Thule surges as lower costs drive Q4 profit beat

Thule AB

09/02/2024 10:03

** Shares in Thule  THULE.ST  jump 7% after the Swedish
outdoor equipment maker's Q4 EBIT beat consensus by 22% and
profit margin improved significantly amid lower costs
    ** The company posted Q4 EBIT of SEK 53 million ($5.1
million), up from SEK 4 million in the same period last year
    ** Jefferies notes a significant margin increase to 3.4%,
from 0.2% in Q4 2022, driven by positive product and channel
mix, lower material prices and freight costs
    ** The broker also points to growth in Thule's bike-related
products and direct-to-consumer sales
    ** Thule is among top performers on Europe's benchmark STOXX
600 index  .STOXX 
    ** The shares rose as much as 14.3% in early trade, touching
their highest intraday price since early September at SEK 314.60
per share

 (Reporting by Tilla Sjaavaag)
 ((tilla.sjaavaag@thomsonreuters.com; +48 58 7696600;))