Mon Perin published their FY 2022 results yesterday, showing a strong 38.7% YoY increase in sales, a 30.8% YoY increase in EBITDA, and a net profit of HRK 24.4m (+61.4% YoY).
Mon Perin, which was listed on the Zagreb Stock Exchange last year under the ticker MONP, reported its FY 2022 results. You can read about the Company’s listing in more detail here. In 2022, Mon Perin reported sales in the amount of HRK 72.5m, representing an increase of 38.7% YoY. Of total sales, the campsite generated HRK 66.5m in revenue from the accommodation, which increased by 42% YoY due to the increase in occupancy rates from individual guests by 19% and the increase in average sales prices by 23%. Individual guests generated HRK 60.7m in revenues in the campsite.
In total, 290,922 overnight stays were realized, an increase of 16% 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 39.7m representing an increase of 61% YoY. The pitches generated HRK 20.7m, a growth of 28% 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 followed by Slovenia with 18% of overnight stays and 21% of arrivals. Slovenia is closely followed by Austria, which takes the third spot with 13% overnight stays and 13% arrivals.
Mon Perin Overnight stays by marketing segment Campsite
Source: Mon Perin, InterCapital research
Mon Perin’s operating costs also increased by 21.3% YoY, primarily due to the rise in material costs, which amounted to HRK 24.2m (+53.7% YoY). Further, labor costs increased by 19.4% YoY. Overall, sales increased in nominal terms more than the costs did, which resulted in an increase in EBITDA of 30.8% YoY, with EBITDA amounting to HRK 40.4m. Growth in EBITDA came on the back of previously mentioned higher sales.
With all stated, Mon Perin noted a net profit of HRK 24.4m, which translated to a YoY increase of 61.4% Consequently, the profit margin amounted to 33.7% noting an increase of 4.7 p.p.
Mon Perin key financials (2022 vs. 2021, HRKm)
Source: Mon Perin, InterCapital research
