Thule (publ) : Interim report, first quarter, January–March 2020
April 28, 2020 at 01:46 am EDT
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Net sales for the quarter amounted to SEK 1,744m (1,834), corresponding to a decrease of 4.9 percent. Adjusted for exchange rate fluctuations, sales declined 7.5 percent.
Operating income amounted to SEK 325m (342), corresponding to a decrease of 4.9 percent and a margin of 18.7 percent (18.7). Adjusted for exchange rate fluctuations, the margin declined 0.4 percentage points.
Net income was SEK 241m (253).
Cash flow from operating activities totaled SEK 8m (outflow: 145).
Earnings per share before dilution amounted toSEK 2.33 (2.46).
The coronavirus pandemic impacted sales during the second half of March, which is the most important part of the quarter. As communicated earlier, Thule Group foresees a more significant impact in the second quarter, which is normally the company’s peak season.
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 Companyâs 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.
THULE GROUP AB 
