Thule Group AB (publ) (THULE) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Thank you for attending today's Thule Quadra III Interim Report. My name is Sarah, and I'll be your moderator today. Our lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. If you'd like to ask a question, press star 1 on your telephone keypad. I'd like to pass the conference over to our host, Matthias Eckenberg, CEO. Please go ahead. Thank you very much. Welcome, everybody, to this call. I am, as usual, also joined here by Toby Lawton, our CFO. We'll be speaking to the presentation, and the presentation will be available at our IR website following this call. So... Starting from the top, it's a quarter which in many ways are in line with the year that we've seen before, with the exception that profitability is improving in a better way. So good profitability in a continued tough market. Sales was up in total 13% versus last year, excluding currency effect, which is the same trend we've seen with the year so far. We do continue to see a weak market with cautious consumers and retailers. We'll speak more about that. Organic growth is down 4% in the quarter, which we, of course, are not pleased about. And currency effects continue to be significant, minus 5% in the quarter. We are actually pleased about the performance of our new product categories and our new products, which add sales in the quarter, as well as the acquired Cordlock business, which continues to add sales and growth. EBIT margin was 17.9% in the quarter, which is higher than last year and also higher than the historical averages for the quarter. We had a strong gross margin up to 47.5%. SG&A, excluding the acquired Cordlock business, decreased versus last year. We have mentioned before that we would face R&D costs and l...