Brief: Thule Prelim Q3 Sales Down At SEK 2.1 Bln

Thule AB

14/10/2022 06:47

Oct 14 (Reuters) - Thule Group AB  THULE.ST :
    * SAID ON THURSDAY SALES FOR Q3 IS ESTIMATED TO AMOUNT TO
ABOUT
SEK 2.1 BILLION (SEK 2.8 BILLION, Q3 2021)
    * Q3 OPERATING PROFIT IS ESTIMATED TO AMOUNT TO
APPROXIMATELY SEK
190 MILLION (SEK 670 MILLION, Q3 2021)
    * OPERATING PROFIT DURING Q3 HAS BEEN NEGATIVELY AFFECTED
ABOVE
ALL BY REDUCED TURNOVER OF BIKE-RELATED HIGH-MARGIN PRODUCTS
    * OPERATING PROFIT ALSO IMPACTED BY MAINTAINED LARGE
INVESTMENTS
IN COMPANY'S IMPORTANT PRODUCT DEVELOPMENT AS WELL AS COSTS FOR
PRODUCTS LAUNCHES FOR UPCOMING NEW PRODUCT CATEGORIES
    * WE STILL BELIEVE THAT IT IS TEMPORARY SLOWDOWN IN BIKE
INDUSTRY
COMPARED TO RECORD YEAR 2021 AND EXTREMELY STRONG PRE-SEASON IN
Q1 OF 2022

        
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