Brief: Thule Group Q1 Operating Income Up At SEK 692 Million

Thule AB

26/04/2022 07:06

April 26 (Reuters) - Thule Group AB  THULE.ST :
    * INTERIM REPORT, FIRST QUARTER, JANUARY – MARCH 2022
    * Q1 NET SALES SEK 3,034 MILLION VERSUS SEK 2,538 MILLION
YEAR AGO
    * FIRST-QUARTER SALES GROWTH WAS 20 PERCENT (13 PERCENT
AFTER
CURRENCY ADJUSTMENT) COMPARED WITH THE EXTREMELY STRONG FIRST
QUARTER IN THE PREVIOUS YEAR
    * Q1 OPERATING INCOME SEK 692 MILLION VERSUS SEK 594 MILLION
YEAR
AGO
    * AS A CONSEQUENCE OF RUSSIA’S INVASION OF UKRAINE, WE
IMPLEMENTED
AN IMMEDIATE STOP ON SALES TO RUSSIA AND BELARUS
    * FOR NATURAL REASONS, OUR PARTNERS IN UKRAINE HAVE NOT
PURCHASED
ANY PRODUCTS SINCE THE INVASION STARTED
    * FINANCIAL IMPACT ON THE THULE GROUP IS LIMITED SINCE THESE
COUNTRIES ACCOUNT FOR LESS THAN 1 PERCENT OF OUR SALES
    * MARKETS THAT GREW MOST DURING THE QUARTER WERE GERMANY,
BELGIUM,
THE NETHERLANDS, FRANCE, THE CZECH REPUBLIC AND SPAIN
    * IN THE SOUTHERN HEMISPHERE, AUSTRALIA, NEW ZEALAND AND
SOUTH
AFRICA IN PARTICULAR CONTINUED TO PERFORM WELL AS THESE
COUNTRIES CONCLUDED THEIR IMPORTANT SUMMER SEASONS

Source text for Eikon:  ID:nMFN9TCkt9 
Further company coverage:  THULE.ST 

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