TRIGANO (EPA:TRI) - 2016 annual results - Erratum operating profit leisure equipment
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23/11/2016 17:33
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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 13.3 11.7 +13.0
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.
2016/2017 First Quarter Sales will be released on 3 January 2017
contact
Laure Al Hassi
phone: +33 1 44 52 16 31
communication@trigano.fr
www.trigano.fr
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