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

moomoo AI ·  Apr 27 01:44  · 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: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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