(AOF) – Trigano announces that it has finalized at the beginning of September 2023 the acquisitions of the Abalain and Alonso groups, announced in April, and that of the Thouard company (3.5 million euros in turnover). These companies, all beneficiaries, together employ around a hundred people. The leisure vehicle specialist emphasizes that with ten new points of sale in Brittany (Finistère and Côtes d’Armor), in the South-West (Landes, Pyrénées Atlantiques and Lot-et-Garonne) as well as in Yonne, these operations make it possible to complete the territorial coverage of the Libertium network.
The Libertium network now brings together the 60 Trigano points in France under the same umbrella. These acquisitions will be integrated from September 1, 2023 and are expected to contribute approximately €50 million to Trigano’s consolidated revenue.
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Key points
– European number 1 in leisure vehicles, with 1/3 of the market, created in 1935;
– Turnover of €3.2 billion, achieved in caravans, motorhomes and mobile homes for 92.3% then in leisure equipment – camping and garden equipment, trailers;
– Mainly European presence: 31% of sales in France, 25% in Germany, 10% in the United Kingdom, 5% in Scandinavia, Belgium, Italy and Spain;
– Business model of strong autonomy of subsidiaries, “multi-local” growth based on the acquisition of small companies retaining their brands, associated with total control of the distribution network;
– Capital held at 57.9% (71.6% of voting rights) by the Feuillet family, Stéphane Gigou chairing the supervisory board of 7 members and Michel Freiche providing general management;
– Healthy balance sheet with €1.3 billion in equity and net cash of €126 million.
Challenges
– Strategy based on 2 pillars: increasing production capacities and their productivity, then the networking of distribution networks;
– Environmental strategy:
– vehicle design: 10% reduction in fuel consumption for new motorhomes, reduction in particle and nitrogen oxide emissions and reduction in vehicle weight,
– development of fuel cells and solar panels;
– Ramp-up of van and converted van factories in Italy and Spain, the new Slovenian site and the Benimar brand in Germany;
– After the purchase of the French distributors CLC, SLC and Loisiréo (€30 million in additional turnover), awaiting acquisitions or integrations of component suppliers;
– Diversification into vans under the Panama brand;
– A promising economic model, the motorhome offering travel at lower cost for customers, and market shares above 40% in most European countries.
Challenges
– Fallout from the industrial and logistical reorganization imposed by the lack of chassis (decrease in volumes sold by 4,000 units over the 2021-22 financial year);
– Impact of inflation (+25% costs for trailers, +10% for vehicles) weighing on the operating margin;
– Integration of French distributors CLC, SLC and Loisiréo and pending acquisitions or integrations of component suppliers;
– After a decline in turnover in the 1st quarter, outlook for the 2022-23 financial year ending August 31: end of supply difficulties from the 2nd quarter and resumption of sales growth;
– 2021-22 gross dividend of $3.5, paid in two installments.
Find out more about the “hospitality and leisure” sector
Global tourism still on the rise
Over the first nine months of 2022, 700 million tourists traveled internationally, more than double (+133%) the figure recorded for the same period in 2021. This figure reached 63% of 2019 levels , which should allow the sector to reach 65% of its pre-pandemic levels in 2022. This result is due to a high level of demand and the gradual lifting of restrictions in a large number of countries. Europe is significantly supporting this rebound with the arrival of 477 million people between January and September 2022 (68% of the global total), reaching 81% of the pre-covid level. Tourism there is driven by strong intra-regional demand and travel from the United States. Some destinations saw notable increases in revenue, including Serbia, Romania, Turkey, Latvia, Portugal, Pakistan, Mexico, Morocco and France.