TRIGANO (EPA:TRI) - First half-year results 2014/2015

Transparency directive : regulatory news

27/04/2015 17:57

Paris, 27 April 2015

First Half-Year Results

Increase in the current operating profit by 96.5% in the first half-year 2015

in EURM                                                   H1 2015     H1 2014
Sales                                                       479.0      425.4
Leisure Vehicles                                            418.7      369.6
Leisure Equipment                                            60.3       55.8
Current operating result (1)                                 16.9        8.6
of which leisure vehicles                                    15.6        8.8
of which leisure equipment                                    1.3       (0.2)
Other operating income and charges                           (1.0)      (5.7)
Operating result                                             15.9        2.9
Net result (1)                                               10.7        1.3

(1) Application of IFRIC 21 results in bearing the annual charges of property
tax and C3S tax in the first half- year. The impact is a reduction of EUR 1.0 M
in the operating result and EUR 0.6 M in the net income (respectively EUR 0.9 M
et EUR 0.6 M for the comparative accounts which have been restated in line with
IAS8).

Current operating result reached EUR 16.9 M (3.5% of sales) compared to EUR 8.6
M in 2014 (2.0% of sales). The improved performance in the period is due, to a
large extent, to the high level of activity (sales +12.6%), the improvement in
productivity and the near stability of selling and administrative expenses
linked in particular to restructuring programmes implemented last year.

Considering a net financial charge of EUR 2.7 M, a corporate tax expense of EUR
3.8 M and the positive contribution from equity affiliates (EUR 1.2 M), the net
consolidated result stands at
EUR 10.7 M (EUR 1.3 M in 2014).

Furthermore, thanks to an effective management of the seasonal change in working
capital requirements, net debt, traditionally at its high level at the end of
the first half-year, reached EUR 56.6 M (EUR 96.6 M in 2014), representing only
15.1% of equity (27.5% in 2014).

Finally, although up (EUR 6.2 M compared to EUR 5.4 M last year), capital
expenditure remained at a level comparable to that of depreciation charges
(EUR 6.6 M).

Prospects

The high level of motorhomes order backlog points to a sustained activity in the
second half- year. Trigano will nevertheless continue its efforts to adapt its
means to make the company more competitive and reactive in order to reinforce
its market shares in Europe and to best gain from the end of the crisis
prospect.

At the same time, specific projects will be developed for the integration of
Luano Camp (Rimor) to implement numerous synergies that have been identified.

                       2015 third quarter sales will be published on 2nd July

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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