28/03/2022

28 March 2022
28 March 2022, Comments Comments Off on Trigano results for first half year 2021/2022 show sales reached 1.5 billion euros (+9.2%)
Trigano results for first half year 2021/2022 show sales reached 1.5 billion euros (+9.2%)

Trigano has just issued a press release with its financial results for the first Half-Year 2021/2022 which show sales have reached €1.5 billion (+9.2%).

In the second quarter of 2021/2022, Trigano recorded sales of €707.4 million, up 8.4% on a like-for-like basis:

Leisure vehicles

In a context marked, on the one hand, by strong demand in Europe and, on the other hand, by a production activity largely disrupted by supply difficulties in wheelbases, Trigano’s motorhome sales remained stable in the second quarter (+0.5%).

The decline in motorhome inventories continued but the volume of deliveries was down by around 10% due to the drop in production following the inability of car manufacturers to supply the ordered quantities of wheelbases. This was offset by the price increases applied progressively from the first quarter onwards in order to meet increases in purchase prices, including wheelbases.

Caravan sales (+35.6%) benefited from a favourable comparable, but also from a good performance in residential caravans and an increase in the average selling price.

Sales of mobile homes (+95.8%) included growth in deliveries in Germany and Benelux and confirmed the rebound of the French market after a season strongly impacted by the consequences of Covid 19 on outdoor accommodation investments.

Sales of accessories for leisure vehicles remained very dynamic and increased by 41.5%. Trigano benefited from the good market performance and was able to attract new customers, particularly in the Netherlands, Germany and Italy.

Leisure equipment

The trailer business continued to grow (+34.5%), in an environment strongly impacted by increases in the sale price of products linked to the rise in raw materials. Particularly significant is the good performance of the utility trailer and boat trailer ranges.

The camping equipment (+26.9%) and garden equipment (+17.2%) activities are in the low season and their evolution over the period does not predict their growth over the year. External growth

On 1 st February 2022, Trigano completed the acquisition of 70% of the capital and voting rights of the French leisure vehicle distribution groups CLC, SLC and Loisiréo. Together, CLC, SLC and Loisiréo employ around 800 people and generated sales of around €420 million in 2021 (i.e. around €350 million in consolidated sales, taking into account Trigano’s sales to these distributors).

Prospects

In a context marked by many uncertainties and despite the increases in product prices, European consumers’ appetite for leisure vehicles remains as strong as ever. Trigano’s order books are reaching record levels, saturating production well beyond the end of the season.

The new van manufacturing site in Bič (Slovenia) has been operational since mid-March. However, Trigano’s capacity to deliver to its customers remains limited by the shortage of wheelbases, which already had an impact on production in the first half of the year and for which Trigano does not anticipate any significant improvement in the short term. The flexibility and resilience of Trigano’s industrial tool will continue to be fully mobilised to adapt permanently to a constantly changing context.

Trigano has no industrial activity in Russia or Ukraine and the group’s sales in these countries are not significant. The supplies likely to be directly impacted by the conflict mainly concern wood-based items that are already multi-sourced outside the affected area. The indirect effects on suppliers of parts or accessories for leisure vehicles are still being assessed, but no significant impact on Trigano’s business has been detected at this stage.

Trigano’s solid financial structure, combined with its strong cash generation, ensures that it will be able to implement actions to meet a demand that is expected to remain strong in the medium term and to seize any external growth opportunity that might be of strategic interest.