Caravans hit the fast lane
01/07/2021 10:25
(The author is a Reuters Breakingviews columnist. The opinions
expressed are their own.)
LONDON, July 1 (Reuters Breakingviews) - Caravans are
enjoying a rare moment in the sun. Shares in Trigano TRIA.PA
jumped 8% to a record high on Thursday, valuing the French maker
of motorhomes at more than 3.5 billion euros. Powered by the
opening of domestic tourism but continued curbs on international
travel, sales of Trigano’s leisure vehicles – including its
leading Caravelair line – jumped 139% http://www.trigano-finance.com/doc/cp%20ca/TRIGANO_CA_T3_2021_en.pdf
year-on-year from March to May. More importantly, turnover was
up more than a quarter against the same period in 2019, before
the pandemic struck.
Interestingly, the Covid-19 slipstream is not carrying
everyone in its wake. Shares in smaller German rival Knaus
Tabbert KTAG.DE have gained just 14% since their underwhelming
initial public offering last September. Analysts expect its
sales to grow by 19% this year, according to Refinitiv, well
below the 25% increase they had pencilled in for Trigano before
Thursday’s results. With 224 million euros of net cash on its
balance sheet, the French group can accelerate away from its
rivals. (By Ed Cropley)
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(Editing by Peter Thal Larsen and Oliver Taslic)
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