TRIGANO (EPA:TRI) - 2016/2017 First Half-Year Results

Transparency directive : regulatory news

18/04/2017 17:40

Paris, 18 April 2017

First Half-Year Results

Increase in the current operating profit by 39.6% in the first half-year 2017

in EURM                            H1 2017             H1 2016
Sales                               749.1               621.1
Leisure Vehicles                    681.1               557.5
Leisure Equipment                    68.0                63.6
Current operating result             52.5                37.6
of which leisure vehicles            51.3                35.8
of which leisure equipment            1.2                 1.8
Other operating income and charges   17.3               (0.1)
Operating result                     69.8
37.5
Net result                           56.6                31.9

Current operating result reached EUR52.5 M (+39.6%) in the first half-year,
representing 7.0% of sales (6.1% in 2015/2016). Half-year results benefited
from the strong growth in activity, the improved productivity on most of sites
and from the restrained rise of operating expenses. They were constrained due
to recurrent problems in chassis delivery and to the depreciation of the
Sterling Pound against the Euro, which could not be passed on in its entirety
to sales prices in the United Kingdom.

The full consolidation of Auto-Sleepers Investments led to reassess by EUR
17,8M (recognised under other operating income) the interest, previously held
by Trigano, on the basis of fair value as of 3rd January 2017.

Financial result was EUR-1.7 M (EUR+1.5 M in 2015/16). Cost of financial debt
(EUR1.0 M) is stable, but currency results were significantly down (EUR-0.4 M
against EUR+2.4 M in the first half-year 2015/16) due to the unfavourable trend
in the Sterling Pound.

Considering corporate tax expense of EUR13.6 M and the positive contribution of
equity affiliates (2,0 MEUR), the net consolidated result stood at EUR56.6 M
(+77.5% in comparison with 2015/16) and represents EUR2.93 per share.

Furthermore, thanks to an effective management of the seasonal change in
working capital requirements and despite the high level of capital expenditure
(EUR20.9 M in comparison to
EUR 11.5 M in 2016), net debt, traditionally at its high level at the end of
the first half-year, reached EUR24.0 M (EUR31.5 M in 2016), representing 4.5%
of equity (7.2% in 2016).

Finally, Trigano continues to implement its capital expenditure programme
aiming at satisfying the growing demand, strengthening the competitiveness of
the company and improving its profitability and working conditions. This
programme focuses on 11 industrial sites, it should be fully deployed at the
end of the financial year 2018.

Prospects

The high level of motorhomes order backlog points to a sustained activity in
the second half-year ; this increase will be achieved by a progressive and
significant rise in production capacities and the return to normal chassis
deliveries.

Trigano
LISTED
NYSE
EURONEXT

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

2017 Third-Quarter Sales will be disclosed on 4 July 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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