FY21 HIGHLIGHTS & CHALLENGES
• Statutory Net Loss After Tax of $7.5M.
• Apollo is well-positioned to capitalise on recovery in tourism activity.
• The COVID-19 pandemic continues to materially impact performance of the Company’s global rental operations, while domestic and international border closures and travel restrictions remain in place.
• Focus on domestic markets has resulted in a marked increase in domestic guest revenue, however, ongoing lockdowns and snap border closures continue to disrupt domestic consumer confidence.
• Strong RV sales globally, as consumers divert international travel expenditure towards local, selfdrive alternatives.
• Liquidity managed through a combination of government support, accelerated fleet sales to “right size” fleet relative to reduced rental activity and lower permanent cost base. Group cash position of $37.8 million and undrawn COVID-19 support facilities of $23.6M as at 31 December 2020 provide stability and foundation for future bounce-back.
• Group debt reduced by $40.6M from 30 June 2020, materially reducing repayment commitments.
• The global COVID-19 vaccine roll-out and decreasing number of active COVID-19 cases in key markets will assist in the reduction of lockdowns and removal of travel bans.
… with recent news that borders are expected to not open for quite a while, domestic tourism is seen as the only option for many. A boost to consumer spending through tax breaks and a stimulatory budget is likely to trickle into other areas of the economy, supporting domestically focused travel stocks. And the state authorities are advertising their attractions heavily
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