Thule Group (publ) Year-end report, fourth quarter, October–December 2024

By /

Fourth Quarter

  • Net sales for the quarter amounted to SEK 1,678m (1,566), corresponding to an increase of 7.2 percent, of which 6.8 percent came from acquisitions, -0.6 percent organically and 1.0 percent from exchange rate fluctuations.
  • Operating result for the quarter amounted to SEK -35m (53). Adjusted operating income (excluding transaction costs of SEK 100m in the fourth quarter of 2024 attributable to the acquisition of Quad Lock) amounted to SEK 65m, corresponding to a margin of 3.8 percent (3.4).
  • Net income for the quarter amounted to a loss of SEK 37m (income: 24).
  • Earnings per share before dilution amounted to SEK -0.35 (0.23) for the quarter.
  • Cash flow from operating activities totaled SEK 386m (276) for the quarter.
  • The acquisition of Quad Lock, the global market leader in performance phone mount solutions, was completed on December 4.
  • The Board of Directors proposes a dividend of SEK 8,30 per share (9.50) which, based on the number of shares outstanding on February 7, 2025, corresponds to a dividend of SEK 895m (1,004).

Full year

  • Net sales for the full year amounted to SEK 9,541m (9,132), corresponding to an increase of 4.5 percent, of which 1.2 percent came from acquisitions, 3.5 percent from organic growth and -0.2 percent from exchange rate fluctuations.
  • Operating income for the full year amounted to SEK 1,522m (1,505). Adjusted operating income amounted to SEK 1,622m (1,505), corresponding to an operating margin of 17.0 percent (16.5).
  • Net income for the full year amounted to SEK 1,122m (1,099).
  • Earnings per share before dilution amounted to SEK 10.59 (10.45) for the full year.
  • Cash flow from operating activities totaled SEK 2,310m (1,850) for the full year.

Contacts

Toby Lawton 
CFO 
Phone: +46 70 242 29 47 
Email: toby.lawton@thule.com  

Catharina Paulcén 
SVP Corporate Communications and Investor Relations 
Phone:+46 73 665 45 74 
Email: Catharina.Paulcen@thule.com  

About Thule Group
Thule Group is a global sports and outdoor company. We offer high-quality products with smart features and a sustainable design that make it easy for people across the globe to live an active life. Under the motto Active Life, Simplified — and with a focus on consumer-driven innovation and long-term sustainability — we develop, manufacture and market products within the product categories Sport&Cargo Carriers (roof racks, roof boxes and carriers for transporting cycling, water and winter sports equipment, and rooftop tents mounted on a car), Juvenile & Pet Products (car seats, strollers, bike trailers, child bike seats and dog transport), RV Products (awnings, bike carriers and tents for RVs and caravans) and Packs, Bags & Luggage  (hiking backpacks, luggage and camera bags).
Thule Group has about 2,800 employees at nine production facilities and 35 sales offices worldwide. The Group’s products are sold in 138 markets and in 2024, sales amounted to SEK 9.5 billion.
www.thulegroup.com

This information is information that Thule Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-02-07 07:45 CET.

Attachments
Thule Year End Report 2024

Thule Year End Report 2024
Lovisa Steen
Communications advisor, sustainability communications
070 550 59 28
lovisa@vero.se

For me, communication is ultimately about relationships – and about shaping messages so they truly resonate with the receiver. As an advisor within both investor relations and sustainability communications, I strongly believe that long-term value creation and sustainability go hand in hand, and that how you communicate can make a real difference in building trust and engagement. I thrive in close collaborations where strategies are shaped through dialogue. In my work, I support companies across industries and stages of development, navigating both planned milestones and unforeseen events. Prior to Vero, I worked in audit at EY, primarily with listed companies. That experience allows me to combine a trained eye for numbers with the ability to translate complex facts into strategic, trust-building communication.

I joined Vero in January 2026 and hold a Bachelor’s degree in Business Administration, with focus on International Business and Marketing, from Uppsala University.

Maria Montgomery
Project manager
+46 707 57 84 85
maria@vero.se
When many things happen at once, strategic communication truly makes a difference – both internally and externally. As project manager and advisor at Vero, I work closely with clients and teams in complex, time-sensitive situations as well as in long-term engagements.

I lead assignments within crisis communications and M&A, and I am always ready to step in operationally with responsibility for communications when needed.

I joined Vero in 2021. Previously, I worked as Communications Strategist at the City of Stockholm. I hold a degree in Strategic Communication from Lund University and have completed advanced project management training at Berghs School of Communication.
"What you water, will grow."

Contact.

Are you curious about what we do, want to be a part of our team or have a project that you wish to discuss? Call or e-mail us. If you would like us to contact you instead, fill in your details, and we will contact you as soon as we have the opportunity.
Phone
+46 86 11 38 30
Inquiries
E-mail: info@vero.se
I would like you to contact me
Fill in your contact details and one of our advisors will contact you as soon as we can.