Thule Group AB (publ) (THULE) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, all, and thank you for joining us for the Thought Group Interim Report Q2. My name is Carly, and I'll be the coordinator for today's call. If you'd like to register a question during the call, you can do so by pressing star-folded by 1 on your telephone keypad, and to remove yourself from the line of questioning, it will be star-folded by 2. At that time, it's the President and CEO, Matthias Ankerberg. The floor is yours. Thank you very much. Welcome, everybody, to today's call. I'm also, as usual, joined by Toby Lawton, our CFO. We will talk to the presentation and it is later on available on our IR website as always. So starting off with the summary on page two, this quarter is a quarter where we're growing, even though the market is still tough, growing a bit more than in Q1 and total sales in reported currency amounted to 3.4 billion. That's 16% more than last year, excluding the currency effects. We continue to see a weak market, both on the retailer and the consumer side, and particularly so in North America. On a positive note, it's not getting worse, but it is still tough, and we'll get back to that. Organic growth was a small plus, 1.5%. Europe is out four, and North America is down three, which we are, of course, not happy about, but it's a Big improvement versus the development in the first quarter, which we'll speak more about later. Quite significant currency effects in the quarter of almost 6% negative takes reported growth in Swedish kronor to 10%. And it's very clear in the quarter and also in the previous quarter that the growth is coming from new products and new product categories, including the acquired QuadLock performance mount business, which continues to do well. It is, I guess, a fun fact, but it is the biggest quarter in terms ...