Quarterly report 1Q 2006

Highlights compared with the first quarter 2005

Sales increase during first quarter 2006 by 39.6% to SEK 905 M (649), adjusted for currency and acquisition effects an increase of 17.3%

Strong winter season with excellent thru sales and good pre seasonal sales in all five divisions are the main reasons for the increase in sales and operating profit

Operating profit (EBITA) before one-off items increased by 58% to SEK 94 M (59)

Thule acquires Pewag Schneeketten Gmbh, a leading Austrian supplier for snow chains with annual sales of € 48 million.

“After the slow start in 2005 Thule experienced during the first quarter for 2006 a very strong demand in all five divisions. Thule’s proven ability to deliver products in line with the seasonal requirements on a broad geographic scale are the cornerstones for our organic growth throughout the year”, comments CEO Anders Pettersson.

Malmö, April 25th 2006

Thule AB

For further information please contact:
Anders Pettersson, CEO, phone: +46 (0)703 414150
Daniel Oelker, SVP Corporate Communication, phone: +46 (0)730 799004

About Thule:

The Thule Group is the world leader within Sports Utililty Transportation delivering transportation solutions for active families and outdoor enthusiasts wanting to transport their equipment by vehicles safely, easily and in style. The product portfolio comprises load carriers for cars such as rooftop boxes, roof rails and bike carriers. Additionally, the company offers snow chains, trailers as well as accessories for motor homes and caravans. Thule has 2,300 employees at over 20 production and sales units on all major car markets in North America, Europe, Africa and Asia. Sales in 2005 amounted to SEK 3.2 billion (approx € 340 M). Thule AB is based in Malmö, Sweden, and majority owned by the UK-based private equity firm Candover. More information at www.thule.com.