Net sales for the quarter amounted to SEK 1,605m (1,211), corresponding to an increase of 32.6 percent. Adjusted for exchange rate fluctuations, sales increased 44.6 percent.
Operating income totaled SEK 241m (47). Underlying EBIT amounted to SEK 241m (71), corresponding to a margin of 15.0 percent (5.9).Adjusted for exchange rate fluctuations, the operating margin increased 9.8 percentage points.
Net income amounted to SEK 164m (30).
Cash flow from operating activities totaled SEK 319m (174).
Earnings per share before dilution amounted toSEK 1.57 (0.29).
Full year
Net sales for the full year amounted to SEK 7,828m (7,038), corresponding to an increase of 11.2 percent. Adjusted for exchange rate fluctuations, sales increased 13.1 percent.
Operating income totaled SEK 1,591 (1,195). Underlying EBIT amounted to SEK 1,593m (1,245), corresponding to a margin of 20.3 percent (17.7). Adjusted for exchange rate fluctuations, the operating margin increased 2.2 percentage points.
Net income amounted to SEK 1,166m (883).
Cash flow from operating activities totaled SEK 1,614m (1,030).
The global pandemic impacted sales negatively in the spring, which is normally the company's peak season. A delayed season together with increased demand resulted in a substantial recovery in the second half of the year.
The Board of Directors proposes a dividend of SEK 15.50 per share, corresponding to SEK 1,621m based on the number of shares outstanding at February 10, 2021.
For invitation to conference call with web presentation following the report - please see the Thule Groiup website.
Contacts
Fredrik Erlandsson SVP Communications and Investor Relations
Tel: +46 70 309 00 21
E-mail: fredrik.erlandsson@thule.com
About Thule Group
Thule Group is a global world leading company of products for sports and and outdoor activities. We make it easy for people to bring the things they care for, easily, securely and in style, when living an active life. Under the motto Active Life, Simplified. we design, manufacture and sell products within the four product categories Sport&Cargo Carriers (roof racks, roof boxes and carriers for transporting cycling, water and winter sports equipment, as well as roof top tents for mounting on cars), Active with Kids (bike trailers, strollers and child bike seats), RV Products (awnings, bike racks and tents for motorhomes and caravans) and Packs, Bags & Luggage (everyday backpacks, hiking bike packs travel luggage and camera bags).
Thule Group has about 2,600 employees at 9 production facilities and 35 sales offices worldwide. The Group's products are sold in 140 markets and in 2020, sales amounted to SEK 7.8 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 2021-02-10 07:45 CET.
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Thule Group AB published this content on 10 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 February 2021 06:52:01 UTC.
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.