Apollo Sees Light at Tunnel’s End
Apollo Tourism and Leisure, which makes Winnebago, Windsor and Talvor motorhomes plus Coromal and Windsor caravans, has reported an after-tax net loss of $17.9 million for the last financial year, compared to $61.2 million the previous year. The result was off turnover of $283.3 million, some 20 percent down on the previous year.
CEO and Managing Director, Mr Luke Trouchet, said that in the second half of FY20 the company stepped back to critically assess each area of its operation. The re-assessment was to identify changes needed to ensure Apollo could navigate an uncertain future and emerge stronger and more efficient when the pandemic passed.
“I believe there is light at the end of the tunnel and that Apollo is well-positioned to capitalise on the recovery in tourism activity”.
Apollo has reported record recreational vehicle sales demand, substantial forward rental bookings and lower permanent costs; all of which it says will see it will placed to benefit from the reopening of domestic and international borders. It also reported that when domestic borders were open, domestic business significantly improved.
R'With international borders remaining closed for most of the year in our operating markets, we pivoted our focus towards domestic rental markets and pleasingly saw a marked increase in rental revenue from domestic guests, 'Mr Trouchet said. 'In some months, when domestic travel was unrestricted, we achieved higher rental revenues from domestic guests compared to pre-COVID-19 levels”.