23/04/2024

23 April 2024
23 April 2024, Comments Comments Off on Trigano reports robust growth in first half of 2023/2024 with revenue increasing 18.4%
Trigano reports robust growth in first half of 2023/2024 with revenue increasing 18.4%

Trigano, a leading manufacturer in the leisure vehicle market, has reported a significant increase in sales for the first half of the 2023/2024 fiscal year, with total revenues reaching €1.9 billion, marking an 18.4% rise from the previous year. This growth has been predominantly driven by a robust performance in the motorhome segment, which saw a remarkable increase of 26.4%.

Key Financial Highlights
In the detailed financial breakdown, Trigano’s leisure vehicles, which include motorhomes and caravans, recorded sales of €1,827.5 million for the half-year, a 19.6% increase from €1,528.5 million in the previous year. This surge is attributed mainly to a significant improvement in the logistics chain and the end of shortages of rolling bases, which bolstered motorhome sales volumes by over 20%.

Contrastingly, the caravan sector faced challenges, with sales plummeting by 29.4% due to rising interest rates affecting customer purchasing power. The accessories segment for leisure vehicles also experienced a decline, dropping by 6.2%, influenced by a cautious approach from retailers adjusting to normalized wholesaler inventory levels during the winter.

Leisure Equipment Sector Performance
The leisure equipment sector painted a mixed picture. While trailer sales grew by 8.8%, benefiting from strong demand across all segments, particularly luggage trailers, the broader category of other leisure equipment, including camping and garden equipment, declined by 35.8%. This drop, however, is viewed as less significant due to the seasonal nature of these products.

Strategic Developments and Future Outlook
Looking ahead, Trigano is optimistic about the ongoing calendar year. The company notes a positive trend in the motorhome market in Europe, particularly with first-time buyers, and reports high attendance at fairs and regional shows. These factors are contributing to a robust spring sales period, particularly for new vehicles and traditional motorhomes.

Trigano’s dealership network has successfully rebuilt inventories, positioning them well for sustained customer deliveries in the second half of the year. The company’s order books are full, indicating strong production capacity utilization for the 2023/24 season.

Financial and Operational Strategy

The normalisation of logistics flows – still in progress – is resulting in a transitory increase in working capital requirement, which is enhanced by the development of Trigano’s retail business (Libertium and Marquis) and by the seasonality of the activity. Furthermore, the quality of margins makes it possible to consider a good growth in operating income in the first half of 2024.

Investment and Expansion Plans

Buliding on its solid financial structure, Trigano will continue to invest in the distribution of leisure vehicles and will consider any external growth operation that would enable it to strengthen its leadership in the major markets for the manufacturing of leisure vehicles and their components, accessories for leisure vehicles and trailers in Europe.

Finally, the acquisition of the company BIO Habitat is still being reviewed by the Competition Authority in France.