(AOF) – Thanks to the good dynamics of the motorhome activity (+26.8%), Trigano sales increased by almost 20% in the 1st quarter of 2023/2024. The continued improvement in the operation of the logistics chain with, in particular, the end of the shortage of rolling bases has made it possible to record strong growth in motorhome sales. Deliveries to distributors increased by more than 20% in volume to which are added favorable price/mix effects bringing the increase in turnover beyond 26%.
Sales of mobile homes (+18%), which benefit from a favorable base effect, are also trending well.
On the other hand, sales of caravans (-13%) and accessories for leisure vehicles (-10%) were affected by a certain wait-and-see approach in distribution in a disrupted economic context.
In the shorter term, despite the restocking of distributors’ stocks in France and Germany, the level of Trigano’s order books remains high and saturates its production capacities for the 2023/24 season.
Trigano therefore plans to see growth in its sales over the coming months.
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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 57.8% (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, at the end of February, €1.45 billion in equity and net cash of €138 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;
– Increase in power in Italy, Slovenia and Spain, sites for vans and vans sold under the European brand Panama;
– Tightening of the distribution network in France with 6 acquisitions during the financial year;
– A promising economic model, the motorhome offering travel at lower cost for customers, and market shares above 40% in most European countries.
Challenges
– Standardization, after industrial and logistical reorganization, of deliveries;
– Recovery of the leisure equipment activity, affected by the French and European economic situation, resulting in an 18% decline in sales over the first 9 months of the financial year;
– Evolution of negotiations with Beneteau for the resumption of the mobile home activity by the end of the year (€252 million turnover in 2022);
– After a gain of 4.7 in turnover over the first 9 months of the 2022-23 financial year ended August 31, objective: end of supply difficulties from the 2nd quarter and resumption of sales growth.
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.