Financial Targets

  • Sales growth
    Our long-term target is to achieve annual organic net sales growth of at least 5 percent (after exchange-rate adjustment).

    2015: We grew sales organically with 5.1 percent (after exchange-rate adjustments).
  • EBIT margin
    At the IPO on November 26, 2014 we presented the long-term target to achieve an EBIT margin (adjusted for items affecting comparability) of at least 15 percent .
    As we in 2015 divested our Snow Chain division and at the same time continued to improve our overall EBIT margin a new long-term target was set at the time of communicating the interim report for Q4/2015.
    The new long-term target is to achieve an EBIT margin (adjusted for items affecting comparability) of at least 17 percent .

    Our EBIT Margin improved from 14.6 percent to 16.0 percent thanks to the divestment  of snow chains and improvements in the continued business, which was in line with plans for achieving our long-term target.

  • Capital structure (Net debt/EBITDA)
    We aim to maintain an effective long-term capital structure, defined as the net debt to EBITDA ratio (adjusted for items affecting comparability) of about 2.5x.

    2015: We reduced our net debt in relation to underlying EBITDA from 3.4x to 2.3x, in line with our long-term target.
  • Dividend policy
    The Board of Directors has adopted a dividend policy whereby at least 50 percent of Thule Group’s net profit shall be paid in dividends over time, taking into account the targeted capital structure defined as net debt in relation to recurring EBITDA of around 2.5x.
    Furthermore, the Board of Directors shall take into account a number of additional factors, including Thule Group’s future profits, investment needs, liquidity and development opportunities as well as general economic and business conditions, when proposing a dividend.

    2015: Divedend of SEK 2.50 per share for the year, to be distributed on two occasions in May and October. This entails an increase of 0.50 SEK per share compared with previous year and a dividend of 56 percent in line with the long-term target.

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