Thule Group AB (OSTO:THULE)
kr 281 0 (0%) Market Cap: 29.71 Bil Enterprise Value: 31.76 Bil PE Ratio: 26.38 PB Ratio: 3.95 GF Score: 71/100
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Full Year 2023 Thule Group AB Earnings Call Transcript

Feb 09, 2024 / 09:00AM GMT
Release Date Price: kr291.2 (+5.78%)
Mattias Ankarberg Thule Group AB;CEO;President

&

Welcome everybody to this Q4 call. I have with me also our new CFO, Toby Lawton, some of you have met Toby already. And for the rest of you, I hope you will soon. But as if this is passing, it is Q4. We will cover both the quarter and the full year today, and we will follow the presentation available on our website and on the conference call.

Starting on page 2 and with overview of the quarter, it delivers a solid result in it's a still a tough market as it was in Q3, sales declined 5.6% currency adjusted and the sales trends are really a continuation of what we saw in Q3, we will get back to that.

As we also saw in Q3, we are, of course, pleased to see that new Thule products continue drive growth also in a tougher market, EBIT improved a lot versus last year SEK53 million versus SEK4 million last year. And the cash flow is particularly strong in the quarter with SEK276 million.

Turning to the full year, what stands out is really the cash flow, sales was down minus 15% currency adjusted. We had a quite

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