Thule Group (publ) – Interim report, second quarter, April-June 2024

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  • Net sales for the quarter amounted to SEK 3,099m (3,029), corresponding to an increase of 2.3 percent. Adjusted for exchange rate fluctuations, sales increased by 1.6 percent.
  • Operating income for the quarter amounted to SEK 732m (711), corresponding to a margin of 23.6 percent (23.5).
  • Net income for the quarter was SEK 559m (539).
  • Earnings per share before dilution amounted to SEK 5.28 (5.14) for the quarter.
  • Cash flow from operating activities totaled SEK 879m (718) for the quarter.
  • New financing agreement — Thule Group has entered a new financing agreement that replaces the agreement entered in June 2018. The new agreement, which came into force in the second quarter of 2024, is for a total financing amount of EUR 400m and consists of a combination of a revolving credit facility of EUR 320m and a long-term loan of EUR 80m.
  • The company Reacha (good goods tegernsee Gmbh) was acquired in early July. The company sells bike trailers for transporting water sport and other equipment and had sales of about SEK 9m in 2023.

Contacts
Toby Lawton, CFO
E-mail: toby.lawton@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 2,600 employees at nine production facilities and 35 sales offices worldwide. The Group’s products are sold in 138 markets and in 2023, sales amounted to SEK 9.1 billion.
www.thulegroup.com

This information is information that Thule Group is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-07-17 07:45 CEST.

Attachments
Thule Group (publ) Interim Report Second Quarter, 2024

Thule Group (publ) Interim Report Second Quarter, 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."

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