Trigano: down sharply after quarterly trading update
June 27, 2023 at 07:32 am EDT
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Trigano is down nearly 6%, making it the red lantern of the SBF120 index, following the presentation of sales of just over 1.03 billion euros for its third quarter 2022-23, up 12.3%.
Thanks to strong growth in motorhome sales (+19.8%), the leisure vehicle and equipment manufacturer's sales are up 12.8% on a like-for-like basis.
Claiming a high level of order books, giving it good visibility on its business for the 2023-24 financial year, Trigano is particularly confident in its ability to further improve its results over the short and medium term.
In addition, the Group has entered into exclusive negotiations for the acquisition of a 70% stake in ADS Loisirs, a motorhome distributor based in Rennes which employs around 50 people and has sales of 32 million euros in 2022.
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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%).