TRIGANO (EPA:TRI) - 2015 annual results

Transparency directive : regulatory news

17/11/2015 17:35

Paris, 17 November 2015

Financial year 2015: strong development of activity and results

The success of Trigano products, especially on an improving European motorhome
market, allowed the company to record sales growth over 20%.
Current operating profit increased by 84.5% to reach EUR64.1 M, representing
6.0% of sales (3.9% in 2013/2014).

EURM                         2015    2014    Change (%)
Sales                      1,075.6   892.6    +20.5
Leisure vehicles sales       914.2   741.6    +23.3
Leisure equipment sales      161.4   151.0     +6.9
Current operating profit      64.1    34.8    +84.5
Operating profit              62.9    29.5   +113.4
of which Leisure vehicles     51.2    19.7   +159.5
of which Leisure equipment    11.7     9.8    +20.3
Financial result             (3.6)    (3.4)    +5.7
Net income                   59.5     20.9   +185.1

The results for the year benefited from the good level of activity and from
effects of restructuring programmes implemented during the previous fiscal year.
Luano Camp (Rimor motorhomes), acquired in March 2015, contributed sales of
EUR19.9 M and generated a small profit.

The confirmation of the recovery of SEA, a company acquired in 2013, led, in
accordance with accounting standards, to a deferred tax asset of EUR11.2 M
corresponding to a part of the tax loss carry-forwards of this company. The tax
charge for the year has been reduced to EUR4.0 M.

Given the positive contribution of equity affiliates (EUR4.2 M), net profit
reached EUR59.5 M for the year.

Cash flow stood at EUR76.4 M, an increase of 86.5% compared to 2013/2014. It was
used to finance capital expenditures for an amount of EUR15.7 M, to pay the
dividend of EUR5,8 M and to strengthen the financial structure whilst working
capital requirement remained stable. Trigano moves into 2016 with a consolidated
net equity of EUR421.4 M and a net cash position of
EUR39.7 M.

Prospects
A further activity growth is expected for 2015/2016. The strong increase of
orders received by distribution networks is driven by the observed recovery of
the European motorhome market and by a positive reception of our products by
consumers.

Trigano has invested to meet this demand especially by increasing the production
capacities of McLouis, Elnagh and Forster brands with the new plant of Montone
and by implementing a new assembly line for Challenger and Chausson products in
Tournon-sur-Rhône. This policy will be pursued with the expansion of the sites
of Grimsby, Peñiscola, Brantôme and Panissières in the next two years.

Other improvement and investment programmes which may include external growth
will be initiated in order to gain market shares in Europe, to make the company
more competitive and flexible, and to further enhance profitability.

Dividend
The board of directors will propose to the General Meeting scheduled for 5
January 2016 the payment of a dividend in the amount of EUR0.70 per share.

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

2015/2016 First Quarter Sales will be released on 5 January 2016

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

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TRIGANO (EPA:TRI) - 2015 annual results

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