Trigano — Earnings Release 2012

Sep 28, 2012

2011/2012 Sales: € 740.4 M

In an economic context less favourable to the consumption of leisure and open-air equipments, Trigano recorded €740.4 M sales in 2011/2012, down 1.2% compared to the previous fi nancial year (-2.8% at constant perimeter).

Sales in the fourth quarter (€159.1 M) are up 3.3% thanks notably to the integration of OCS, Notin, Lider and Gaupen Henger. At constant perimeter, the change in fourth quarter sales (-3.0%) is in line with the annual trend.

Q4	from 06/01/12 to 08/31/12 (€M)	from 06/01/11 to 08/31/11 (€M)	Change (%)	Change at constant perimeter (%)
Leisure vehicles	126.7	128.6	-1.4	-4.8
Leisure equipment	32.4	25.5	+26.9	+6.2
Sales	159.1	154.1	+3.3	-3.0

Financial Year 2012	from 09/01/11 to 08/31/12 (€M)	from 09/01/09 to 08/31/11 (€M)	Change (%)	Change at constant perimeter (%)
Leisure vehicles	631.4	642.3	-1.7	-2.8
Leisure equipment	109,0	106.7	+2.1	-2.9
Sales	740.4	749.0	-1.2	-2.8

Leisure vehicles

Motor-caravan sales have resisted well. Despite a decrease in the fourth quarter (-4.9%), due to the will of distribution networks to reduce the level of their stocks, sales at constant perimeter were down 2.0% only in the fi nancial year.

Caravan sales were down 22.0% in the quarter and 22.8% in the fi nancial year. The increase in living caravan deliveries has only slightly offset lower touring caravan sales in France and in Southern Europe due to the implementation of austerity programmes.

The deliveries of static caravans remained on a good dynamics (+10.1% in Q4), confi rming the good positioning of Trigano's products. Sales are up 23.4% in the fi nancial year.

Finally, with the contribution of OCS, annual sales of accessories for leisure vehicles have increased by 10.0% (+2.8% at constant perimeter).

Leisure equipment

Trailer sales, which have benefi ted in the quarter of the contributions of Gaupen Henger and Lider, have increased by 51.7% (+10.1% at constant perimeter). In the fi nancial year, sales are up 12.1% (+2.4% at constant perimeter).

Camping (-5.4% in Q4; -9.3% in the fi nancial year) and garden (+5.3% in Q4; -8.3% in the fi nancial year) equipments, despite being better oriented in the fourth quarter, have not recovered the decrease of the third quarter, due notably to unfavourable weather conditions.

Perspectives

In line with expectations, the results of the fi rst Autumn fairs and trade shows are slightly down compared to the level of last year, refl ecting the customers' wait-and-see attitude. Backed by a sound fi nancial structure, Trigano is going to pursue its policy of strengthening market shares in 2012/2013, with the continuation of its differentiation strategy based on innovation and through external growth operations. In parallel, Trigano will maintain a prudent and rigorous management strategy in order to adapt rapidly its production capacities to the changes in demand on its main markets.

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