View ValuationThule Group 将来の成長Future 基準チェック /36Thule Group利益と収益がそれぞれ年間12.3%と5.1%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に18% 12.3%なると予測されています。主要情報12.3%収益成長率12.34%EPS成長率Leisure 収益成長15.3%収益成長率5.1%将来の株主資本利益率17.98%アナリストカバレッジGood最終更新日01 Jun 2026今後の成長に関する最新情報更新なしすべての更新を表示Recent updatesDeclared Dividend • May 20Dividend of kr4.15 announcedShareholders will receive a dividend of kr4.15. Ex-date: 2nd October 2026 Payment date: 8th October 2026 Dividend yield will be 3.6%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (78% earnings payout ratio) and cash flows (83% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Upcoming Dividend • May 05Upcoming dividend of kr4.15 per shareEligible shareholders must have bought the stock before 12 May 2026. Payment date: 19 May 2026. Payout ratio and cash payout ratio are on the higher end at 78% and 83% respectively. Trailing yield: 3.7%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (2.6%).Reported Earnings • Apr 16Full year 2025 earnings released: EPS: kr10.33 (vs kr10.59 in FY 2024)Full year 2025 results: EPS: kr10.33 (down from kr10.59 in FY 2024). Revenue: kr10.4b (up 9.3% from FY 2024). Net income: kr1.11b (flat on FY 2024). Profit margin: 11% (down from 12% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 4% per year.Recent Insider Transactions • Mar 15CEO & President recently bought kr731k worth of stockOn the 13th of March, Mattias Ankarberg bought around 4k shares on-market at roughly kr209 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Mattias' only on-market trade for the last 12 months.Recent Insider Transactions • Feb 16Independent Director recently bought kr268k worth of stockOn the 10th of February, Paul Gustavsson bought around 1k shares on-market at roughly kr248 per share. This transaction amounted to 96% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr7.5m more in shares than they have sold in the last 12 months.Recent Insider Transactions • Feb 16Independent Director recently bought kr268k worth of stockOn the 10th of February, Paul Gustavsson bought around 1k shares on-market at roughly kr248 per share. This transaction amounted to 96% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr7.5m more in shares than they have sold in the last 12 months.Recent Insider Transactions • Feb 12Independent Director recently bought kr268k worth of stockOn the 10th of February, Paul Gustavsson bought around 1k shares on-market at roughly kr248 per share. This transaction amounted to 96% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr7.5m more in shares than they have sold in the last 12 months.Declared Dividend • Feb 12Final dividend of kr4.15 announcedShareholders will receive a dividend of kr4.15. Ex-date: 12th May 2026 Payment date: 19th May 2026 Dividend yield will be 3.5%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but not covered by cash flows (114% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 43% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Feb 11Full year 2025 earnings released: EPS: kr10.33 (vs kr10.59 in FY 2024)Full year 2025 results: EPS: kr10.33 (down from kr10.59 in FY 2024). Revenue: kr10.4b (up 9.3% from FY 2024). Net income: kr1.11b (flat on FY 2024). Profit margin: 11% (down from 12% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 1% per year.Valuation Update With 7 Day Price Move • Feb 10Investor sentiment improves as stock rises 16%After last week's 16% share price gain to kr246, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 20x in the Leisure industry in Europe. Total returns to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr375 per share.お知らせ • Feb 10Thule Group AB (publ) to Report Fiscal Year 2026 Results on Feb 10, 2027Thule Group AB (publ) announced that they will report fiscal year 2026 results on Feb 10, 2027お知らせ • Dec 11+ 2 more updatesThule Group AB (publ) to Report Q2, 2026 Results on Jul 20, 2026Thule Group AB (publ) announced that they will report Q2, 2026 results on Jul 20, 2026Recent Insider Transactions • Oct 30Chief Financial Officer recently bought kr304k worth of stockOn the 27th of October, Toby Lawton bought around 1k shares on-market at roughly kr254 per share. This transaction amounted to 7.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Toby has been a buyer over the last 12 months, purchasing a net total of kr4.0m worth in shares.Reported Earnings • Oct 23Third quarter 2025 earnings released: EPS: kr2.91 (vs kr2.84 in 3Q 2024)Third quarter 2025 results: EPS: kr2.91 (up from kr2.84 in 3Q 2024). Revenue: kr2.53b (up 7.8% from 3Q 2024). Net income: kr314.0m (up 4.7% from 3Q 2024). Profit margin: 12% (in line with 3Q 2024). