TRIGANO (EPA:TRI) - First Half-Year Results

Transparency directive : regulatory news

28/04/2014 18:07

Paris, 28 April 2014

First Half-Year Results

Current operating profit up to EUR9.5 M in the first half-year

in EURM                                  H1 2014        H1 2013
Sales                                      425.4          374.6
Leisure Vehicles                           369.6          320.6
Leisure Equipment                           55.8           54.0
Current operating result                     9.5            3.3
of which leisure vehicles                    9.7            5.3
of which leisure equipment                  (0.2)          (2.0)
Other operating income and charges          (5.5)          19.8
Net result                                   1.9           21.5

First half-year results benefited from the 13.6% increase in sales (of which
2.3% organic growth) as well as from the realization of the synergies resulting
from the external growth operations made in 2012 and 2013. Current operating
result stands at 2.2% of sales compared to 0.9% in the first half of the
previous financial year.

The announcement of a headcount reduction program in the Tournon-sur-Rhône site
(France) and that of the transfer of production of Arca motor-caravans to the
Poggibonsi site (Italy) implying the closure of the Pomezia site (Italy) led to
the constitution of provisions for restructuring for a total amount of EUR5.5M.

Operating result reached EUR3.8 M compared to EUR22.6 M in 2013 (of which
EUR19.8 M related to the taking into account of the acquisition profit of SEA).

Considering a net financial charge of EUR1.6 M, a corporate tax expense of
EUR1.2 M and the positive contribution of equity affiliates (EUR0.9 M), net
consolidated income stands at EUR1.9 M (EUR21.5 M in 2013).

Further improvement of the financial structure
Half-year accounts recorded further improvement of Trigano's financial
structure : net debt, traditionally at its highest as at end of February,
reached EUR96.6 M at the end of the first half)year (EUR101.6 M in 2013)
representing only 27.5% of equity (29.5% in 2013).

Prospects

With its low indebtedness and its high level of equity (EUR350.9 M as at
28 February 2014), and convinced by the development potential of its markets,
Trigano will pursue its policy aimed at increasing its market shares and will
remain attentive to external growth opportunities in leisure vehicles and
trailers.
In the shorter term, in a context that is still not very favorable to the
consumption of leisure and open-air equipments, Trigano will continue to focus
its efforts on the implementation of programs aimed at making the company more
competitive.

2013/2014 Third Quarter Sales will be released on 3 July 2014

contact
Rym Bel Kefi-Rougnon
phone: +33 1 44 52 16 52
communication@trigano.fr                                  www.trigano.fr

Euronext Paris B - CAC All-Tradable - SRD - CAC Mid & Small - ISIN FR0005691656
- REUTERS : TRIA.PA - BLOOMBERG : TRI.FR

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