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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Q3 2022 Thule Group AB Earnings Call Transcript

Oct 27, 2022 / 08:00AM GMT
Release Date Price: kr218 (-3.02%)
Operator

Hello, everyone, and welcome to the Thule Group Interim Report Third Quarter 2022 Call. My name is Davy, and I'll be your moderator today. (Operator Instructions) I would now like to hand the call over to your host, Magnus Welander, the CEO, to begin. So Magnus, please go ahead.

Magnus Welander;publ;CEO;President
Thule Group AB

()-&

Thank you very much, Davy. So good morning, ladies and gentlemen, for the third quarter call in the Thule Group. And what a quarter it has been to say the least. So we move to Slide 2 in the presentation. And it's clear that what we have seen in the third quarter as the quarter started has been a surprise to us. If we remind ourselves, first and foremost, what we said in -- after the second quarter call was the fact that we saw a clear worry in that bike retailers were sitting with significant stock levels. However, we grossly underestimated their decisions to act in a very abrupt and very decisive manner to ensure that they didn't continue to build up inventory rather that they

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