Trigano — Earnings Release 2023

Mar 28, 2023

2022/2023 Second Quarter Sales: € 827M (+13.2%)

Trigano's sales grew by 13.2% in the second quarter of 2022/2023 to € 827.2M, driven by the increase in the motorhome business (up 13.9% on a like-for-like basis). 2023 first half-year sales benefited from the expansion of the scope of consolidation for € 101.4M and reached €1.6 billion (+6.1%).

In €M (Non-audited figures)
		2023 Financial year	2022 Financial year restated	current change	of which scope effect *	of which exchange rate effect	Change at constant scope and exchange rates	2022 Financial year released
Leisure	Q1 (Sept-Nov)	742.5	729.7	+1.8%	+8.5%	-0.2%	-6.5%	729.7
vehicles	Q2 (Dec-Feb)	786.0	672.6	+16.9%	+5.9%	-0.5%	+11.5%	649.4
	Half-Year	1,528.5	1,402.3	+9.0%	+7.2%	-0.4%	+2.1%	1,379.1
Leisure	Q1 (Sept-Nov)	39.8	57.1	-30.3%	-	-0.5%	-29.8%	57.1
equipment	Q2 (Dec-Feb)	41.2	58.0	-29.0%	-	-0.5%	-28.4%	58.0
	Half-Year	81.0	115.1	-29.6%	-	-0.5%	-29.1%	115.1
Q1 Sales		782.3	786.8	-0.6%	+7.8%	-0.3%	-8.2%	786.8
Q2 Sales		827.2	730.6	+13.2%	+5.4%	-0.5%	+8.3%	707.4
Half-Year Sales		1,609.5	1,517.4	+6.1%	+6.7%	-0.4%	-0.2%	1,494.2

* Sales of CLC, Loisiréo, SLC were consolidated from 1st February 2022

2021/22 Second quarter sales have been restated by € 23.2M to take into account the effects of these acquisitions

Leisure vehicles

Due to improved deliveries of wheelbases, Trigano's motorhome production increased nearly by 10% in volume, enabling the company to partially recover the delay of the first 2022/23 quarter. On a like-for-like basis, motorhomes sales increased by 13.9%.

Caravan sales remained at a good level and increased by +2.2% on a high comparable basis. Sales of mobile homes (+50.2%) benefited from the catching up of undelivered vehicles in the first quarter and confirmed the good market dynamics.

The contributions of Sifi and the sales of accessories to individuals by the Libertium network offset the drop in Trigano's wholesale business resulting from the destocking carried out by distributors during this winter. Overall, sales of accessories for leisure vehicles decreased by 5.2%.

Leisure equipment

In the second quarter of 2022/23, a period of low activity at points of sale, the trailer division was marked by a strong destocking of its distribution networks. Sales were down 32.8%.

The changes in sales of camping equipment (-15.2%) and garden equipment (-10.7%) were not significant in the second quarter due to the seasonality of these activities.

Prospects

Deliveries of motorhome chassis are likely to continue to improve, which means that Trigano's production and sales are expected to increase in the second half-year.

The large attendance at the major trade fairs early this year (Birmingham and Stuttgart) confirms the growing appeal of leisure vehicles to the European public. In order to satisfy this strong interest in the long term, Trigano is committed to developing new product ranges adapted to customers' budget, even in a disturbed economic context.

Following the destocking of the distribution networks, the trailer division should benefit from more favourable conditions in the second half. In particular, the significant improvement in the order book suggests a rapid recovery in activity.

With a solid financial structure and a positive net cash position, Trigano will continue to invest in the distribution of leisure vehicles and may also study any external growth operation that would enable it to strengthen its presence in the major markets for the manufacture of leisure vehicles and their components, accessories for leisure vehicles and trailers.

Glossary Perimeter effect

Restatement of perimeter effect of newly consolidated entities consists of:

- for entities entering the consolidation scope in the current year, subtracting the contribution of the acquisition from the aggregates of the current year;

- for entities entering the consolidation scope in the previous year, subtracting the contribution of the acquisition from September 1st of the current year, until the last day of the month of the current year when the acquisition was made the previous year.

No significant entities left the consolidation scope during the periods mentioned in this press release.

Exchange rate effect

Restatement of the foreign exchange effect consists of calculating aggregates for the current year at the exchange rate of the previous year.

