Trigano (TRI) Q1 2026 TU earnings summary

Executive summary

• Q1 2026 sales increased 8.3% year-over-year to €833.4M, driven by strong motorhome and caravan demand and the Bio Habitat acquisition.

• Motorhome deliveries to networks rose by around 10%, supported by a robust order book.

• Caravan sales grew 13.4% on a like-for-like basis, aided by favorable comparisons and restocking needs.

Financial highlights

• Motorhomes and caravans segment sales reached €759.6M, up 6.0% year-over-year; other leisure activities surged 38.2% to €73.8M.

• Motorhomes sales grew 6.8% to €664.9M; caravans up 12.0% to €31.8M; accessories and others declined 3.8%.

• Mobile home sales increased 125.0%, reflecting the Bio Habitat acquisition; trailer sales declined.

Outlook and guidance

• Strong customer interest continues, confirmed by trade show attendance and sales at the season's start.

• Production ramp-up planned for Q2 and Q3 to meet distributor demand, supported by a solid order book.

• Management expects a marked improvement in business and results for fiscal 2026, driven by commercial momentum and better production utilization.

• Strong cash position enables expansion of the integrated distribution network and pursuit of strategic external growth.