Thule Group AB

THULE

Equity

ISIN SE0006422390 / Valor 26104958

NASDAQ Nordic Exchange Stockholm, Equities (2024-09-17)

SEK 282.80-3.15%

Thule Group AB
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About company

Thule Group AB is a global leader in products designed for an active lifestyle, encompassing a wide range of categories such as roof racks, bike carriers, rooftop tents, and travel bags. The company, headquartered in Sweden, has established a reputation for innovation and quality in its offerings, aiming to facilitate outdoor activities and transportation of gear and equipment. Thule Group's commitment to sustainability is evident in its manufacturing processes, which prioritize minimal environmental impact. While the company emphasizes its dedication to contributing to a more sustainable world, its core business revolves around developing and marketing products that support the active and outdoor pursuits of consumers worldwide. Through its diverse product portfolio, Thule Group caters to the needs of adventurers, families, and individuals seeking reliable solutions for transporting their equipment and belongings safely and efficiently.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Net Sales

Thule Group AB reported net sales of SEK 3,099 million for the second quarter of 2024, reflecting a 2.3 percent increase compared to the same period in 2023. When adjusted for exchange rate fluctuations, the sales increase was 1.6 percent. This growth was driven by strong performance in the European and Rest of World regions.

Operating Income

For the second quarter of 2024, Thule Group AB's operating income amounted to SEK 732 million, up from SEK 711 million in the same quarter of the previous year. This represents an operating margin of 23.6 percent, slightly higher than the 23.5 percent margin recorded in Q2 2023. The increase was attributed to an improved gross margin and lower costs for external inventory management.

Net Income

Thule Group AB's net income for the second quarter of 2024 was SEK 559 million, compared to SEK 539 million in the same period of 2023. This resulted in earnings per share of SEK 5.28 before and after dilution, up from SEK 5.14 in the previous year. The increase in net income was supported by higher operating income and strong sales performance.

Cash Flow

Cash flow from operating activities for Thule Group AB in the second quarter of 2024 was SEK 879 million, a significant increase from SEK 718 million in Q2 2023. This robust cash flow was driven by improved profitability and efficient working capital management, reflecting the company's strong operational performance.

New Financing Agreement

During the second quarter of 2024, Thule Group AB entered into a new financing agreement, replacing the previous one from June 2018. The new agreement, effective in Q2 2024, provides a total financing amount of EUR 400 million, consisting of a EUR 320 million revolving credit facility and an EUR 80 million long-term loan. This new financing arrangement is expected to support Thule's growth initiatives and strategic investments.

Summarized from source with an LLMView Source

Key figures

-1.77%1Y

-41.7%3Y

38.8%5Y

Performance

32.0%1Y

40.5%3Y

38.4%5Y

Volatility