Thule Group AB (publ) (THLPF) Q3 2024 Earnings Name Transcript

Thule Group AB (publ) (OTCPK:THLPF) Q3 2024 Earnings Convention Name October 23, 2024 4:00 AM ET

Firm Members

Mattias Ankarberg – CEO and President
Toby Lawton – CFO

Convention Name Members

Daniel Schmidt – Danske Financial institution
Gustav Hageus – SEB
Adela Dashian – Jefferies
Mats Liss – Kepler Cheuvreux
Benjamin Wahlstedt – ABG
Carl Deijenberg – Carnegie

Operator

Good morning everybody, and welcome to right this moment’s Thule Group Interim Report Q3 July to September 2024. My identify is Drew, and I will be your operator right this moment. Throughout right this moment’s name there might be a Q&A session. [Operator Instructions]

I’ll now flip the decision over to Mattias Ankarberg, CEO and President to start. Please go forward.

Mattias Ankarberg

Thanks very a lot and welcome, everyone to this quarterly name. I’m additionally joined right here, as regular, with — by Toby Lawton, our CFO, and we’ll converse to the presentation additionally out there on our web site.

I’ll begin off on Web page 2. The third quarter of the 12 months is an effective quarter for us, regardless of the continued powerful shopper market. We develop by 4% organically within the 12 months, extra in area Europe and the remainder of the world, 6%, and 1% in Americas. We’ll get again to market situations, however we proceed to see a greater market in Europe than in North America. And we proceed to see the expansion coming from new Thule merchandise, driving development despite the fact that the market is hard and likewise from bike associated merchandise the place the market is healthier.

We now have a powerful gross margin of near 43% within the quarter, and we’ve got an EBIT margin of 17.6%, which is the very best ever EBIT margin for the third quarter for Thule Group, excluding the pandemic interval years. And the overall EBIT in absolute phrases was SEK413 million, and Toby will get again