Thule (publ) : interim report, second quarter, April–June 2020
July 21, 2020 at 01:46 am EDT
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Net sales for the quarter amounted to SEK 2,043m (2,311), corresponding to a decrease of 11.6 percent. Adjusted for exchange rate fluctuations, sales declined 12.3 percent.
Operating income amounted to SEK 430m (558), corresponding to a decrease of 23.0 percent and a margin of 21.0 percent (24.1). Adjusted for exchange rate fluctuations, the margin declined 3.0 percentage points.
Net income was SEK 312m (419).
Cash flow from operating activities totaled SEK 523m (431).
Earnings per share before dilution amounted toSEK 3.02 (4.06).
The coronavirus pandemic had a significant negative impact on sales in the quarter.
Thule Group AB is a Sweden-based company engaged in the development and manufacture of sport, outdoor and cargo products. Its offering is divided in two business segments: Outdoor&Bags and Specialty. The Outdoor&Bags segment comprises three product categories: sport and cargo carriers, bags for electronic devices, and other outdoor and bags; as well as several product groups, namely bike and car carriers, water and winter carriers, camera bags, laptop cases, recreational vehicle products, roof racks, and sports and travel bags, among others. The Specialty segment comprises two product categories: work gear and snow chains; and such product groups as pick-up truck tool boxes, and professional and consumer snow chains. The Company's brands are Thule, Case Logic, Konig, UWS, TracRac and SportRac. Its products are sold to retailers, distributors and wholesalers and available in more than 130 countries. The Company is a subsidiary of Thule Group.