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Trigano — Earnings Release 2011
Jan 4, 2011
1717_10-q_2011-01-04_c28acfe9-0cf9-4ff4-bfbf-07e4dafbd41c.pdf
Earnings Release
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2010/2011 First Quarter Financial Information
During the fi rst quarter of 2010/2011 fi nancial year, Trigano sales, boosted by motor-caravans (+12.5%), pursued their growth and reached €185.9 M, up 8.7%.
| in €M | from 09/01/10 to 11/30/10 |
from 09/01/09 to 11/30/09 |
Change (%) |
|---|---|---|---|
| Leisure vehicles | 169.3 | 153.8 | +10.1 |
| Leisure equipment | 16.6 | 17.2 | -3.6 |
| Sales | 185.9 | 171.0 | +8.7 |
Leisure vehicles
The leisure vehicles activity confi rmed its favourable momentum. Sales of motor-caravans (+12.5%) and caravans (+7.9%) have been driven by the success of 2011 ranges, despite the disruptions caused by the national social movements that affected the French production units and limited production volumes below forecasts.
The deliveries of static caravans (€1.4 M) remained stable compared to the fi rst quarter of last year, while the level of accessories sales (-3.7%) do not allow in the low season to have an indication on its evolution in the full year.
Leisure equipment
The trailers activity (-13.1%) was affected by a decrease in traditional pre-season billings. Due to the implementation of LME law that reduces the terms of payment, distributors postponed part of their orders to the end of winter. Camping equipment (+22.0%) and garden equipment (+20.1%) activities are in low season, and their performance is therefore not signifi cant.
Financial situation
Trigano's activity in the fi rst quarter has had no signifi cant impact on its fi nancial structure. In particular, the continuation of the actions to control the evolution of working capital requirements as well as the improvement of the results allowed containing the level of net debt at about €17 M (€108 M as of 30 November 2009).
Prospects
The ramp-up of manufacturing in order to meet the increasing demand of leisure vehicles should translate into an acceleration of sales growth in the coming months. The order book in volume terms at end November remains strong (+23.4% in motor-caravans and +4.9% in caravans compared to 2010). This increase in activity combined with the improvement of productivity linked to the increase in the size of production lots, should lead to an improvement of the results in 2011.
contact Rym Bel Kefi-Rougnon phone: +33 1 44 52 16 52 [email protected] www.trigano.fr
2011 Second quarter sales will be disclosed on 30 March 2011