Trigano slumps on weak Q2 core biz results, ongoing supply issues
24/03/2022 09:16
** Shares in Trigano TRIA.PA slump 7% after the company
publishes H1 results impacted by ongoing supply challenges in
its core business urn:newsml:reuters.com:*:nFWN2VQ0WF
** The French camping vans maker says Q2 revenue rose 8.4%
to 707.4 mln euros ($777.29 mln), however, sales in the
motorhome division measured at constant scope and exchange rates
deteriorated by 0.2%
** "Trigano's Q2 sales results revealed a picture of ongoing
supply challenges in the motorhome business being offset by
revenue strength in the non-core activities, as well as positive
pricing offsetting weak volumes," Berenberg says in a note
** Trigano says volume of delivered motorhomes fell 10%
year-on-year in Q2 due to supply issues but adds this was offset
by price increases
** Berenberg, which points out motorhome business is
Trigano's core one and represents 72% of group sales in Q2,
notes the volumes have been constrained by a lack of automotive
OEM chassis supply, for which there is no sign of any
improvement in the short term
** The shares are down 25% year-to-date
** The stock sits at the very bottom of the SBF 120 index
.SBF120
($1 = 0.9101 euros)
(Reporting by Clement Martinot)
((Clement.martinot@tr.com))