Year-end report, fourth quarter, October-December 2014
The year-end report for the period January – December 2014 was published on 12 February 2015.
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Year-end report, fourth quarter, October-December 2014
Fourth Quarter
- The Thule Group was listed through an initial public offering on November 26 on the Nasdaq Stockholm Mid Cap list under the ticker: THULE.
- Net sales[1] for the quarter amounted to SEK 976m (924) corresponding to an increase of 5.6 percent. Adjusted for exchange-rate fluctuations, sales declined 3.3 percent.
- Underlying EBIT1 amounted to SEK 37m (45), corresponding to an operating margin of 3.8 percent (4.9). Operating income (EBIT)1 was a negative SEK 21m (30) and net income1 for the period was a negative SEK 100m (- 52).
- Earnings per share before and after dilution1 amounted to negative SEK 1.11 (- 0.62).
Full year
- The strategic realignment of Thule Group as a consumer brand company in the sport and outdoor industry has been completed. Thule Group’s Trailer Division and Towing Division were divested in 2014 and are reported as discontinued operations.
- Net sales1 for the full year amounted to SEK 4,693m (4,331) corresponding to an increase of 8.4 percent. Adjusted for exchange-rate fluctuations, sales rose 3.5 percent.
- Underlying EBIT1 amounted to SEK 686m (588), corresponding to an operating margin of 14.6 percent (13.6). Operating income1 totaled SEK 599m (514) and net income1 for the period was SEK 199m (299).
- Cash flow from operating activities for total operations[2] was SEK 355m (390).
- Earnings per share before and after dilution1 amounted to SEK 2.32 (3.54).
- The Board of Directors proposes a dividend of SEK 2.00 per share for 2014 to be distributed over two payment dates, SEK 1.00 in May and SEK 1.00 in October.
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, 12 February, at 10:00 a.m. (CET).
For participation please dial +46 8 – 566 426 91 (Sweden), +44 20 34281400 (UK) or +1 855 7532236 (USA).
A replay of the call we be available at www.thulegroup.com/en/reports later during the day.
| This information is disclosed in accordance with the Swedish Financial Instruments Trading Act. The information was submitted for publication on 12 February 2015 at 08:00 a.m. CET. |
[1] Based on continuing operations, excluding operations discontinued during 2014. Correspondingly, the comparison periods have been divided into continuing and discontinued operations.
[2] Based on total operations, meaning both continuing and discontinued operations.