TRIGANO (EPA:TRI) - 2014 annual results

Transparency directive : regulatory news

24/11/2014 18:03

Paris, 24 November 2014

2014 Annual Results

Sales +9,1 % - Current operating profit +47,4%

EURM                               2014      2013

Sales                             892.6     818.2
Leisure vehicles sales            741.6     673.1
Leisure equipment sales           151.0     145.1
Current operating profit           34.8      23.6
Operating profit                   29.5      42.9
of which Leisure vehicles          19.8      35.1
of which Leisure equipment          9.8       7.8
Financial result                   (3.4)     (2.4)
Net income                         20.9      32.6

Annual sales reached EUR892.6 M, up 9.1% compared to 2012/2013 (+3.9 % at
constant perimeter).

The results for the year benefited from the improvement of the activity as well
as from the realisation of synergies which has emerged from the external growth
transactions carried out in 2012 and 2013, especially for the trailers activity
and SEA.

Current operating profit reached EUR34.8 M, representing 3.9% of sales (2.9 %
in 2012/2013).

Considering restructuring costs of EUR5.3 M, operating profit came to EUR29.5 M
(EUR42.9 M in 2012/2013, of which EUR19.8 M were related to the benefit of the
acquisition of SEA).

After deducting of financial result of EUR-3.4 M (EUR-2.4 M in 2012/2013),
corporate tax expense of EUR8.1 M and the contribution to the consolidated
results of equity affiliates (EUR2.9 M), the net consolidated result stood at
EUR20.9 M (EUR32.6 M in 2012/2013).

This result allowed the shareholders' equity to strengthen to EUR370.7 M
(EUR354.8 M as of 31 August 2013). Furthermore, thanks to action programs to
reduce inventory and to the good management of the trade receivables, the
working capital requirements were reduced by EUR31.5 M compared to previous
year-end. This led to a substantial improvement of the cash position which
reached EUR6.2 M (net debt of EUR37.6 M as of 31 August 2013).

Prospects

The favourable feedback of the 2015 ranges on the autumn fairs and shows
resulted in an increase in order backlog over 10 % for most of our motorhomes
brands. This trend suggests a further improvement of activity and results for
2014/2015.

Trigano will continue modelling its production capacities and its structures in
order to follow the economical evolutions and strengthen its competitiveness and
dynamism.

At the same time, the policy aiming at improving market shares will be pursued
in Europe, depending on opportunities that may arise, by external growth
operations targeted at the motorhomes, accessories for leisure vehicles and
trailers sectors.

Dividend

The board of directors approved the payment of the 2014 interim dividend in the
amount of EUR0.30 per share on 15 December 2014.

2014/2015 First Quarter Sales will be released on 6 January 2015

contact
Laure Al Hassi
phone: +33 1 44 52 16 31
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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