Q4 2024 Thule Group AB Earnings Call Transcript

Feb 7, 2025 / 09:00 AM GMT

Release Date Price: $28.61

Transcript

Key Points

Positve

Thule Group AB (THLPF) achieved a 5% growth for the full year, driven by new products and bike-related items.
The company reported an all-time high gross margin of 42.7% for the year.
Thule Group AB (THLPF) successfully launched new product categories, including dog transportation and child car seats.
The acquisition of Quad Lock, a market leader in performance phone mounts, contributed positively to growth.
The company was recognized for its sustainability efforts, ranking among the top 50 globally in the Morningstar Sustainalytics rankings.

Negative

The North American market remains challenging, particularly in the RV segment.
The fourth quarter showed flat or slightly down organic growth, impacted by seasonality and weak bike sales.
Higher SG&A costs were incurred due to numerous product launches, affecting overall profitability.
The RV product category experienced a 7% decline in net sales for the quarter and 3% for the full year.
There is still uncertainty regarding tariffs and their potential impact on the company's cost structure.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

THULE.ST - Thule Group AB
Q4 2024 Thule Group AB Earnings Call
Feb 07, 2025 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Thank you very much and welcome everybody to this Q4 call. I am also here, joined by Toby Lawton, our CFO and we will do this presentation together, followed by Q&A. And as usual, we will speak to a presentation that will be available on our, on our investor relations website.

So let's start off on page 2. We've had a good year. It's been really busy to say the least, but it's also paid off. This is a year where we are back to profitable growth. Despite the market being still challenging, it's the biggest product launch year in to the history. More new products than ever.

We have also entered three new product categories. In the beginning of 24 we launched dog transportation with the first product to Alex Dore.

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