English

Thule Group communicated in the half-year report on July 21 that the general market situation in bike retail, at the time, was unstable with high inventory levels of bikes and bike accessories in the low- to mid-price segment and that the situation could impact the demand for Thule products. The situation has amplified, as bike retailers around the world have reduced their purchases significantly in the third quarter when comparing with the record year 2021. We believe that the chosen approach of the bike retail sector will continue in the near future and therefore impact Thule Group with reduced sales and profitability until next biking season in the spring of 2023.

At today’s Capital Markets Day in Hillerstorp, Sweden, Thule Group presents plans to enter the two new Product Categories – Car Seats and Dog Transport products. The company is also updating the sales growth targets communicated in spring 2021, which the company is tracking well ahead of.