Trigano slumps on 2025 caution, 'poor' H1 cash generation

Trigano SA

15/05/2024 10:01

** Shares in French RV maker Trigano  TRIA.PA  slump 7% to
the bottom of France's SBF 120 index  .SBF120 , as cautious
commentary on 2025 and weak cash generation overshadow
stronger-than-expected H1 earnings
    ** Trigano reports a 40.3% y/y surge in H1 oper profit to
243.2 million euros ($263.4 million), with sales rising about
18% to 1.91 billion euros
    ** Bernstein analysts says the lack of visibility on 2025
could weigh on shares, overshadowing the earnings beat
    ** Trigano says restocking of motorhome inventories that
benefited H1 is now complete, and expects investment reductions
from major outdoor accommodation operators going forward
    ** It also points to confirmed weak momentum in the caravan
market, where demand is expected to pick up in 2025 at the
earliest
    ** Berenberg and Portzamparc analysts also flag "poor" H1
cash generation
    ** Trigano's H1 cash falls to 212.8 million euros from 343.7
million euros a year earlier
    ** The stock is heading for its worst day in 10-1/2 months
if losses persist

($1 = 0.9232 euros)

 (Reporting by Piotr Lipinski)
 ((piotr.lipinski@tr.com))