Trigano: an agile, forward-looking company
In 2024, Trigano confirmed its positioning as a lean and agile company, capable of adapting and accelerating in a constantly changing environment. With record sales of €3.9 billion for the financial year ended 31 August, Trigano has consolidated its status as Europe’s leading leisure vehicle manufacturer.
As in previous years, 2024 was marked by constant challenges in a changing global context. After two years marred by supply chain disruptions, production returned to a normal pace this year, testifying to the resilience and efficiency of Trigano’s teams.
A winning strategy for robust margins
The quality of the margin generated this year demonstrates the relevance of Trigano’s strategy. The cost-cutting measures implemented over the last two years are paying off, and the new product ranges offered at very competitive prices have met with success.
While the inflationary pressures of previous years have eased, business growth has clearly contributed to better coverage of fixed costs. This is reflected in EBIT of €500.7 million, or 12.8% of sales, confirming Trigano’s commitment to a quality financial performance.
Managing challenges and controlling inventories
However, the 2024 financial year was not without its challenges. Changes in approval standards for chassis supplied by original equipment manufacturers (OEMs) severely disrupted the recovery in manufacturing activity, leading to a one-off significant increase in factory inventories at the end of the financial year.
In a spirit of cooperation with its distributors, who are also faced with surplus inventories in several European countries, Trigano has chosen to keep some of these inventories on its balance sheet in order to ensure smooth operations. These measures, which were well controlled and monitored, contributed to a temporary increase in working capital requirements (WCR). The situation is being resolved, and we expect a return to normal by the spring of 2025.
Innovation and environmental responsibility
Trigano remains true to its mission of designing leisure vehicles that combine fun and responsibility. The company continues its efforts to minimise the environmental footprint of its products and promote responsible consumption. Technological innovation is at the heart of this approach, as demonstrated by the commercial launch last September of the first electrified motorhome, ElectriX, by the Chausson and Challenger brands. This project illustrates Trigano’s commitment to the energy transition and its pioneering role in the sector. Of course, Trigano’s manufacturing processes have not been forgotten, and actions to reduce the company’s carbon footprint will be stepped up in the coming years.
Strategic development in mobile homes and continued growth at Libertium
Trigano continues to invest in its strategic activities, especially in the mobile home segment. The project initiated in 2022 to increase production capacity in western France entered the operational phase this year. At the same time, the acquisition of BIO Habitat allowed Trigano to change dimension, becoming the market leader. Synergy plans are already underway to maximise the results of these initiatives. Trigano is also pursuing its growth momentum in the motorhome segment by expanding its proprietary Libertium distribution network, which now has almost 80 sales outlets in France, Spain and the United Kingdom.
A strong outlook for 2025 and beyond
The outlook for 2025 is encouraging, on the back of buoyant demand at the start of the financial year, with good order intake and a motorhome registration market set to continue the momentum of 2024, with growth of over 10%. Efforts to correct inventories will have an impact on Trigano’s production activity, particularly in the first half of the financial year. Beyond that, the fundamentals of the motorhome market, particularly demographics, are unchanged. According to European Commission statistics, Europe’s over-50s population is set to grow by around 15 million by 2035; this trend is associated with an increase in healthy life expectancy and should fuel further market growth over the next few years.
There are still many challenges ahead, but the medium- and long-term outlook is positive for Trigano, its staff and its shareholders. I will strive to maintain the company’s growth by pursuing the policy of gaining market share while guaranteeing quality margins.
