Slide 1: 2022 April-June Report
2022 April-June Report July 21, 2022 M. Welander, CEO J. Lindqvist, CFO
Slide 2: Executive Summary 2022/Q2: Good sales and maintained high margins
Executive Summary 2022/Q2: Good sales and maintained high margins ▪ Sales 3,314 MSEK -3% Fx adjusted vs PY ▪ Region Europe & RoW: 2,412 MSEK (2,446) -5% Fx adj. ▪ Region Americas: 902 MSEK (783) flat Fx adj. ▪ Gross Margin at 42.2% (42.2%) ▪ Fx adjusted increase of 0.5 p.p. vs 2021/Q2 ▪ Price increa
Slide 3: Thule Group Sales by Quarter (Reported currency)
Thule Group Sales by Quarter (Reported currency) ▪ A strong start to the first half of the year, 3 400 3 314 despite many negative external factors 3 229 2019 3 200 ▪ 2022/Q1 – Very strong, also vs 2019 3 034 2020 (pre-pandemic) 3 000 ▪ +20% vs 2021/Q1 (reported currency) 2021 +13% vs 2021/Q1 (Fx ad
Slide 4: 2022/Q2 – Net Sales and EBIT development
2022/Q2 – Net Sales and EBIT development Reported Net Sales EBIT and Margin MSEK MSEK 27.4% 24.7% 3 229 3 314 886 817 Q2 Q2 2021 Q2 2022 Q2 2021 Q2 2022 MSEK MSEK 25.7% 23.8% 6 348 5 768 1 480 1 509 YTD YTD 2021 YTD 2022 YTD 2021 YTD 2022 1 Constant currency adjustment based on average FX rates 1 Ap
Slide 5: CMD 2022 Summary – Entry into two new product areas
CMD 2022 Summary – Entry into two new product areas Attractive growing niche category ▪ Logical extension of Thule product portfolio Estimated* Global ▪ The dog is more and more becoming a close family member Market Size ▪ Currently many ways to transport dogs in car and on bike (mid to premium segm
Slide 6: CMD 2022 Summary – Two new product areas with very good fit for Thule
CMD 2022 Summary – Two new product areas with very good fit for Thule DOG TRANSPORT CAR SEATS BIG MARKET ( ) GLOBAL MARKET POSITIVE MARKET TREND HIGH GROSS MARGIN SIZEABLE SHARE IN PREMIUM FUNCTION & DESIGN BRAND & COMPETENCE FIT POSSIBILITY FOR M&A 6 2022-07-21 Thule Group 2022, Q2 Investor- and An
Slide 7: CMD 2022 – Summary: Active with Kids renamed Juvenile & Pet Products
CMD 2022 – Summary: Active with Kids renamed Juvenile & Pet Products TO DATE: Active with Kids NEW ADDITIONS FROM NOW Child Bike Trailers Strollers Dog Transport Products JUVENILE Child Bike Seats Child Carriers + Car Seats & PET PRODUCTS 7 2022-07-21 Thule Group 2022, Q2 Investor- and Analyst Prese
Slide 8: CMD 2022 – Summary: Updated Long-term Targets 2030
CMD 2022 – Summary: Updated Long-term Targets 2030 SUSTAINABILITY 20 bn. SEK by 2030 REVENUE Previous: Double 2020 revenue by 2030 2 x (7.8 bn. SEK in 2020), i.e. 15.6 bn. SEK 2030 Meet ambitious PROFIT Maintain >20% EBIT-Margin Science Based Targets for reduction of greenhouse gas emissions CASH DI
Slide 9: Region Europe & RoW: Stable performance
Region Europe & RoW: Stable performance ▪ 2022/Q2 Net sales 2,412 MSEK (2,446) -4.5% decline (constant currency) ▪ Bike related product categories down vs extraordinarily strong 2021/Q2 – still strongest growth category vs pre-pandemic period ▪ Roof Racks and Roof Boxes grow as consumers take vacati
Slide 10: Region Americas: Growth in Roof Boxes, Roof Racks and Bags
Region Americas: Growth if Roof Boxes, Roof Racks and Bags ▪ 2022/Q2 Net sales 902 MSEK (783) flat vs PY (constant currency) ▪ Bike related product categories down vs extraordinarily strong 2021/Q2 – still strongest growth category vs pre-pandemic period ▪ Roof Racks and Roof Boxes grow as consumers
Slide 11: 2022/Q2 Reported income statement
2022/Q2 Reported income statement ▪ Sales growth in the quarter +3% in reported Apr - Jun Jan - Jun Full-year currency 2022 2021 2022 2021 LTM 2021 ▪ -3% in constant currency Net sales 3 314 3 229 6 348 5 768 10 966 10 386 ▪ Gross margin 42.2% (42.2%) Cost of goods sold -1 914 -1 866 -3 733 -3 355 -
Slide 12: Thule Group Financials 2022/Q2: Cash Flow
Thule Group Financials 2022/Q2: Cash Flow Operating Working Capital Operating Working Capital MSEK ▪ Q2: Inventory build-up serves high OTIF in a 35,7% situation with Supply Chain constraints 5000 35% 4000 23,9% 3 914 30% ▪ Operating working capital, 30 Jun. 2022: 25% 3000 18,9% ▪ Inventory: 3 148 M
Slide 13: 2022/H2 – Operational focus to handle challenging market
2022/H2 – Operational focus to handle challenging market ▪ Continued focus on proven growth strategy with opportunity to push growth investments earlier ▪ Significant capacity expansion at main plants underway, with continued flexibility to adapt to changing conditions ▪ Product Development push to
Slide 14: Thule Group
Thule Group»
Slide 15: Disclaimer
Disclaimer ▪ This presentation has been prepared by Thule Group AB (publ) (the “Company”) solely for use at this presentation and is furnished to you solely for your information and may not be reproduced or redistributed, in whole or in part, to any other person. The presentation does not constitute
Slide 16: Active Life, Simplified
Thule Group») ACTIVE LIFE, SIMPLIFIED