The year in brief - 2024
Thule Group is a world-leading global company that develops and manufactures premium products that facilitate an active outdoor life.
Our products help you take your children, your dog and your gear with you on your adventure, trip, excursion or walk. Our products always make it easier for you to live an active life, whether in leisure time or in daily life.
A successful Thule on its way to the next level
Thule has proven that growth and improved profitability are possible even in a challenging consumer market. In 2024, we launched more new products than ever before, added three new product categories and strengthened our direct-toconsumer channel.
CEO commentsKeyfigures
9,541
Net Sales, SEKm
17%
EBIT Margin
3,961
Net debt
205,914
Greenhouse Gas emissions
Strategy
Thule’s market-leading positions and its ability to develop them is one of its greatest strengths.
- Focus on marketleading positions in attractive product categories
- Product-driven growth to expand our market position
- Acquisitions to complement organic growth
- Thule’s premium brand and culture
Targets
Financial targets
Turnover
Sustainable, long-term sales growth is at the core of the company’s value creation. A focus on growth drives an organization to perform better and fosters a winning culture.
Profitability
As a brand-driven lifestyle company, our growth must drive profitability and strengthen our earnings.
Dividend
We intend to distribute at least 75 percent, in relation to net profit, in the form of ordinary dividends
Sustainability targets
Greenhouse gases
We aim to reduce our environmental impact by reducing our emissions of direct and indirect greenhouse gases.
Health and safety
We are to provide safe and secure workplaces and have a zero-accident vision.
Supplier audits
We continuously audit our suppliers by means of annual risk assessments based on countries and product categories
An investment case on a strong foundation
Thule’s investment case is based on a history of more than 80 years in innovative product development, a globally recognized lifestyle brand and solid long-term efforts on climate and environmental issues as well as human rights. Growth benefits from a global trend that has been established for many years by which more people want to live an active life and there is a constantly growing interest in outdoor and leisure activities.
Investment case
Thule’s business concept and strong brand
Our business concept is to offer high-quality products with smart features and a sustainable design that make it easy for people across the globe to live an active life.
Thule has four product categories. Sport&Cargo Carriers is the largest, followed by RV-Products, Juvenile & Pets, and Packs, Bags & Luggage.
Sustainability
We only have one strategy – and it is sustainable
Our strategy is based on creating long-term value through consumer-driven innovation, proven material and manufacturing competence, financial strength and a strong focus on environmental, social and ethical matters throughout the entire value chain.
Caring is part of who we are
Genuine concern for people and the environment is deeply rooted in our DNA, as is giving back to our society. We believe in people’s inherent power to push boundaries and find new solutions to today’s challenges. Still, we must create an inclusive and multicultural work environment where our employees can thrive and develop to harness this power.
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