Trigano achieved sales of EUR391.8 million in the third quarter of 2019/20
Trigano's activity in the third quarter was strongly impacted by the COVID-19
related health crisis. For many weeks, the company stopped production and most
of its distribution networks had to cease all activity at the peak of the
season. Despite the sharp drop in sales, operating profit for the third quarter
in EURM 2020 2019 2018
(non-audited figures) Financial Financial Financial
year year year
Q1 (Sept-Nov) 518.7 535.6 506.2
Q2 (Dec-Feb) 563.8 519.1 513.8
Q3 (March-May) 345.6 654.7 635.9
Total as at end of May 1 428.1 1 709.4 1 655.9
Q1 (Sept-Nov) 41.0 42.2 38.5
Q2 (Dec-Feb) 39.9 40.0 37.9
Q3 (March-May) 46.2 66.9 63.6
Total as at end of May 127.1 149.1 140.0
Q1 (Sept-Nov) 559.7 577.8 544.7
Q2 (Dec-Feb) 603.7 559.1 551.7
Q3 (March-May) 391.8 721.6 699.5
Total as at end of May 1 555.2 1 858.5 1 795.9
2019/2020 of which of which Change at
Current perimeter exchange constant
Change effect * rate effect perimeter and
** exchange rate
* Restatement of perimeter effect of newly consolidated entities consists of:
- for entities entering the consolidation scope in the current year,
subtracting the contribution of the acquisition from the aggregates of the
- for entities entering the consolidation scope in the previous year,
subtracting the contribution of the acquisition from September 1 of the
current year, until the last day of the month of the current year when the
acquisition was made the previous year.
No entities left the consolidation scope during the periods mentioned in this
** Restatement of the foreign exchange effect consists of calculating
aggregates for the current year at the exchange rate of the previous year.
Leisure vehicles: -47.2%
The level of sales of motorhomes (-49.7%) and caravans (-40.7%) was limited,
firstly by the shutdown of assembly lines, and secondly by the closure of
Marquis network outlets in the United Kingdom until the end of May.
Deliveries of mobile homes (-32.6%) were less affected due to the anticipated
production of many vehicles during the first half.
Sales of accessories for leisure vehicles (-35.9%) held up, notably in Germany
and the Netherlands.
Leisure equipment: -30.9%
Trailer sales (-30.5%) benefited from the location of certain manufacturing
units in countries which were less affected by the epidemic (Norway, Serbia,
Poland), while those of garden equipment (-28, 2%) and camping equipment
(-38.9%) were able to partially continue their activity thanks to the
distribution of their products via the internet.
The lifting of lockdown measures in most European countries during the month of
May was accompanied by a strong increase in the traffic in leisure vehicle
sales outlets obviously related to the partial catch-up of the containment
period, but also to the notoriously reinforced interest of consumers for
products allowing to combine leisure and health security.
The values of freedom, economy and respect for the environment which have
driven the development of the motorhome market are thus complemented by the
safety advantages of an individual itinerant leisure activity which avoids
risks linked to collective means of transport and accommodation.
Communication campaigns in favour of the use of motorhomes and caravans
organised by the manufacturers' unions in France, Germany and Italy,
highlighted this new asset and were relayed by strong media interest for
leisure vehicles in all European countries.
Trigano postponed the presentation of new models for the majority of its brands
in order to satisfy these new customers and allow its networks to distribute
the products available at their points of sale under satisfactory economic
conditions. Q4 activity should therefore be sustained, but sales for the
2019/20 financial year will remain strongly impacted by losses in manufacturing
volumes recorded in Q3.
Besides, it is difficult to predict the consequences of the economic crisis on
European demand for leisure vehicles following containment measures.
In the short term, the most relevant national fairs (Düsseldorf, Le Bourget
and Parma) are expected to be held in Q1 2020/21, but many autumn fairs and
shows have already been cancelled due to health constraints compromising their
economic interest. In this context, distributors may reduce their purchase
Trigano will follow the evolution of the markets to adapt its production
capacities and the level of its overhead costs. The company maintain its
investment programmes in productivity and improvement of working conditions,
and will remain attentive to any opportunity for external growth.
2019/2020 annual Sales should be published on 23 September 2020
Laure Al Hassi
phone. : +33 1 44 52 16 31