Thule Group (publ) Year-end report, fourth quarter, October–December 2023

Press release
Thule Group (publ) Year-end report, fourth quarter, October–December 2023

Fourth Quarter

  • Net sales for the quarter amounted to SEK 1,566m (1,651), corresponding to a decrease of 5.2 percent. Adjusted for exchange rate fluctuations, sales declined 5.6 percent.
  • Operating income amounted to SEK 53m (4), corresponding to a margin of 3.4 percent (0.2). Adjusted for exchange rate fluctuations, the operating margin increased 2.8 percentage points.
  • Net income amounted to SEK 24m (Loss: 16).
  • Cash flow from operating activities totaled SEK 276m (110).
  • Earnings per share before dilution amounted to SEK 0.23 (loss: 0.15).
  • The Board of Directors proposes a dividend of SEK 9.50 per share (9.20) which, based on the number of shares outstanding on February 9, 2024, corresponds to a dividend of SEK 1,004m (967).


Full year

  • Net sales for the full year amounted to SEK 9,132m (10,138), corresponding to a decrease of 9.9 percent. Adjusted for exchange rate fluctuations, sales declined 15.2 percent.
  • Operating income amounted to SEK 1,505m (1,706), corresponding to a margin of 16.5 percent (16.8). Adjusted for exchange rate fluctuations, the operating margin decreased 0.8 percentage points.
  • Net income amounted to SEK 1,099m (1,275).
  • Cash flow from operating activities totaled SEK 1,850m (616).
  • Earnings per share before dilution amounted to SEK 10.45 (12.19).
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