Slide 1: 2021 Apr-Jun Report
2021 Apr-Jun Report July 21, 2021 Magnus Welander, CEO Jonas Lindqvist, CFO
Slide 2: Executive Summary: 2021/Q2 Results – Very strong momentum continues
Executive Summary: 2021/Q2 Results – Very strong momentum continues ▪ Sales 3,229 MSEK +69% Fx adjusted vs PY ▪ Region Europe & ROW: 2,446 MSEK (1,465) +74% Fx adj. ▪ Region Americas: 783 MSEK (577) +53% Fx adj. ▪ Gross Margin at 42.2% (40.6%) ▪ EBIT Margin at 27.4% (21.0%) ▪ EBIT of 886 MSEK vs 430
Slide 3: 2021/Q2 – Net Sales and EBIT development
2021/Q2 – Net Sales and EBIT development Reported Net Sales EBIT and Margin SEKm SEKm 27.4% 21.0% 3 229 886 2 043 +58% Q2 +69%1 430 +106% +108%1 Q2 2020 Q2 2021 Q2 2020 Q2 2021 SEKm SEKm 25.7% 5 768 20.0% +52% 1 480 3 787 +63%2 +96% YTD 755 +101%2 YTD 2020 YTD 2021 YTD 2020 YTD 2021 1 Constant curre
Slide 4: Pandemic lock-down effects in 2020 creates strange comps by quarter
Pandemic lock-down effects in 2020 creates strange comps by quarter Thule Group Sales by Quarter (Reported Currency) ▪ Very strong 2021/Q1 – also when compared with more normal 2019 SEKm ▪ +46% vs 2020/Q1 (reported currency) +56% vs 2020/Q1 (Fx adjusted) 3500 3229 ▪ +45% vs 2019/Q1 (Fx adjusted) ▪ 2
Slide 5: Region Europe & RoW: All categories perform well
Region Europe & RoW: All categories perform well ▪ 2021/Q2 Net sales 2,446 MSEK (1,465) +74% growth (constant currency) ▪ 2020/Q2 posted -12% Fx adjusted sales vs 2019/Q2 as lock-down restrictions impacted sales in April and May ▪ Strong growth across all markets ▪ Market leading portfolio in the bi
Slide 6: Region Americas: All categories perform well
Region Americas: All categories perform well ▪ 2021/Q2 Net sales 783 MSEK (577) +53% growth (constant currency) ▪ 2020/Q2 posted -12% Fx adjusted vs 2019/Q1 as the first N. American lock-down measures restricted sales ▪ Sales growth in all markets ▪ Growth across the board within Sport&Cargo Carrier
Slide 7: 2021/Q2 Reported income statement
2021/Q2 Reported income statement Q2 Q2 YTD YTD ▪ Strong sales growth +58% MSEK 2021 2020 2021 2020 LTM Net sales 3 229 2 043 5 768 3 787 9 810 ▪ Gross margin 42.2% (40.6%) Cost of goods sold -1 866 -1 213 -3 355 -2 244 -5 709 ▪ Production overheads absorption Gross income 1 364 830 2 413 1 542 4 10
Slide 8: Thule Group Financials 2021/Q2: Cash Flow
Thule Group Financials 2021/Q2: Cash Flow Operating Working Capital Operating Working Capital ▪ Q2: Modest increase in operating working capital – lower as a SEKm percentage of sales 25,3% 23,9% 25% ▪ Operating working capital, 30 Jun. 2021: 3000 18,9% 20% ▪ Inventory: SEK 1 267m (948) currency effe
Slide 9: 2021/H2 Focus – Operational focus to meet strong demand
2021/H2 Focus – Operational focus to meet strong demand ▪ 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 Expansion
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, e
Slide 12: Thule Group - Active Life, Simplified
Thule Group») ACTIVE LIFE, SIMPLIFIED