Earnings miss drags Thule shares down to bottom of STOXX

Thule AB

29/04/2025 08:29

** Shares in Thule Group THULE.ST fall 11% after the Swedish maker of products for outdoor and transportation activities reported Q1 earnings below estimates

** The company's EBIT of 401 million Swedish crowns ($41.72 million), came in 10% below analysts' estimates, Jefferies says in a note

** The broker adds that an elevated cost base due to high level of products being launched drove the profitability miss

** Thule is implementing price increases to offset tariffs, it said in a press release

** The stock, on track for its worst day since February 2023, is the weakest performer on pan-European STOXX 600 .STOXX index

($1 = 9.6128 Swedish crowns)

 (Reporting by Vera Dvorakova)

 ((vera.dvorakova@thomsonreuters.com))