Thule Group Ab · OMXSTO:THULE

Thule Group Ab — Q4 2015 Earnings Presentation

14 slides from Thule Group Ab's earnings presentation, Feb 15, 2016

1. Slide 1: Year-end Report 2015

   Year-end Report 2015 February 15, 2016 Magnus Welander, CEO Lennart Mauritzson, CFO

2. Slide 2: Full Year 2015 – Financial Highlights

   Full Year 2015 – Financial Highlights Reported Net Sales Underlying EBIT and Margin SEKm 5 320 SEKm 15.8% 16.0% 4 556 850 718 Thule Group FY 2014 FY 2015 FY 2014 FY 2015 Thule Group Thule Group SEKm 4 862 SEKm 18.4% 18.4% 4 205 774 895 Outdoor & Bags FY 2014 FY 2015 FY 2014 FY 2015 Outdoor&Bags Outd

3. Slide 3: Q4 2015 Highlights – Strategic focus on growing core business continues

   Q4 2015 Highlights – Strategic focus on growing core business continues  Net sales of SEK 980m (900)  Thule Group +8.8% (+3.0% excluding currency effects)  Outdoor&Bags +6.7% (+1.9% excluding currency effects)  Specialty +27.8% (+12.3% excluding currency effects)  Underlying EBIT of SEK 48m (34

4. Slide 4: Q4 2015 and Full-year 2015 - Net Sales and EBIT by Segment

   Q4 2015 and Full-year 2015 - Net Sales and EBIT by Segment Outdoor&Bags Oct-Dec Change Jan-Dec Change 1 SEKm 2015 2014 Rep. Adjust. 2015 2014 Rep. Adjust.1 Net sales 864 809 6.7% 1.9% 4 862 4 205 15.6% 5.0% - Region Europe & ROW 513 481 6.5% 5.1% 3 156 2 761 14.3% 9.1% - Region Americas 351 328 7.0%

5. Slide 5: Full Year 2015 – Net Sales by Product Category in Segment Outdoor&Bags

   Full Year 2015 – Net Sales by Product Category in Segment Outdoor&Bags Sport&Cargo Carriers Other Outdoor&Bags Bags for El. Devices Share of 15.7% Thule Group (18.6%) Sales 2015 60.2% (59.5%) 15.5% (2014) (13.5%) Growth 2015 vs 2014 (Constant Currency) +6.7% +20.7% -11.2% Continue to drive growth Co

6. Slide 6: Key Product Launches in the Period – Sport&Cargo Carriers

   Key Product Launches in the Period – Sport&Cargo Carriers Thule SnowPack  Sleek aerodynamic ski carrier for all types of modern skis and snowboards Thule Flow  Dedicated ski box with aerodynamic design for the winter sport enthusiast Slide 6 Feb. 15, 2016 Thule Group AB - Year-end Q4/2015 Results

7. Slide 7: Key Product Launches in the Period – Other Outdoor&Bags

   Key Product Launches in the Period – Other Outdoor&Bags Thule RoundTrip Boot and Ski Packs  Smart packs with practical compartments and generous reinforcements Thule Upslope  Ski backpacks with easy access to gear while keeping the bag on your back Slide 7 Feb. 15, 2016 Thule Group AB - Year-end Q

8. Slide 8: Key Product Launches in the Period – Bags for Electronic Devices

   Key Product Launches in the Period – Bags for Electronic Devices Case Logic LoDo collection  Contemporary design and high quality cotton canvas combined with smart features deliver a stylish collection of laptop packs and sleeves perfect for work, school or travel Case Logic Huxton collection  A s

9. Slide 9: Reported Income Statement

   Reported Income Statement Q4 Q4 Jan-Dec Jan-Dec SEKm 2015 2014 2015 2014 Net sales 980 900 5.320 4.556 Cost of goods sold -638 -578 -3.269 -2.741 Gross income 341 323 2.051 1.816 Other operating revenue 0 0 1 5 Selling expenses -218 -245 -927 -860 Administrative expenses -77 -76 -299 -274 Other oper

10. Slide 10: Operating Working Capital and Operational Cash Flow

    Operating Working Capital and Operational Cash Flow Operating Working Capital Comments SEKm  Operating working capital as of 31 December 2 000 2015 was as follows: 16.5% 16.9% 16.6% 20%  Inventory: SEK 722m (633) 1 500  Accounts receivables: SEK 610m (607) 1 000 883 687 769  Accounts payable: SE

11. Slide 11: Full Year 2015 Performance vs. Financial Targets

    Thule Group – Full Year 2015 Performance vs. Financial Targets Constant Currency Net Sales Growth Organic Growth ≥ 5% 5.1% 5.0% 6.5% Thule Group Outdoor&Bags Specialty Underlying ≥15% EBIT Margin >17% 16.0% 2014 FY at 15.8% Net Debt / EBITDA c. 2.5x 2.3x 3.3x (YE 2014) Dividend Dividend of SEK 2.50

12. Slide 12: Focus for Q1 2016: Capture Profitable Growth and Prepare for 2016 Season

    Focus for Q1 2016: Capture Profitable Growth and Prepare for 2016 Season  Continue to Drive Profitable Organic Growth  Q1 2015 was a very strong comparable quarter in Outdoor&Bags (+9% growth vs Q1 2014)  Heavy launch program in Sport&Cargo Carriers with more product launches than ever for season

13. Slide 13: Q&A

    Q&A Slide 13

14. Slide 14: 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

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