Long-term Targets
In connection with Thule Group's Capital Markets Day 2022, the long-term financial targets were updated.
Since Thule Group's IPO in November 2014, the company's strong development has meant that the level of ambition for the long-term financial goals has been raised in several steps. In connection with the Capital Markets Day 2022, the target for sales growth was further raised.
Long-term financial goals
| Sales growth | 20 Bio SEK by 2030 (previous target: Double 2020 sales by 2030, i.e. to reach 15.6 Bio SEK sales by 2030) |
|---|---|
| EBIT-margin | Long-term maintain > 20% underlying EBIT margin (previous goal: achieve underlying EBIT margin of 20%) |
| Dividend | > 75% in ordinary dividend, in relation to net profit (previous target: > 50% ordinary dividend, in relation to net profit) |
Long-term sustainability ambitions
Thule Group will continue the persistent sustainability work that has been an integral part of the Group's long-term way of operating since the company was founded in Hillerstorp, Sweden, in 1942. The sustainability targets are, in terms of environmental aspects, closely linked to the company's decision in the autumn of 2020 to commit to the Science Based Targets initiative (SBTi) and have a clear focus on fulfilling the Paris Agreement's ambition not to increase the earth's average temperature by more than 1,5 ° C.
| Scope 1 | 46% reduction, in absolute numbers, of greenhouse gases from our production sites, compared with the base year 2019. |
|---|---|
| Scope 2 | 100% renewable electricity at our own manufacturing sites and offices. |
| Scope 3 | An absolute reduction of greenhouse gases by 28% related to purchased materials and upstream and downstream logistics, compared with the base year 2019. |
Net-zero targets
Building upon the 2030 commitments, the Thule Group has sought approval from Science Based Targets initiative (SBTi) for its Net-zero targets. This means that by 2050, the Thule Group commits to reduce its overall emissions by at least 90% and to neutralise any residual emissions that are not possible to eliminate.
In addition to the sustainability targets related to SBTi, Thule Group has clear targets linked to, among other things, water consumption, recycling, health and safety.