24/09/2021

24 September 2021
24 September 2021, Comments Comments Off on Trigano fourth quarter 20/21: sales up 4.9%
Trigano fourth quarter 20/21: sales up 4.9%

In the fourth quarter 2020/21, Trigano achieved sales of €659.4 M, up 4.9% compared to the previous financial year which had benefited from a very strong recovery after the end of confinements in Europe.

In the fourth quarter, Trigano was once again able to mobilise its teams and production capacities to meet sustained demand for all its product categories, despite supply difficulties which led in particular to the shutdown of motorhomes production lines for several weeks.

At constant scope and exchange rates, sales of motorhomes (+2.1%), caravans (-1.1%), trailers (+0.7%) and camping equipment (-4,5%) remained close to their record level reached in the fourth quarter 2020. Deliveries of mobile homes (-8.3%) and garden equipment (-22.2%) did not repeat their performance of the last year, but are at a higher level than in the fourth quarter 2019. Finally, sales of accessories (+11.5%) remained on a very good dynamic confirming the strong interest of the European public for leisure vehicles.

Over the financial year, Trigano achieved record sales with strong growth in each of its business segments:

Thanks to the strong increase in its production capacities, in particular in the campervans production, Trigano realised motorhomes sales of 2.2 billion Euros (+ 36.1%) and gained market shares.

Sales of caravans (+21.0%), accessories for leisure vehicles (+79.0%; +35.2% at constant scope), trailers (+27.3%), camping equipment (+ 7.5%) and garden equipment (+ 18.0%) also remained very dynamic over the year, while those of mobile homes (-6.4%) were affected by the wait-and-see attitude of campsite managers linked to the health crisis.

External growth
The process of acquiring the French distribution groups CLC, SLC and Loisiréo is continuing. The opinion of the competition authorities in France is expected to be issued in the coming weeks. This transaction, which is fully in line with Trigano’s development strategy through external growth, would allow it to continue investing in the leisure vehicle distribution business in Europe and complete its customer service offering.

Outlook

The new ranges of motorhomes were particularly well appreciated by customers of the first national shows (Düsseldorf and Parma) where Trigano achieved record levels of sales. Order books saturate production capacities for the 2022 season.

The supply tensions which characterised last season continue into the start of financial year 2022. In particular, for several weeks, there have been new delays in deliveries of wheelbases linked to the global shortage of semiconductors. These difficulties should result in the shutdown of some production lines of motorhomes for several days and production delays estimated at this stage at nearly 2,000 units. As in 2021, Trigano applies a sourcing policy aimed at achieving the highest level of production. It maintains permanent contact with its suppliers, including Stellantis, in order to adapt its industrial facilities to the quantities delivered. Trigano is implementing action programs that will allow it to increase production as soon as the shortage situation is solved.

Dividend

Given a very high level of cash – over € 500 million at the start of September – the management board of Trigano decided to pay an interim dividend of € 3.20 per share for fiscal year 2021.
The coupon will be detached from the share on September 28, 2021 and the payment will be made from September 30, 2021.

Breakdown of sales by product category