15 May 2019
15 May 2019, Comments Comments Off on Trigano sales up 3.7% in first half-year 2018/19
Trigano sales up 3.7% in first half-year 2018/19

Trigano, a leading leisure vehicle manufacturer in Europe, has announced sales of € 1,136.8M in the first half-year 2018/19, up 3.7 percent (+0.1[ercent at constant scope) while maintaining a good level of profitability despite economic and political uncertainties in Europe.

Leisure vehicle sales were slightly down from last year’s record level (-0.5 percent at constant scope). Motorhomes dealer networks pursued their significant inventory reduction policy throughout the European territory in anticipation of the arrival of motorhomes meeting new motorisation standards (Euro 6d). However, registrations increased overall in Europe and Trigano further improved its market share.

Sales of leisure equipment (+7.5 percent) were affected by the wait-and-see attitude of French distributors resulting from a decline in points of sale traffic related to the « gilets jaunes » (yellow jackets) crisis, but they benefited from the supply of stewardship markets.

Consolidated current operating profit reached € 100.2M and represents 8.8 percent of sales (9.5% in 2017/2018). Trigano managed to maintain a good level of profitability despite the lower productivity of some Business Units faced with lower activity levels and the increase of some promotional costs.

Considering a stable financial result at € – 6.1M, a corporate tax expense of € 23.0M and the positive contribution of equity affiliates (€ 1.5M), the net consolidated result amounted to € 72.0M (€ 72.1M in 2018/2019) and represents € 3.73 per share.

Furthermore, as previously announced, the level of investment was down compared to the first half of the previous financial year (€ 19.9M versus € 31.1M in 2017/2018).

Trigano maintained a solid financial structure: net debt, traditionally at its peak at the end of the first half-year, reached € 174.3M (€ 160.9M on 2018/02/28), or 21.6% of consolidated shareholders’ equity (24.5 percent on 2018/02/28).

With production units located in 6 countries (France, Italy, Germany, United Kingdom, Spain and Slovenia), Trigano manages 25 leisure vehicle brands distributed throughout Europe.

Trigano first commercialised camping equipment in 1935, the activity was later extended to the distribution of caravans, followed by motorhomes and mobile homes. Today, Trigano has two main activities: leisure vehicles (nearly 90% of sales this year) – caravans, motorhomes, mobile homes – and leisure equipment – camping equipment, garden equipment, trailers.

Trigano brands include : Auto-Sleepers (English brand of motorhomes), Adria (Slovenian brand of motorhomes, caravans and mobile homes), Sun Living (Slovenian brand of motorhomes) and Hubière (French brand of trailers). Its six main caravan brands include: Adria, Caravelair, Sterckeman, La Mancelle, Jamet and Trigano. 

Trigano’s development is based on a combination of acquisitions and organic growth driven by the momentum in its main markets.