Communications

In a letter dated July 24, 2024, Lodgyslife AG informed the district of Sankt Wendel of the following excerpts

"We had initially decided to continue examining the realization of Camping Lodge AG even after the commitment period had expired.

As you are well aware, we have already implemented numerous measures for the takeover of the campsite. These include the establishment of two local limited companies and the performance of a technical due diligence by external experts on the properties to be acquired. The latter result in particular led to the clear assessment that the investments in the campsite called for in the invitation to tender must serve to a significant extent to maintain or restore the value of the properties to be acquired on the campsite, for which they are then to be purchased, and not to actually increase their value. In other words, the model stipulates that we acquire properties at full value, but that we must first create this value ourselves.

It became clear that the total investment required for the realization of a commercially sustainable campsite operation would prove to be massively too high, so that the takeover would be problematic even with the further reservations demanded.

We are convinced that at the time of the invitation to tender, the district was not aware of the scope of the above-mentioned facts, otherwise the same should have been mentioned in all clarity. Nevertheless, we remain very interested in taking over the campsite, provided that the general conditions described above can be adjusted accordingly. Should this not be possible without further ado due to the first tender that has already taken place, we would again participate in a new tender if necessary. Not least because of the considerable costs already incurred and the extensive prior knowledge that we have accumulated."

Frankfurt am Main, 08.03.2024

lodgyslife AG, (WKN: A2LQ71, ISIN: DE000A2LQ710), an investment company focusing on investments in operators and owners of campsites in the DACH region, reports that the takeover of the operation of the Bostalsee campsite will not yet take place for the 2024 season. This is due to delays in the conclusion of the hereditary lease agreement with the district of Sankt Wendel.

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Camping Lodge AG, a wholly owned subsidiary of lodgyslife AG, was awarded the contract to operate the campsite by the district of Sankt Wendel in May 2023 and subsequently founded Camping Lodge Bostalsee GmbH, based in Püttlingen.

The subsequent due diligence led to some surprises. For example, the district took significantly longer than originally announced to clear up existing long-term contractual relationships. At the same time, the detailed technical evaluation of the existing buildings revealed a significantly higher investment backlog due to a lack of maintenance. As a result, the district was unable to offer a land charge that was even close to the amount of investment required.

Although the district's room for maneuver is severely limited due to public procurement law, the parties are trying to find a solution within the next few weeks.

Accordingly, the parties have agreed that the district will continue to operate the campsite unchanged for the coming season. However, if a new invitation to tender has to be issued, Camping Lodge Bostalsee GmbH will participate again.

We remain convinced of the potential of this beautiful campsite and continue to be prepared to leverage it through our operating concept and the associated five-year investment plan. Both can only be achieved on a sound and economically feasible basis, which must be established.

Frankfurt am Main, December 5, 2023 - With the acquisition of AZUR Freizeit GmbH, Stuttgart, lodgyslife AG becomes one of the largest campsite groups in the German-speaking region and signs a substantial revolving credit facility to support further growth.

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The Frankfurt-based lodgyslife Group is taking over the parent company AZUR Freizeit GmbH and five campsites with around 1,600 pitches and 72 rental accommodations in the popular southern German tourist regions of Bavaria and Baden-Württemberg. The established AZUR brand will be retained and expanded. The employees will be kept on. The new owner, which already owns Camping Lodge, one of the leading Swiss brands for camping vacations, will thus become one of the largest operators of campsites in the German-speaking market. The Rio Vantone campsite on Lake Idro in Italy is not part of the transaction.

"By taking over the AZUR Camping brand in Germany, we are establishing our position in the strategically important German camping market," says René Müller, co-founder of the Group, "Camping as a form of vacation has been experiencing strong growth, and not just since coronavirus. Camping is part of the outdoor megatrend, as the continued strong overnight stay figures at German campsites show."

With the acquisition of the AZUR campsites in Altmühltal (Kipfenberg), Regensburg, Auwaldsee (Ingolstadt), Wertheim and Sonnenbühl on the Swabian Alb, lodgyslife AG is expanding its portfolio to a total of twelve campsites, all in prime locations. The company, which is backed by the two Swiss entrepreneurs Jan Vyskocil and René Müller, is currently the fastest growing company in the camping industry. In Switzerland, the Camping Lodge brand has succeeded in becoming the market leader in just three years. Last year, the number of overnight stays rose by 27%; the current increase is 18% (as at the end of September 2023), which is 14% above the market average.

"I am very happy that it is the financially strong lodgyslife Group that is taking over my company," says Oliver Frank, Managing Director and owner of AZUR, happily about the sale. "The company has set a new forward-looking standard in the camping market in Switzerland under the Camping Lodge brand. The innovative concept with its clear focus on guest satisfaction, quality and sustainability has completely won me over. The same goes for the partnership-based and appreciative approach of the two main shareholders Jan Vyskocil and René Müller," Frank continues. The long-standing head of AZUR will continue to advise the new owner for a few months and support the transition.

