2012 presented a mixed picture as it took place in a European environment of great economic uncertainty and high volatility. In such difficult circumstances, Trigano’s sales resisted well at €740M while net profit reached €14.5M. Our full potential has been restricted in the countries where austerity measures were implemented like Spain and Italy, as some clients postponed the acquisition of leisure vehicles for psychological or fiscal reasons. We have however managed to maintain our market shares and even to strengthen them in some segments and countries. 

Developing innovative products and gaining new positions through external growth were two major pillars of Trigano’s strategy in 2012. This year again, innovation was at the center of all our preoccupations and we launched several innovative concepts that gave Trigano an advantage over competitors. Among these innovations: a fridge-drawer in the caravans, an entry-level A-Class vehicle, a third generation static caravan, a brand new trailer in aluminum and a new thermal and sound insulation system in the vans.
We also accelerated external growth and took advantage of the tougher environment to strengthen our positions with the completion of four transactions: Notin in motor caravans in France, Lider and Gaupen Henger in trailers in France and in Norway and OCS in accessories for leisure vehicles in the Netherlands. These acquisitions represent for Trigano a contribution to turnover of €70 M on a full-year basis and enable the enlargement and enrichment of our product offer.
In addition, if the unstable and depressed economic context persists, Trigano will demonstrate, as it did in 2008, its capability to manage the crisis. This will entail adapting production capacities, adjusting the structures and reducing overheads.  The effort will also focus on a drastic control of stocks in order to reduce working capital requirements and keep a sound financial structure.
Finally, we will continue to develop our strengths, including an organization close to our markets and our customers, a solid distribution network and a unique financing offer in the sector.
The coming years will probably be troubled, but Trigano will rely on its ability to implement prudent and rigorous management and on the solidity of its markets fundamentals to keep moving forward.

François FEUILLET

Chairman and CEO