All Thule Group articles – Page 2
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News briefsThule expects impact on its bicycle business from reduced orders
In a webcast meeting with Magnus Welander, CEO and president of the Thule Group, the company informed about the current market situation just before the company’s Q3 report 2022, which is scheduled for Oct. 26. In its half-year report on July 21, the company described the general market situation in ...
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ArticleThule Group maintains Q2 gross margin on price hikes, efficiencies
Source: Thule Group Magnus Welander, President and CEO Thule Group was able to maintain its second-quarter gross margin rate at 42.2 percent year-on-year through price increases and efficiencies that helped offset negative margin impacts from higher raw material costs and freight prices coupled with unfavorable exchange rates. ...
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ArticleThule Group with new product categories, updates financial targets
At its capital markets day, the Swedish Thule Group has presented plans to enter the two new product categories in 2023: car seats – to be launched in Europe first, expanding worldwide in a second step – and dog transport products, starting with a dog cage. The company was also ...
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News briefsHans Eckerström succeeds Bengt Baron as chairman of Thule Group
At Thule Group’s Annual General Meeting, long-time board member Hans Eckerström was elected to succeed Bengt Baron as chairman of the board. Baron had decided in the fall of 2021 to retire from his role at this year’s AGM after eleven years on the board, the last four of which ...
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ArticleThule sees continued sales growth while margins are squeezed by higher costs
The Swedish-based Thule Group saw sales rise by 15.0 percent in the fourth quarter of 2021 to 1,846 million Swedish kronor (€177.5m) as demand for its outdoor products remained strong. However, margins were squeezed by “significant” cost increases compared to the year earlier. On a currency-adjusted basis, sales went up ...
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ArticleGreen awareness provides greater tailwind for bike stocks in 2021
2021 had it all: on the one hand, more lockdowns, virus variants, inflation, zero or negative interest rates, supply bottlenecks, political crises, trade and other wars, etc. On the other hand, 2021 experienced a world stock market that trudged steadily upward. This also gave our 2021 cycling stock some major ...
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ArticleOutdoor and bike industry stocks rose by 3.0% in Q4
Our quarterly analysis of the outdoor stock market shows a 3.0 percent sequential increase in the average stock prices of 32 public companies primarily involved in the outdoor and bicycle sectors between Sept. 30 and Dec. 31, 2021. This came after increases for most of the same companies of 18.9 ...
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ArticleThule sees gains in RV products and carrier systems
The outdoor trend, which kicked in after the Covid-19-related lockdowns, has once again brought good sales growth for the Swedish Thule Group. The trend toward outdoor and leisure activities closer to home continued to positively impact all of the group’s product categories in the third quarter. According to Thule’s preliminary ...
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ArticleThule benefits from growing recreational trends despite lockdowns in Q2
Continuing its strong growth trend for the fourth quarter in a row, the Swedish-based Thule Group reported improved results for the second quarter ended June 30. Net sales went up by 58.1 percent to 3,229 million Swedish kronor (€315.5m-$371.4m) compared to the same period a year ago, when major ...
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News briefsThule’s momentum continues through Q1
Everything is going well for Swedish Thule Group . In an interim report, it published sales for the first quarter that soared by 45.5 percent from the year-ago quarter to 2,538 million Swedish kronor (€250.7m-$301.6m) or by 56.0 percent in constant currencies. Net income jumped to SEK 447 million ...
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ArticleThule sets new sustainability targets
Thule Group achieved better-than-expected results in 2020 by riding the strong global bike trend that started in June. Sales rose by 11.2 percent from the previous year to 7,828 million Swedish kronor (€777.1m-$942.7m) or 13.1 percent in constant currencies. In its annual report, the Swedish company attributed these ...
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ArticleRobust sales and earnings for Thule
Swedish Thule Group saw its sales soar by 32.6 percent from the year-ago quarter to 1,605 million Swedish kronor (€159.3m-$193.2m) or 44.6 percent in constant currencies. Net income jumped to SEK 164 million (€16.3m-$19.7m), from SEK 30 million for the fourth quarter of 2019. The gross ...
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News briefsNew President Americas at Thule Group
Hilary Hartley has been named Thule Group’ s Americas business area president and will join the global corporate leadership team, reporting to CEO and president Magnus Welander in Sweden. Fred Clark , who currently holds the role of Americas region president and announced his decision to retire last ...
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News briefs
Thule Group joins Science Based Target Initiative
With the ambition to further reduce its greenhouse gas emissions, the Thule Group has joined the Science Based Targets Initiative . With this step, Thule is setting even clearer goals for its ongoing long-term efforts to reduce its own greenhouse gas emissions and those of its suppliers. Joining the ...
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ArticleThule posts strong results
The third quarter was a good one for Thule Group , the Swedish company best known for its roof boxes and bike racks. It saw its net income soar by 148.6 percent from the year-ago quarter to 449 million Swedish kronor (€43.3m-$51.3m), while revenues jumped by 44.9 percent ...
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ArticleThule Group is changing its senior management
Thule Group is forming a new senior management team to take a “global approach” to its supply chain and product development, starting on Oct 1. The change comes with the announcement that Fred Clark , business area president for the Americas region, will be retiring in early 2021, as ...
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ArticleThule gets sales rebound late in the quarter
Thule Group , the Swedish company best known for its roof boxes and bike racks, but also selling strollers, luggage and roof tents, saw its net income for the second quarter drop by 25.6 percent from the year-ago quarter to 312 million Swedish kronor (€30.5m-$34.8 m), while revenues went ...
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