Thule Group (publ) - Interim report for the third quarter, July-September 2017

Press release

Thule Group (publ) - Interim report for the third quarter, July-September 2017

• Net sales (1) for the quarter amounted to SEK 1,385m (1,295), corresponding to an increase of 6.9 percent. Adjusted for exchange rate fluctuations, sales rose 8.5 percent.
  
  
• Underlying EBIT (1) amounted to SEK 258m (238), corresponding to an increase of 8.5 percent and a margin of 18.6 percent (18.4). Adjusted for exchange rate fluctuations, underlying EBIT rose 8.5 percent and the margin remained unchanged.
  
  
• Net income (1) was SEK 185m (156).
  
  
• Cash flow from operating activities (2) totaled SEK 519m (436).
  
  
• Earnings per share before dilution (1) amounted to SEK 1.81 (1.55).
  
  
• Updated financial targets were presented in conjunction with the capital markets day held on September 20, with a raised long-term EBIT margin of ≥  20%(from ≥  17%) and a new range for the leverage ratio, Net debt/EBITDA at of 1.5 – 2.5x (previously around 2.5x).
  
  

The full report is available at www.thulegroup.com 

Conference call
A combined press- and analyst call with Magnus Welander, CEO and President, and Lennart Mauritzson, CFO, is scheduled for today, October 27, 2017, at 10:00 a.m. (CET).
The conference will be in English.
Information about the conference call is available at www.thulegroup.com 

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This information is information that Thule Group AB is obliged to make public pursuant to the EU Market Abuse Regulation.
The information was submitted for publication, through the agency of the contact person set out below, at 07h45 a.m. CET on October 27, 2017.
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(1) The figures pertain to continuing operations, excluding the Specialty segment, which was divested in June 2017 and constitutes discontinued operations. 
(2) Based on total operations, meaning both continuing operations and the operation divested in June 2017.