May 12, 2017


We feel BEARISH on the markets.

“It’s waiting that helps you as an investor, and a lot of people just can’t stand to wait.” – Charlie Munger
TRI.PA (ISIN: FR0005691656)

Trigano SA is a France-based company that specializes in the design, manufacturing and marketing of recreational vehicles and equipment. The Company's Leisure Vehicles segment includes such products as motor caravans, camping cars and mobile homes, accessories and spare parts.

Market: Euronext Paris

Gain over the last quarter: +13.7 % 

Fair value: 108 €
Discount: 9%
Average yearly return: 58%,
Yield: 1.1%

April 18, 2017 Trigano : H1 net income EUR 56.6 million versus EUR 31.9 million year ago H1 recurrent operating income EUR 52.5 million versus EUR 37.6 million year ago Expects a sustained activity in the second semester