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Thule Group AB (Publ) (THLPF) Q1 2024 Earnings Call Transcript Summary

Futu News ·  Apr 27 13:44  · Conference Call

The following is a summary of the Thule Group AB (Publ) (THLPF) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Thule Group reported Q1 2024 sales growth of 8% in currency adjusted terms, with Europe outperforming the Americas.

  • Gross margin remained flat compared to last year with an EBIT margin at 17%.

  • The company reduced inventory to SEK173 million in Q1 and it plans for further reductions of SEK200 million this year.

  • Thule Group's net debt stands just over SEK2 billion while its net debt to EBITDA margin is stable at 1.1 times.

Business Progress:

  • Thule conducted the most intense product launch season in its history, introducing successful products in the bike and sports cargo carriers categories.

  • The company is expanding its D2C growth in new markets, as shown by its recent expansion into the Czech Republic.

  • Has received a record number of international product design awards recognizing its commitment to quality and innovation.

  • Plans for new product launches in Q2 2024 include updates for its rooftop box and bike trailer, and an aspiration to enter the car seat market.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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