(English) Elämys Group opens offices in Sweden and Norway

Swedish Bernstorp invests in the internationalisation of Finland’s largest private tour operator

Elämys Group, which owns several travel brands, will take the next step in its growth in October when it opens offices in Oslo and Malmö. The Elämys Group comprises Matkapojat, Elämysmatkat, OK-Matkat, Matka-Agentit and the business travel agency Menestys.

In the early stages of the international expansion the Swedish and Norwegian offices will focus on sports travel sales with international sports agreements from Elämys. Elämys is the only official retailer of the Paris Olympics in the Nordic countries.

The internationalization of Elämys is supported by the Swedish investment company Bernstorp Invest, which made its first investment in Elämys at the end of September. The investment includes an option for a significant further investment during 2024.

The Olympics open the way for Elämys abroad

About 15% of Elämys Group’s turnover in Finland is related to sports events and travel, but the importance of sport is growing as the Group moves towards internationalisation. Exclusive rights to sell the world’s biggest sporting events will ensure a competitive advantage and credibility in the tourism market of its western neighbours. In addition to Finland, Sweden and Norway, Elämys is the official retailer of the Paris Olympics in Denmark, Ireland and Luxembourg.

After growth, focus in profitability

Since the turbulent covid years Elämys Group has grown faster than the Finnish travel market, both through acquisitions and organically. Turnover for the financial year ending in July 2023 rose to EUR 44 million. After the growth and technology investments following the acquisition of Matkapojat last year, the company’s profitability has also improved significantly.

Gross sales for the Q3/2023 increased to EUR 14.7 million from EUR 10.2 million in 2022. Adjusted for one-off items, Q3 EBITDA increased to EUR 0.5 million from EUR -0.25 million in the previous year. The gross sales target for the financial year starting in July is EUR 64 million.

Growth has been driven in particular by strong performances from the business travel agency Menestys and Matkapojat. Both have gained market share and grown well ahead of the overall travel market. The improvement in profitability is based on successful cost savings and the strong performance of Matkapojat in particular.

Jussi Viskari, Chairman of the Board of Directors:

Achieving success in a new market is a big challenge., However, the agreements with the biggest rights holders in the sports world guarantee us the peace of mind to start up profitably from the beginning. We will start small but in the longer term we want to grow not only in sport but also in other areas of tourism in the Nordic countries.

Per-Eric Troneus, Chairman of the Board of Bernstorp Invest:

Elämys’ sports expertise, contracts and product portfolio is a combination that cannot be found among competitors in Sweden. The concept of a modern and versatile travel company clearly works in Finland, and we will do everything we can to help Elämys succeed in Sweden and Norway as well. Tourism is a large and growing service industry and we wanted to invest in a company that we believe will be a long-term winner in this sector.

For more information:

Pasi Latva, CEO of Elämys Group:
0400 700 328, pasi.latva@elamysgroup.com

Jussi Viskari, Chairman of the Board of Directors of Elämys Group:
040 584 6425, jussi.viskari@elamysgroup.com

Per-Eric Troneus, Chairman of the Board of Bernstrop Invest:
+46 70 542 4241, per-eric.troneus@bernstorpinvest.se