Year End Report 2005
Highlights compared with the fiscal year 2004
Sales increase during 2005 by 13.5% to SEK 3,160 M (2,785), adjusted for currency and acquisition effects an increase of 6.7%
Operating profit (EBITA) before one-off items increased by 10.8 % to SEK 391 M (353)
Thule acquired Swedish horse trailer manufacturer Star Industrier and Belgian Omnistor Accessories NV, producing accessories for motor homes and caravans.
European Trailer division increased sales by 31.4% to SEK 718 (546) M; adjusted for the acquired growth of Star Industrier an increase of 25.1%
Comments from the CEO Anders Pettersson
“2005 has been the year where Thule took an important step in fulfilling its growth ambitions. Despite a slow start to the year the company surpassed the SEK 3 billion sales barrier and is well on its way completing its strategy of doubling the size of the company by the end of 2007”, comments CEO Anders Pettersson. “2005 saw extremely good sales growth in very important markets for our Car Rack Systems such as in Germany and in Eastern Europe as well as within our European Trailer operations exceeding 20%”, continues Anders Pettersson. “We managed successfully to integrate two new operations, demonstrating our ability in pursuing a growth strategy based on organic and acquired growth”, concludes Anders Pettersson.
Malmö, February 21st 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 € 345 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.