TRIGANO (EPA:TRI) - 2016 annual results

Transparency directive : regulatory news

21/11/2016 17:38

Paris, 21 November 2016

2016 Annual Results

Current operating profit: EUR100.1 M (+56.1%)

Trigano reached a record current operating profit of EUR100.1 M in 2015/2016,
representing 7.6% of sales (6.0% in  2014/2015).

EURM                       2016        2015       Change (%)
Sales                     1,317.1     1,075.6       +22.5
Leisure vehicles sales    1,151.3       914.2       +25.9
Leisure equipment sales     165.8       161.4        +2.7
Current operating profit    100.1        64.1       +56.1
Operating profit             99.3        62.9       +57.9
of which Leisure vehicles    86.0        51.2       +68.0
of which Leisure equipment   10.3        11.7       -12.0
Financial result            (3.4)       (3.6)        -7.3
Net income                   89.7        59.5       +50.7

Strong earnings growth reflected the surge in activity, but also cost control
and productivity increase despite the integration and the training of
additional production operators.

The achievement of a fiscal integration between Trigano's business units in
Italy, permitted by the new Italian tax law, led to a deferred tax asset of
EUR17.2 M.

Given the positive contribution of equity affiliates (5.6 MEUR), net profit
reached EUR89.7 M, or
EUR4.68 per share.

Cash flow stood at EUR113.7 M, an increase of 48.8% compared to 2014/2015. It
was used to finance capital expenditures for an amount of EUR28.6 M, to pay the
dividend of EUR13,4 M and to strengthen the financial structure despite the
increase in working capital due to the surge in activity.

Trigano entered the 2016/17 fiscal year with a consolidated net equity of
EUR489.7 M and a net cash position of EUR58.2 M.

Prospects
The European motorhome market, in a growth phase, leads the company to expect a
marked increase in its activity and results in  2016/2017.

The investment programme initiated in 2014/2015 should provide sufficient
production capacities to answer the increasing demand. Trigano will again
allocate significant amounts to capital expenditures in order to further
increase production capacities, to enhance productivity and working conditions
in all of its plants.

Regarding marketing, the brands portfolio of leisure vehicles will gradually be
exploited more rationally at the European level by completing the currently
insufficient distribution network of certain brands. This action should
generate gains in market shares.

With its robust financial structure and therefore solid financial capacities,
Trigano will seek to implement new external growth operations targeted at the
motorhomes and trailers sectors.

Dividend
The Executive Board will propose to the General Meeting scheduled for 9 January
2017 the payment of a dividend in the amount of EUR 1.00 per share.

TRI
LISTED
NYSE
EURONEXTSM

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

2016/2017 First Quarter Sales will be released on 3 January 2017


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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