Trigano (TRI) Q4 2024 TU earnings summary

Executive summary

• Achieved record sales of €3.93B for FY 2023/24, up 12.8% year-over-year, driven by strong motorhome demand.

• Motorhome sales rose 21.7%, benefiting from improved supply chain and market conditions.

• Leisure equipment sales declined 3.6% due to weak European economic climate.

Financial highlights

• Total sales for FY 2023/24 reached €3,926.3M, up from €3,480.2M in 2022/23.

• Q4 2023/24 sales were €874.3M, a 4.6% increase compared to Q4 2022/23.

• Current operating margin ratio expected to be at least equal to 2022/23's 12.2%.

Outlook and guidance

• European motorhome market registrations rose over 10% in the twelve months to August 2024.

• Strategy focused on attractive price/content ratios to gain market share, especially among first-time buyers.

• Gradual interest rate reductions expected to support further market growth.

• Production adjustments planned for vans, panel vans, and caravans in H1 2025 to manage inventories.

• Launching ElectriX dual-mode combustion/electric vehicle under Challenger and Chausson brands.