Thule Group (publ) Year-end report, fourth quarter, October–December 2023
February 09, 2024 at 01:47 am EST
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Fourth Quarter
Net sales for the quarter amounted to SEK 1,566m (1,651), corresponding to a decrease of 5.2 percent. Adjusted for exchange rate fluctuations, sales declined 5.6 percent.
Operating income amounted to SEK 53m (4), corresponding to a margin of 3.4 percent (0.2). Adjusted for exchange rate fluctuations, the operating margin increased 2.8 percentage points.
Net income amounted to SEK 24m (Loss: 16).
Cash flow from operating activities totaled SEK 276m (110).
Earnings per share before dilution amounted toSEK 0.23 (loss: 0.15).
The Board of Directors proposes a dividend of SEK 9.50 per share (9.20) which, based on the number of shares outstanding on February 9, 2024, corresponds to a dividend of SEK 1,004m (967).
Full year
Net sales for the full year amounted to SEK 9,132m (10,138), corresponding to a decrease of 9.9 percent. Adjusted for exchange rate fluctuations, sales declined 15.2 percent.
Operating income amounted to SEK 1,505m (1,706), corresponding to a margin of 16.5 percent (16.8). Adjusted for exchange rate fluctuations, the operating margin decreased 0.8 percentage points.
Net income amounted to SEK 1,099m (1,275).
Cash flow from operating activities totaled SEK 1,850m (616).
Earnings per share before dilution amounted toSEK 10.45 (12.19).
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.