2025/2026 Sales

Paris, September 23, 2026

Driven by growth in the motorhome business, Trigano’s sales reach €3.8 billion in fiscal year 2026 (up 3.8%).

Motorhomes and caravans

Lifted by strong demand for Trigano products in most European countries, deliveries of motorhomes to distribution networks rose by around 7% in volume, while deliveries of caravans jumped by 15%. Growth in the motorhome business was nonetheless impacted by a 5% year-on-year decline in the performance of the integrated distribution networks, with the market in France held back by economic and political headwinds.

Overall, motorhome sales advanced by 4.2% to €2,877 million, while sales of caravans increased by 14.7% to €137 million.

Accessories and other services sales edged back 1.4% to €311 million. French integrated distribution network sales were down, while deliveries of accessories to networks in Europe were broadly flat, with strong growth in Germany offsetting lackluster performances in France and the Netherlands.

Other leisure activities

Sales of mobile homes rose slightly by 1.9% in volume terms at constant scope, but declined by around 6% in value due to an unfavorable product mix and selling price pressure reflecting a market environment at the trough of the cycle. Given the scope effect following the acquisition of BIO Habitat on December 1, 2024, sales rose by 2.9% to €291 million as reported.

Sales of trailers rose by 2.7% to €150 million, lifted by an especially strong performance from luggage trailers and solid growth in a host of Eastern European countries.

Financial results

Sales growth and the positive trend in production point toward a further improvement in earnings, with the recurring operating margin progressing towards 10%.

On the back of rigorous working capital management, and especially stable inventory levels (up 2%), Trigano’s net cash position (before IFRS 16) improved significantly to around €500 million. During the fiscal year, Trigano bought back shares totaling €60 million and paid a dividend of €76 million.

Motorhome market

The European market has been highly resilient. Despite economic and political headwinds, new motorhome registrations were on a par with the previous season at nearly 160,000 units, illustrating Europeans’ sustained interest in active, sociable and affordable outdoor leisure activities.

France, which saw a 6% decline, was held back by economic and political uncertainty, while Germany (down 1.7%) and the United Kingdom (down 1.3%) remained broadly stable. Meanwhile, several countries reported significant progress, including Spain (up 22.2%), Italy (up 5.6%), Belgium (up 9.6%) and Sweden (up 47.7%).

Trigano's high-quality product positioning characterized by strong value for money drove continued market share gains.

European market for new motorhome registrations

Sources: national manufacturers' associations (some data may include estimates; data for the United Kingdom and certain minor countries based on a 12-month rolling period from August 2025 to July 2026).

Outlook

The positive reception by distributors for the 2027 model lineup, together with their confidence in Trigano, has driven an increase in the order book, providing good business visibility for the first half of the year.

As the season gets under way, the continued popularity of leisure vehicles was confirmed by strong visitor numbers at the early national trade shows (259,000 visitors at Düsseldorf, 100,000 at Parma) and at the fall trade fairs. However, due to a degree of consumer caution, this has not yet translated into growth in motorhome sales to private customers.

Trigano will continue to monitor changes in demand and is planning to keep motorhome production stable in the first half of the year.

Mobile home market fundamentals remain favorable. This product offers a vacation experience that combines comfort, sociability, safety and freedom in an outdoor setting at affordable prices, and appeals to a growing number of young people and families. The number of overnight stays at campsites in France during the past season is expected to be close to the record levels set in the previous year, testifying to the continued popularity of this type of vacation.

Pending the upcoming trade shows and the opportunity to assess the latest trends, the market remains characterized by a wait-and-see approach on the part of major corporate clients. In the longer term, a new bull market is expected to begin, driven by the fundamentals of the rental market and the need to renew the housing stock.

Backed by its excellent financial position, Trigano intends to maintain its growth strategy in the European leisure vehicle markets, including through external growth transactions.

Interim dividend and share buyback program

Trigano's Management Board has decided to maintain the share buyback program and to pay a second interim dividend of €2.40 per share in respect of fiscal year 2026. Shares will trade ex-coupon from September 29, 2026 and the dividend will be payable from October 1, 2026. An initial interim dividend of €2.10 per share was paid in April 2026.

Glossary

Scope effect

Restating the scope for newly consolidated entities consists in:

• for entities entering the consolidation scope in the current year: deducting the contribution of the acquisition from the totals for the current year;
• for entities entering the consolidation scope in the previous year: deducting the contribution of the acquisition from September 1 of the current year to the last day of the month of the current year corresponding to that during which the acquisition was made the previous year.

Restating for entities that left the consolidation scope in the current year consists in deducting the contribution of the entity sold from the totals for the previous year.

Exchange rate effect

Restating for the exchange rate effect consists in calculating the totals for the current year using exchange rates from the previous year.

2025/2026 full-year results will be published after market on November 24, 2026

Investor relations

Hichem Belblidia
Tel.: +33 1 44 52 16 57
Mob.: +33 6 75 06 96 71
hbelblidia@trigano.fr

Laure Al Hassi
Tel.: +33 1 44 52 16 31
communication@trigano.fr

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APPENDIX

Breakdown of sales by product category

1 Following the acquisition of Bio Habitat, Trigano modified the presentation of its segment information (see page 106 of the 2025 Annual Report).
2 The scope effect of the period includes a €2.6 million reclassification from “Accessories and other” to “Motorhomes”.

In millions of euros
(unaudited figures)