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Trigano — Earnings Release 2011
Mar 30, 2011
1717_iss_2011-03-30_beea1e54-fa85-4063-826f-ddbf861f8f16.pdf
Earnings Release
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2010/2011 Second Quarter Sales: €172.4 M
Trigano's activity maintained its growth pace in the second quarter: 8.9%, driven by the good performance of motor-caravan sales (+12.9%).
| in €M | 2011 Financial year |
2010 Financial year |
Change (%) |
|
|---|---|---|---|---|
| Leisure vehicles | Q1 (Sept-Nov) | 169.3 | 153.8 | +10.1 |
| Q2 (Dec-Feb) | 152.5 | 141.0 | +8.2 | |
| Half-Year | 321.8 | 294.8 | +9.2 | |
| Leisure equipment | Q1 (Sept-Nov) | 16.6 | 17.2 | -3.6 |
| Q2 (Dec-Feb) | 19.9 | 17.3 | +15.2 | |
| Half-Year | 36.5 | 34.5 | +5.8 | |
| Half-Year Sales | 358.3 | 329.3 | +8.8 |
Leisure vehicles
Leisure vehicle sales showed contrasted trends.
On a motor-caravan market expected to be stable in Europe during the 2010/2011 season, Trigano confi rmed its progression (+12.7% in the 6 fi rst months of the fi nancial year) and should gain market shares, particularly in the UK, Italy and France.
Sales growth would have been higher without a few logistic issues that led to postpone the delivery of vehicles to the fi rst days of March for an amount slightly above €5 M.
The deliveries of static caravans (€4.7 M) were close to the record level reached last year while those of caravans were down 7.8%, cancelling the advance taken in the fi rst quarter.
Sales of accessories for leisure vehicles, in low season, were stable compared to last year (-0.7% in Q2).
Leisure equipment
Due to the seasonality of leisure equipment sales to the public, their evolution in the fi rst halfyear is not refl ecting underlying market trends.
As expected, the increase in trailer sales in Q2 (+7.5%) offset the decrease recorded in the fi rst quarter owing to the postponement of pre-season orders due to the implementation of the LME Law.
Camping equipment remained stable (-0.7% in Q2) while garden equipment (+43.2% in Q2) continued to benefi t from larger presence in distribution outlets as well as from robust online sales.
Other informations
Trigano's Tunisian units were hit during the quarter by disruptions linked to the political events that occurred in January. Thanks to the strong commitment of employees, these units could deliver with no major shortage of supply the business-units that are their clients.
A fi re destroyed part of the Pomezia (Italy) business-unit's production means in February. The factory is expected to be restarted in June. Given the sales level of this entity (€16 M in 2010) and the insurance coverages of Trigano (direct damages, operating losses) this event should not have signifi cant impact on Trigano's 2011 accounts.
Prospects
The increase in activity recorded since the beginning of the fi nancial year will translate into signifi cantly improved results from the fi rst half-year.
contact Rym Bel Kefi-Rougnon phone: +33 1 44 52 16 52 [email protected]
2010/2011 First Half-Year Results will be disclosed on 29 April 2011