25/03/2020

25 March 2020
25 March 2020, Comments Comments Off on Trigano 2019/2020 First Half-Year Sales: 1.2 Billion Euros (+2.3%)
Trigano 2019/2020 First Half-Year Sales: 1.2 Billion Euros (+2.3%)

According to the press release issued by the Trigano Group on 18 March 2020 relating to 2019/2020 First Half-Year Sales, Trigano achieved sales of € 603.4M in the second quarter of 2019/2020, up 7.3 percent at constant scope and exchange rates:


Restatement of perimeter effect of newly consolidated entities consists of:
for entities entering the consolidation scope in the current year, subtracting the contribution of the acquisition from the aggregates of the current year;
for entities entering the consolidation scope in the previous year, subtracting the contribution of the acquisition from September 1 of the currentyear, until the last day of the month of the current year when the acquisition was made the previous year.
No entities left the consolidation scope during the periods mentioned in this press release.
** Restatement of the foreign exchange effect consists of calculating aggregates for the current year at the exchange rate of the previous year.

Leisure vehicles
The European leisure vehicle markets continued to grow in the first half of the year with the exception of the Scandinavian and British markets, which remained depressed, affected by the introduction of high taxes on CO2 emissions. Activity in the second quarter was marked by the total or partial resolution of problems of vehicles type-approval, chassis availability and refitting of certain plants encountered in the previous months. Sales of motorhomes (+ 10.6%) returned to a high pace of growth, while those of caravans (-3.2%) were slightly down compared to the previous year.
Deliveries of static caravans (-7.9%) were affected by the late receipt of orders from some campground managers. Finally, sales of accessories for leisure vehicles (+ 9.7%) benefited from the market dynamism in Netherlands and Germany.

Leisure equipment
Trailers activity (+ 4.9%) remained well oriented, camping equipment (-38.2%) and garden equipment (+8.3%) are in low season and changes in their sales in Q2 are therefore not significant.

COVID-19
The activity of Trigano will naturally be impacted by measures of closure of non-food businesses across a large part of the European territory, as well as by containment measures. Most of production units have been put into reduced activity or temporarely closed.
The experience acquired during the 2008 economic crisis will enable Trigano to take the appropriate measures to emerge strengthened from this ordeal and to be able to restart quickly production in order to satisfy a high order backlog. The financial strength of Trigano is also a fundamental asset in this crisis period.

Outlook
Excluding the influence of exogenous phenomena, Trigano’s prospects on the main markets are positive. Indeed, motorhomes are experiencing a significant expansion in the important markets and the fences corresponding to taxes based on CO2 emissions have been completely removed in United Kingdom and should be largely lifted in Sweden. The leisure mode made possible by motorhomes is an individual mode which avoids collective means of accommodation and transport. This gives motorhomes a decisive advantage over other means of leisure and this will be especially true after the end of the epidemic that we are experiencing.
The very positive results of sales to the public in January and February 2020 illustrate this. Trigano will continue to implement all internal growth operations that have been initiated and will seize any acquisition opportunity corresponding to its external growth policy.

APPENDIX
Breakdown of sales by product category