"We are proud that Oliver Frank is entrusting us with his company. He is handing over an economically healthy company with a great brand and motivated employees. We will continue to develop his life's work in a respectful and appreciative manner - in line with our philosophy and values," assures Jan Vyskocil.

In future, the company intends to further develop the German market with the two brands AZUR and Camping Lodge. This will open up additional opportunities in portfolio management and the mix of offers. The lodgyslife Group intends to significantly expand its market share in the DACH region in the coming years through further acquisitions and strong organic growth in the number of overnight stays. The efficient platform developed over the past few years serves as the basis for this, on which major synergy effects are achieved in the core areas of digitalization, operations, marketing, finance and HR.

To finance its growth, lodgyslife AG has signed a substantial revolving credit facility. Philip Spahni, Chief Investment Officer, comments: "The fact that lodgyslife is receiving such significant financing, even in today's challenging market environment, in parallel with the acquisition of AZUR, underlines the confidence in our business model and the potential of the camping and outdoor sector. With this capital, we are in a position to consistently implement our ambitious growth plans, invest in our existing locations and offer our guests the best camping experience."

Frankfurt am Main, August 28, 2023 – Camping Lodge AG, a wholly-owned subsidiary of lodgyslife AG (WKN: A2LQ71, ISIN: DE000A2LQ710), has been awarded the contract to operate the Giessenpark facility, including the campsite, restaurant and outdoor pool, in the picturesque municipality of Bad Ragaz, Switzerland, effective January 1, 2024.  

The announcement was made during a media conference held by the Bad Ragaz municipal council on August 28, 2023, signifying the municipality's confidence in Camping Lodge AG to manage this cherished recreational facility. The Giessenpark campsite, which operates year-round, provides an enchanting setting, nestled close to the banks of the Rhine and situated within the heart of the local recreation area. This locale holds significant economic and touristic value for the municipality of Bad Ragaz, catering to local residents, day visitors, and hotel guests alike.

Camping Lodge AG emerged as the preferred choice among seven competitors during the rigorous tendering process. The municipal council of Bad Ragaz was particularly impressed by several key factors, including the company's streamlined decision-making processes, commitment to sustainable practices, and willingness to invest in the site's development. Furthermore, Camping Lodge AG's cooperative approach throughout the selection process and their expressed commitment to a long-term partnership played pivotal roles in their selection.

Municipal councilor Göpfi Triet expressed his confidence in the collaboration, stating, "With Camping Lodge AG, we have secured a dependable partner who will enhance the Giessenpark facilities and contribute significantly to the appeal of Bad Ragaz."

Jan Vyskocil, representing Camping Lodge AG, shared insights into the operational plans, stating, "For the operation of the entire Giessenpark facilities, comprising the restaurant and campsite, we will establish an independent operating company. This strategic decision should ensure that a substantial portion of economic value generated remains in the local municipality."

This contract to operate the Giessenpark site marks a milestone in Camping Lodge AG's strategic expansion within the Swiss camping market. As of January 2024, Camping Lodge AG's portfolio will encompass eight premium campsites across Switzerland and Germany, underscoring the company's commitment to offering exceptional camping experiences across the DACH-region.  

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For media inquiries and further information, please contact:

Pascal Urscheler  

+41 76 349 58 28

pascalu@camping-lodge.com

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Frankfurt am Main, 22.05.2023. lodgyslife AG, (WKN: A2LQ71, ISIN:DE000A2LQ710), an investment company focusing on investments in operators and owners of campsites in the DACH region, is pleased to report the acquisition of the first campsite in Germany. Camping Lodge AG, a wholly owned subsidiary of lodgyslife AG, has been awarded the contract by the district of Sankt Wendel to operate the Bostalsee campsite as of January 1, 2024.

In its meeting of 15.5.2023, the district council of Sankt Wendel awarded Camping Lodge AG the contract for the operation of the Bostalsee campsite from 1.1.2024. The campsite has an area of 14 hectares with a total of 450 pitches (tourist and permanent tenants). Furthermore, there are 3 rental caravans, 2 rental tents, 5 rental accommodations for families and a large tent meadow. The campsite is located in the touristically important region of Saarland in the middle of the Saar-Hunsrück Nature Park on the 120-hectare Bostalsee. 

A ground lease contract will be concluded for a period of 30 years with an annual ground rent of EUR 105’000.00 in favor of the district. The purchase price for buildings and facilities amounts to EUR 3.4 million. An independent operating company will be established on site to operate the campground. Over the next five years Camping Lodge AG will invest around EUR 4.4 million in the campsite for value accretive revitalization and expansion.

Udo Recktenwald, District Administrator of the Sankt Wendel district: "With several interested parties, Camping Lodge AG's veritable offer met all the conditions we set. In addition, the company presented us with a convincing operating concept in which sustainability, family-friendliness and regional roots play an important role. Details are still being clarified, but one thing can already be said: the campsite will not only be retained, it will also be upgraded in terms of quality. A significant development in our tourism region."

