Apr 29, 2025 / 07:30AM GMT
Mattias Ankarberg - Thule Group - President, Chief Executive Officer
Thank you, operator, and welcome everybody to this Q1 call. I'm joined as usual, here today by Toby Lawton, our CFO, and we'll take you to the material that will also be available on our, investor relations website afterwards.
So, starting off in the first quarter of the year, Turley is growing despite a clearly weak North America.
Sales increased in total 10% versus last year.
The market in North America is weak, and I'm sure we'll get back to that, but there is also cautious behaviour across the world after the announcement of the tariffs in the US in February.
Organic growth was 3, with clear differences between the geographies. North America declined 13% versus Europe was flat.
And it's nice to see though that we continue to see growth from new Thule products even in this market and also that the three new product categories that we have continue to add sales growth, including the acquired quad lock that came at the end of last year.
Gross margin increased to an all-time high
Q1 2025 Thule Group AB Earnings Call Transcript
Apr 29, 2025
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