2021/2022 First Half-Year Results will be published on 17 May 2023

contact Laure Al Hassi phone. :+33 1 44 52 16 31 communication@trigano.fr

Euronext Paris A - CAC All-Tradable - SRD - CAC Mid 60 - ISIN FR0005691656 - REUTERS : TRIA.PA - BLOOMBERG : TRI:FP

APPENDIX

Breakdown of sales by product category

		From	Variation Q2 2023/ Q2 2022									From
in Euro millions (non-audited figures)	From 12/01/22 to 02/28/23	12/01/21 to 02/28/22 restated	Current change		Scope effect		exchange rate effect		at constant scope & exchange rate		12/01/21 to 02/28/22 released
Motorhomes	624.9	527.3	97.6	18.5%	27.3	5.2%	-3.2	-0.6%	73.5	13.9%		507.8
Caravans	60.8	59.5	1.3	2.2%	-0.3	-0.5%	-0.2	-0.3%	1.8	3.0%		59.1
Static caravans	35.3	23.5	11.8	50.2%	-	-	-	-	11.8	50.2%		23.5
Accessories	54.2	57.2	-3.0	-5.2%	6.9	12.1%	-0.2	-0.3%	-9.7	-17.0%		54.9
Others	10.8	5.2	5.6	107.7%	5.8	111.1%	-	-	-0.2	-3.4%		4.2
Leisure vehicles	786.0	672.6	113.4	16.9%	39.7	5.9%	-3.6	-0.5%	77.3	11.5%		649.4
Trailers	31.7	47.2	-15.5	-32.8%	-	-	-0.2	-0.4%	-15.3	-32.4%		47.2
Camping equipment	2.8	3.3	-0.5	-15.2%	-	-	-	-	-0.5	-15.2%		3.3
Garden equipment	6.7	7.5	-0.8	-10.7%	-	-	-0.1	-1.3%	-0.7	-9.3%		7.5
Leisure Equipment	41.2	58.0	-16.8	-29.0%	-	-	-0.3	-0.5%	-16.5	-28.4%		58.0
Total sales	827.2	730.6	96.6	13.2%	39.7	5.4%	-3.9	-0.5%	60.8	8.3%		707.4

		From	Variation H2 2023/ H2 2022									From
in Euro millions (non-audited figures)	From 09/01/22 to 02/28/23	09/01/21 to 02/28/22 restated	Current change		Scope effect*		exchange rate effect		at constant scope & exchange rate		09/01/21 to 02/28/22 released
Motorhomes	1,226.5	1,135.5	91.0	8.0%	72.6	6.4%	-4.8	-0.4%	23.2	2.0%		1,116.0
Caravans	118.9	108.9	10.0	9.2%	-	-	-0.2	-0.2%	10.2	9.4%		108.5
Static caravans	47.7	37.6	10.1	26.9%	-	-	-	-	10.1	26.9%		37.6
Accessories	112.6	107.8	4.8	4.5%	17.0	15.8%	-0.3	-0.3%	-11.9	-11.0%		105.5
Others	22.8	12.5	10.3	82.4%	11.8	94.4%	-	-	-1.5	-12.0%		11.5
Leisure vehicles	1,528.5	1,402.3	126.2	9.0%	101.4	7.2%	-5.3	-0.4%	30.1	2.1%		1,379.1
Trailers	65.3	97.6	-32.3	-33.1%	-	-	-0.5	-0.5%	-31.8	-32.6%		97.6
Camping equipment	5.0	5.2	-0.2	-3.8%	-	-	-	-	-0.2	-3.8%		5.2
Garden equipment	10.7	12.3	-1.6	-13.0%	-	-	-0.1	-0.8%	-1.5	-12.2%		12.3
Leisure Equipment	81.0	115.1	-34.1	-29.6%	-	-	-0.6	-0.5%	-33.5	-29.1%		115.1
Total sales	1,609.5	1,517.4	92.1	6.1%	101.4	6.7%	-5.9	-0.4%	-3.4	-0.2%		1,494.2

* Sales of CLC, Loisiréo, SLC were consolidated from 1st February 2022 2021/22 Second quarter sales been restated by € 23.2M to take into account the effects of these acquisitions