Slide 1: 2021 Jul-Sep Report
2021 Jul-Sep Report October 22, 2021 Magnus Welander, CEO Jonas Lindqvist, CFO
Slide 2: Executive Summary: 2021/Q3 Results – Another very strong quarter
Executive Summary: 2021/Q3 Results – Another very strong quarter ▪ Sales 2,772 MSEK +16% Fx adjusted vs PY ▪ Region Europe & RoW: 1,922 MSEK (1,827) +7% Fx adj. ▪ Region Americas: 850 MSEK (609) +45% Fx adj. ▪ Gross Margin at 40.6% (42.9%) ▪ Higher raw material- and freight expenses in the quarter ▪
Slide 3: 2021/Q3 – Net Sales and EBIT development
2021/Q3 – Net Sales and EBIT development Reported Net Sales EBIT and Margin SEKm SEKm 24.4% 24.2% 2 436 2 772 +14% 596 +13% 670 Q3 +16%1 +17%1 Q3 2020 Q3 2021 Q3 2020 Q3 2021 SEKm SEKm 25.2% 8 540 21.7% +37% 2 150 6 223 +44%2 1 350 +59% YTD +64%2 YTD 2020 YTD 2021 YTD 2020 YTD 2021 1 Constant curren
Slide 4: Thule Group Sales by Quarter (Reported currency)
Thule Group Sales by Quarter (Reported currency) Thule Group Sales by Quarter (Reported Currency) ▪ Very strong 2021/Q1 – also vs. 2019 SEKm ▪ +46% vs 2020/Q1 (reported currency) +56% vs 2020/Q1 (Fx adjusted) 3500 ▪ +45% vs 2019/Q1 (Fx adjusted) 3 229 2018 ▪ 2020/Q1 hit from mid-March with lock-down
Slide 5: Region Europe & RoW: Continued strong momentum
Region Europe & RoW: Continued strong momentum ▪ 2021/Q3 Net sales 1,922 MSEK (1,827) +7% growth (constant currency) ▪ 2020/Q3 posted +59% Fx adjusted sales vs 2019/Q3 as markets opened up and the normal spring season became a late summer and autumn season ▪ 2021 YTD Sep. Net sales 6,285 MSEK (4,646
Slide 6: Region Americas: Growth across all markets
Region Americas: Growth across all markets ▪ 2021/Q3 Net sales 850 MSEK (609) +45% growth (constant currency) ▪ 2020/Q3 posted +36% Fx adjusted vs 2019/Q3 as markets opened up and the normal spring season became a late summer and autumn season ▪ 2021 YTD Sep. Net sales 2,255 MSEK (1,577) +57% growth
Slide 7: 2021/Q3 Reported income statement
2021/Q3 Reported income statement Q3 Q3 YTD YTD ▪ Sales growth +14% in the quarter in MSEK 2021 2020 2021 2020 LTM reported currency Net sales 2 772 2 436 8 540 6 223 10 145 Cost of goods sold -1 647 -1 392 -5 001 -3 636 -5 964 ▪ Gross margin 40.6% (42.9%) Gross income 1 125 1 044 3 538 2 587 4 181
Slide 8: Thule Group Financials 2021/Q3: Working Capital and Cash Flow
Thule Group Financials 2021/Q3: Working Capital and Cash Flow Operating Working Capital Operating Working Capital SEKm ▪ Q3: Operating working capital in relation to sales 3000 20,7% 19,2% on same level as in Q3 last year. 19,1% 20% ▪ Inventory build-up ahead of season to minimize risk 1 947 from su
Slide 9: 2021/Q4 Focus – Operational focus to prepare for 2022 season
2021/Q4 Focus – Operational focus to prepare for 2022 season ▪ Continued focus on proven growth strategy with opportunity to push growth investments earlier ▪ Significant expansion at all main plants underway ▪ Aggressive Product Development push to fuel future growth ▪ Global Thule Test Centre Expa
Slide 10: Q&A
Q&A
Slide 11: Forward-looking statements
Forward-looking statements ▪ Some statements herein are forward-looking and the actual outcome could be materially different. ▪ In addition to the factors explicitly commented upon, the actual outcome could be materially and adversely affected by other factors such as the effect of force majeure, ec
Slide 12: Thule Group – Active Life, Simplified
Thule Group») ACTIVE LIFE, SIMPLIFIED