Mon Perin published their 9M 2022 results this week, showing a strong 32.6% YoY increase in revenue, a 36.1% YoY increase in EBITDA, and a net profit of HRK 35.5m (+40.2% YoY).
Mon Perin, which was listed on Zagreb Stock Exchange this year under the ticker MONP, reported its 9M 2022 results. You can read about the Company’s listing in a more detail here. In 9M 2022, Mon Perin reported sales in the amount of HRK 70.9m, representing an increase of 38.4%. Of total sales, the campsite generated HRK 65.8m in revenue from the accommodation, which increased by 41% YoY due to the increase in occupancy rates from individual guests by 18% and the increase of average sales prices by 24%. Individual guests generated HRK 60.1m in revenues.
In total, 287,307 overnight stays were realized, an increase of 15% compared to the same period in 2021. Observed by accommodation units and by individual guests at the campsite, the mobile homes generated revenue of HRK 39.2m representing a growth of 60% YoY. The pitches generated HRK 20.5m, a growth of 27% YoY.
Further, the most overnight stays were realized by guests coming from Germany, who has a 45% share in total overnight stays and 36% in arrivals. Germany is closely followed by Austria with 13% of overnight stays and 14% of arrivals. Italy takes the third spot with 6% overnight stays and 8% arrivals.
Mon Perin Overnight stays by marketing segment Campsite
Source: Mon Perin, InterCapital research
Mon Perin’s costs also increased by 29.7% YoY, primarily due to the rise in material costs, which amounted to HRK 19.3m (+59.3% YoY). Further, labor costs increased by 22.1%. Overall, sales increased more than the costs did, which resulted in an increase in EBITDA by 36.1% with EBITDA amounting to HRK 33.5m. As previously mentioned, growth in EBITDA came on the back of higher sales.
With all stated, Mon Perin noted a net profit of HRK 35.6m, which translated to a YoY increase of 40.2% Consequently, the profit margin amounted to 50.1% and increased by 0.7 p.p.
Mon Perin key financials (H1 2022 vs. H1 2021, HRKm)
Source: Mon Perin, InterCapital research
