- 01FY26 EBITDA returned to $0.3m profit, a $10.6m turnaround.
- 02Forward bookings rose 26% to $21.1m, still 17% below last year.
- 03Lower costs lifted gross margin to 63%; quarter-end cash was $11.3m, with no debt.
Camplify Holdings (ASX: CHL) has returned to full-year operating profitability following a business reset, delivering EBITDA of $0.3 million for the 2026 financial year.
The result marked a $10.6m improvement from the previous year’s $10.4m EBITDA loss, with the second half contributing $3.5m in EBITDA and $2.1m in net profit after tax.
The recreational vehicle rental and services group generated $39.2m in annual revenue, lifting its gross profit margin to 63% and increasing premium membership fees by 38%.
At its annual general meeting, management outlined plans to sustain profitability in 2027 while rebuilding growth through its protection business, memberships, and distribution partnerships.
Lower Costs Help Margins
Camplify attributed the earnings turnaround to a structurally lower operating cost base and a shift towards higher-margin revenue rather than lower-margin transaction volumes.
Employee and marketing expenses fell significantly following restructuring completed in the first half, while investment in automation and technology is intended to support expansion without restoring previous overheads.
“We stepped the business down to a lower operating cost base and held our margins—every major cost line finished the year structurally lower, [and] employee and marketing costs came down significantly,” founder and chief executive officer Justin Hales said.
“Our investment in automation, data, and technology means we can now scale without rebuilding that cost base.”
MyWay Mutual contributed to the improvement by bringing protection-related economics within the group during its first year of operation, with the member-owned model managing 2,447 claims, approving 99% of them and recording a 68% loss ratio, supporting the higher gross margin.
Forward Bookings Improve
Trading remained weaker in the September quarter as higher fuel prices affected travel demand across Australia, New Zealand, and Europe during July and August.
Forward bookings rose 26% during the quarter to $21.1m at 30 September, although they remained 17% below the corresponding year-earlier level as customers increasingly booked closer to departure.
Gross transaction value (GTV) fell 27% from a year earlier to $26.4m, although that was an improvement on the 29% decline recorded in the June quarter.
In Australia, the group’s largest market, GTV declined 4%, while core revenue across the business decreased 16% to $6.65m.
Operating cash flow reached $1.4m in the quarter, with staff, administration and marketing expenses at or slightly below budget and closing cash of $11.3m against no debt.
Retail Membership Expansion
Camplify has launched Club Camplify as a retail membership offering beyond its rental marketplace, with services already expanded to include roadside assistance.
Its partnership with JB Group is moving from a pilot to a full network rollout under which every new caravan sold across the group’s brands will carry a complimentary Club Camplify membership.
A separate arrangement with the New South Wales National Parks and Wildlife Service will enable caravan, campervan, and camper trailer hire and set-up at 16 national park campgrounds.
The group is targeting full-year positive EBITDA and operating cash flow in 2027, alongside cost-effective growth in core markets and faster MyWay Mutual claims processing.
Management intends to retain the reset cost structure while developing member services and monitoring booking momentum through the Australian and New Zealand summer.
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