Trigano — Earnings Release 2024

Jun 24, 2024

2023/2024 Third Quarter Sales: €1,146.2M (+ 10.8%)

Driven by continued strong growth in motorhome sales in the third quarter (+20.3%), Trigano's sales were up 10.8% on a high comparable basis and reached 3.1 billion euros in the first nine months of the financial year (+15.4%).

In M€ (non audited figures)		2024 2023 Financial Financial year year		Variation 2024/2023
				Current change	of which scope effect		Change at constant scope and exchange rates
Leisure vehicles	Q1 (Sept-Nov)	893.9	742.5	+20.4%	+0.4%	-	+20.0%
	Q2 (Dec-Feb)	933.6	786.0	+18.8%	+1.1%	+0.4%	+16.8%
	Q3 (Mar-May)	1,083.6	970.0	+11.7%	+3.2%	+0.4%	+8.2%
	Total LV	2,911.1	2,498.5	+16.5%	+1.9%	+0.3%	+14.4%
Leisure equipment	Q1 (Sept-Nov)	37.7	39.8	-5.3%	-	+0.3%	-5.5%
	Q2 (Dec-Feb)	40.6	41.2	-1.5%	-	+0.7%	-2.2%
	Q3 (Mar-May)	62.6	64.6	-3.1%	-	+0.9%	-4.0%
	Total LE	140.9	145.6	-3.2%	-	+0.7%	-3.9%
Q1 Total		931.6	782.3	+19.1%	+0.4%	-	+18.7%
Q2 Total		974.2	827.2	+17.8%	+1.5%	+0.4%	+15.9%
Q3 Total		1,146.2	1,034.6	+10.8%	+3.0%		+7.4%
Total Sales		3,052.0	2,644.1	+15.4%	+1.8%	+0.3%	+13.4%

Leisure vehicles

In a still-growing market, deliveries of motorhomes to distribution networks remained sustained during the third quarter. Volume growth reached around 10%, with favourable price/mix effects boosting sales growth to 16% at constant scope and exchange rates.

Sales of other leisure vehicles were affected by a decrease in demand, particularly for caravans (-30.9%), mobile homes (-25.5%) and, to a lesser extent, accessories for leisure vehicles (-3.7%).

Leisure equipment

Sales of trailers remained resilient, rising by 8.0% in volume terms. Sales were stable (-0.6%) due to an unfavourable product mix.

The overall economic situation in Europe weighed on the performance of other leisure equipment (- 9.9%). In addition, sales of garden and camping equipment suffered from unfavourable weather conditions for the purchase of outdoor equipment in France.

Prospects

End of 2024 season motorhomes deliveries should enable sales to increase significantly over the year, while preserving a quality margin.

The motorhome market remains buoyant in Europe, with growth close to 10% since the start of the season. The normalisation of chassis deliveries by car manufacturers has made it possible to satisfy demand and to replenish - in some cases beyond what is necessary - manufacturers' and distribution networks' stocks. The positive trend in the market should help to regulate this situation over the coming months.

Presentations of the new motorhome and caravan ranges to the European dealer networks have begun in recent weeks and will continue until mid-July. Customers have been particularly receptive to the product developments designed to make them more competing in a market that has become highly competitive again. The level of taken orders at this stage is in line with Trigano's expectations.

In a persistently difficult economic and political condition, Trigano will continue to closely monitor its markets' developments in order to adapt its structure and organisation, and gain market share.

Trigano will continue to study all external growth opportunities of major strategic interest. Finally, the acquisition of BIO Habitat is still under review by the French Competition Authority.

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 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.

2023/2024 Sales will be disclosed on 26 th September 2024

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

APPENDIX

Breakdown of sales by product category

	From 03/01/24 to 05/31/24		Variation 2024/ 2023
Q3 in Euro millions (non-audited figures)		From 03/01/23 to 05/31/23 (1)	current change		scope effect		exchange rate effect		At constant scope & exchange rate
Motorhomes	894.4	743.7	150.7	+20.3%	26.9	+3.6%	3.4	+0.5%	120.4	+16.2%
Caravans	53.0	76.7	-23.7	-30.9%	0.3	+0.4%	0.1	+0.1%	-24.1	-31.4%
Static caravans	35.9	48.2	-12.3	-25.5%	-	-	-	-	-12.3	-25.5%
Accessories	83.0	86.2	-3.2	-3.7%	1.6	+1.9%	0.2	+0.2%	-5.0	-5.8%
Others	17.3	15.2	2.1	+13.8%	2.0	+13.2%	0.1	+0.7%	-	-
Leisure Véhicles	1,083.6	970.0	113.6	+11.7%	30.8	+3.2%	3.8	+0.4%	79.0	+8.1%
Trailers	47.2	47.5	-0.3	-0.6%	-	-	0.5	+1.1%	-0.8	-1.7%
Others	15.4	17.1	-1.7	-9.9%	-	-	0.1	+0.6%	-1.8	-10.5%
Leisure Equipment	62.6	64.6	-2.0	-3.1%	-	-	0.6	+0.9%	-2.6	-4.0%
Total Sales	1,146.2	1,034.6	111.6	+10.8%	30.8	+3.0%	4.4	+0.4%	76.4	+7.4%

(1) a reclassification with no impact on the leisure vehicle operating segment was carried out : € 5.1M were reclassified from motorhomes to accessories (€ 4.5M) and other LVs (€0.6M)

			Variation 2024/ 2023
YTD in Euro millions (non-audited figures)	From 09/01/23 to 05/31/24	From 09/01/22 to 05/31/23	current change		scope effect		exchange rate effect		At constant scope & exchange rate
Motorhomes	2,440.3	1 965.1	475.2	+24.2%	39.6	+2.0%	6.0	+0.3%	429.6	+21.9%
Caravans	146.3	195.6	-49.3	-25.2%	-	-	0.3	+0.2%	-49.6	-25.4%
Static caravans	89,6	95.9	-6.3	-6.6%	-	-	-	-	-6.3	-6.6%
Accessories	190.7	203.3	-12.6	-6.2%	3.0	+1.5%	0.3	+0.1%	-15.9	-7.8%
Others	44.2	38.6	5.6	+14.5%	3.7	+9.6%	0.1	+0.3%	1.8	+4.7%
Leisure Véhicles	2,911.1	2,498.5	412.6	+16.5%	46.3	+1.9%	6.7	+0.3%	359.6	+14.4%
Trailers	113.5	112.8	0.7	+0.6%	-	-	0.9	+0.8%	-0.2	-0.2%
Others	27.4	32.8	-5.4	-16.5%	-	-	0.1	+0.3%	-5.5	-16.8%
Leisure Equipment	140,9	145.6	-4.7	-3.2%	-	-	1.0	+0.7%	-5.7	-3.9%
Total Sales	3,052.0	2,644.1	407.9	+15.4%	46.3	+1.8%	7.7	+0.3%	353.9	+13.4%