Jan Vyskocil and René Müller, both management board members of lodgyslife AG as well as Co-Chief Campers of Camping Lodge AG: "We thank the district of Sankt Wendel for the trust put in us and are extremely pleased to realize our first campsite in Germany with the wonderful site at the Bostalsee. The Bostalsee is internationally known and popular and we feel obliged to preserve this place in the heart of Europe in its character and to lead it into a sustainable future. It makes us particularly proud, that we were able to prevail with our operating concept against other well-known competitors in a Europe-wide tender."

Camping Lodge AG already operates six campsites in Switzerland. The acquisition of the Bostalsee campsite is a first important step in the company's expansion plans in the German-speaking region.

The Management Board

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Frankfurt am Main, February 13, 2023. Ferax Capital AG, (WKN: A2LQ71, ISIN: DE000A2LQ710), an investment company with a new focus on investments in the camping sector in the DACH region, can report that the integration of the Camping Lodge Group is progressing according to plan. The consolidation of the preliminary business figures as of December 31, 2022 shows equity of EUR 11.30 million as well as EBITDA of EUR 3.82 million. The non-camping investments of Ferax Capital AG will be further reduced in order to acquire mainly campsites in Germany with the released funds.

The integration of Camping Lodge AG and its business has already been largely completed. In particular, the administration and finance departments have been coordinated in such a way that the company will be able to use the internal control and management information systems in place at Camping Lodge at Group level as well. To this end, Camping Lodge has harmonized its financial year with that of Ferax Capital AG and switched to the calendar year.

This has allowed a first consolidation of the preliminary business figures as of December 31, 2022. The consolidated balance sheet shows total assets of EUR 26.15 million with equity of EUR 11.30 million or EUR 2.97 per share. The operating EBITDA amounts to EUR 3.82 million, or EUR 1.01 per share.

With the acquisition of Camping Lodge AG, Ferax Capital AG also acquired the acquisition pipeline in Germany as well as the associated expansion concept. These have now been transferred directly to Ferax Capital AG. In return, Ferax Capital AG has decided to completely liquidate its remaining financial holdings and to invest the freed-up funds entirely in the development of the camping business in the DACH region. This includes the acquisition of the first campsites in Germany and the development of a service center for the entire camping group.

Consequently, Ferax Capital AG will not only propose the election of one tourism and one governance expert each to the Supervisory Board at the upcoming Annual General Meeting, but will also put the appointment of the two founders of Camping Lodge, René Müller and Jan Vyskocil, to the Group's Executive Board and a change of name to lodgyslife ag to the shareholders for election. Further details will be published in the invitation to the Annual General Meeting to be issued shortly.

The Management Board

Frankfurt am Main, 01.02.2023. Ferax Capital AG, an investment company focusing on small caps, announces the final figures for the financial year 2022. In 2022, a net loss of EUR 3,026 million was achieved. Accordingly, the forecast of the Management Board was missed.

The loss for the year resulted - as is usual for investment companies - mainly from disposals and valuation changes of investments and from security difference transactions. The total operating performance, which mainly resulted from the securities business, amounted to -0.53 million euros (previous year: 0.39 million euros). As in the previous year, personnel expenses remained constant at EUR 0.02 million. The Company has not employed any staff other than the Management Board for several years. Other operating expenses increased to 0.42 million euros (previous year: 0.10 million euros).

Total assets increased moderately to 8.93 million euros (previous year: 8.69 million euros), while equity amounted to 7.42 million euros (previous year: 7.28 million euros). There were liabilities to banks from Lombard loans amounting to 1.2 million euros (previous year: 0.83 million euros) and other liabilities amounting to 0.22 million euros (previous year: 0.53 million euros). Cash on hand amounted to 0 million euros (previous year: 0.02 million euros). Accruals amounted to 0.09 million euros (previous year: 0.03 million euros). As a result of the complete takeover of Camping Lodge AG, fixed assets increased from 1.22 million euros to 3.17 million euros, while current assets fell significantly from 7.47 million euros to 5.76 million euros.

As a result of the non-cash capital increase in November 2022, the Company's share capital currently amounts to EUR 3,801,600 and is divided into the same number of no-par value shares. There is a capital reserve of 3.62 million euros. The balance sheet equity of the Company amounts to 7.42 million euros, or 1.95 euros per share.

The stock market year 2022 was turbulent, and it became increasingly difficult to achieve the targets set as it progressed. For this reason, the company also made the strategic decision to invest directly in the strong growth market of "camping". The acquisition of 100% of the shares in Camping Lodge AG, Zug/Switzerland, which was completed in November 2022, served as the starting signal. This company is the second largest owner and operator of campsites in Switzerland. Furthermore, the sale of the consulting unit Ferax Capital Beratungs GmbH was completed, which is therefore no longer held by Ferax Capital AG as of the 2022 annual financial statements.

At this stage, the Company does not provide a forecast for 2023. Further information will be published in due course.

The Management Board

Concilium AG, with its registered office in Frankfurt a. Main, has notified us in accordance with Section 20 (1) of the German Stock Corporation Act (AktG) that it no longer owns the fourth part of the shares in the Company.

Frankfurt, January 2023, Ferax Capital AG

The Management Board