose obligati
Slide 62: Thank you
FY24 Thank you