Thule Group AB (publ) (THULE) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you very much and welcome everybody to this Q4 call. I am as always joined by our CFO, Toby Lawton, and we'll take turns going through a presentation and then open up for Q&A. So before we get into the quarter and the details, I'd like to just take a moment to step back and look at the full year 2025. It's of course been an intense year and not an easy market but in many ways it's been a good year for Thule and let's mention a couple of highlights. Thule has never been bigger. We have recorded the highest sales number we've ever done in 2025 and profit increases versus previous year despite of course a challenging market with cautious consumers, retailers, currency headwinds and tariffs, etc. We have done the biggest upgrade of our sporting cargo carriers product portfolio in the history of Thule. And that's important because sporting cargo carriers is just over 50% of our sales. And we know that new Thule products drive growth. We are seeing fast growth in our newest product categories, dog transportation, car seats, and phone mounts. And we have had a very good first year together with the QuadLock team. We've added two new markets to Tudor.com, taking our D2C footprint to 20 markets live now. And our digital channel is now a meaningful channel to launch new products and categories, which is clear to us. We continue to push cost improvements in supply chain and in other areas, but clearly visible in supply chain through the record gross margin we've seen in 2025. We are pleased and proud to see continued strong recognition for product design. Again, winning the ADAC test for on-car seats this year with our second product and a further 17 Red Dot and IF Design Awards. And we have recently clarified and set the direction very clear going forward that we're focu...