Trigano Reports Consolidated Earnings Results for the First Half-Year of 2018
May 13, 2018
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Trigano reported consolidated earnings results for the first half-year of 2018. For the period, sales were EUR 1,096.4 million against EUR 749.1 million for the same period prior year. Current operating profit EUR 104.0 million compared to EUR 52.5 million a year ago. Operating profit was EUR 102.4 million against EUR 69.8 million for the same period prior year. Net income was EUR 72.1 million against EUR 56.6 million for the same period prior year. Half-year results benefited from the strong growth in activity, the continuous improvement in productivity on most sites, the control of general expenses and, of course, the results of the newly integrated companies. Excluding changes in the scope of consolidation, current operating result was up 52.0% to reach EUR 79.7 million. Net debt, traditionally at its high level at the end of the first half-year, reached EUR 160.9 million compared to EUR 24.0 million in 2017), representing 24.5% of equity (4.5% in 2017) and consists mainly (up to EUR 118 million) of medium-term debt related to shares buy back commitments from minority shareholders.
Trigano specializes in the design, manufacturing, and marketing of leisure vehicles and equipment. Net sales break down by family of products and services as follows:
- leisure vehicles (94.5%): motor-homes (78.2% of net sales; Europe's No. 1 automaker; 48,400 vehicles sold in 2022/23; Trigano, Challenger, Autostar, Arca, Chausson, Roller Team, Eura-Mobil, Karmann-Mobil brands, etc.), caravans (7.9%; 14,300 units; Sterckeman and Caravelair), mobile-homes (3.6%; 4,500 units; Résidences Trigano) and other (1.8%). The group also offers vehicle equipment (8.5%; refrigerators, kitchen appliances, screen porches, etc.; Camping-Profi, Euro Accessoires, Clairval, etc.) as well as leasing and financing services;
- leisure equipment (5.5%): primarily trailers (112,100 trailers sold in 2022/23; Erca, Sorel, Trelgo brands, etc.), garden equipment (swings, garden sheds, swimming pools; Abak, Amca, Yardmaster), and campsite equipment (tents, caravan awnings; Jamet, Plisson, etc.).
Net sales are distributed geographically as follows: France (32.6%), Germany (24%), the United Kingdom (10.7%), Italy (6.5%), Belgium (4.6%), Spain (4.2%), the Netherlands (3.6%), Sweden (3.1%), Switzerland (1.5%), Denmark (1.3%), Norway (1.1%) and other (6.8%).