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.お知らせ • Oct 03Thule Group AB (publ), Annual General Meeting, May 11, 2026Thule Group AB (publ), Annual General Meeting, May 11, 2026. Location: malmo SwedenUpcoming Dividend • Sep 26Upcoming dividend of kr4.15 per shareEligible shareholders must have bought the stock before 03 October 2025. Payment date: 09 October 2025. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of British dividend payers (5.4%). Higher than average of industry peers (3.1%).Buy Or Sell Opportunity • Jul 25Now 21% undervaluedOver the last 90 days, the stock has risen 9.1% to kr285. The fair value is estimated to be kr361, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 12%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 52% in the next 2 years.Reported Earnings • Jul 16Second quarter 2025 earnings released: EPS: kr4.75 (vs kr5.29 in 2Q 2024)Second quarter 2025 results: EPS: kr4.75 (down from kr5.29 in 2Q 2024). Revenue: kr3.40b (up 9.8% from 2Q 2024). Net income: kr512.0m (down 8.4% from 2Q 2024). Profit margin: 15% (down from 18% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.Declared Dividend • May 08Dividend of kr4.15 announcedShareholders will receive a dividend of kr4.15. Ex-date: 3rd October 2025 Payment date: 9th October 2025 Dividend yield will be 3.5%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (81% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 60% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Recent Insider Transactions • May 02Chief Financial Officer recently bought kr3.7m worth of stockOn the 29th of April, Toby Lawton bought around 16k shares on-market at roughly kr227 per share. This transaction increased Toby's direct individual holding by 22x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Toby's only on-market trade for the last 12 months.お知らせ • Apr 30Thule Board Member acquired an unknown minority stake in Thule Group AB (publ) (OM:THULE) for SEK 1.04 million in a management participated transaction.Thule Board Member acquired an unknown minority stake in Thule Group AB (publ) (OM:THULE) for SEK 1.04 million in a management participated transaction on April 29, 2025. A cash consideration will be paid by the buyer. As part of consideration, an undisclosed value is paid towards common equity of Thule Group AB (publ). Post completion of the acquisition, Thule Board member now holds 7,832 Thule shares. Thule Board Member completed the acquisition of an unknown minority stake in Thule Group AB (publ) (OM:THULE) in a management participated transaction on April 29, 2025Upcoming Dividend • Apr 23Upcoming dividend of kr4.15 per shareEligible shareholders must have bought the stock before 30 April 2025. Payment date: 07 May 2025. Payout ratio is on the higher end at 78%, however this is supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of British dividend payers (6.2%). In line with average of industry peers (3.3%).Reported Earnings • Apr 08Full year 2024 earnings released: EPS: kr10.59 (vs kr10.45 in FY 2023)Full year 2024 results: EPS: kr10.59 (up from kr10.45 in FY 2023). Revenue: kr9.54b (up 4.5% from FY 2023). Net income: kr1.12b (up 2.1% from FY 2023). Profit margin: 12% (in line with FY 2023). Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.Buy Or Sell Opportunity • Mar 30Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 11% to kr300. The fair value is estimated to be kr377, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.3% over the last 3 years. Earnings per share has declined by 20%. For the next 3 years, revenue is forecast to grow by 10% per annum. Earnings are also forecast to grow by 17% per annum over the same time period.Declared Dividend • Feb 20Final dividend of kr4.15 announcedShareholders will receive a dividend of kr4.15. Ex-date: 30th April 2025 Payment date: 7th May 2025 Dividend yield will be 2.5%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (85% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 61% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Recent Insider Transactions • Feb 14Independent Director recently bought kr1.3m worth of stockOn the 11th of February, Sarah McPhee bought around 4k shares on-market at roughly kr371 per share. This transaction increased Sarah's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold kr18m more in shares than they bought in the last 12 months.お知らせ • Feb 08Thule Group AB (Publ) Proposes DividendThe Board of Thule Group AB (publ) proposed a dividend of SEK 8.30 per share.Reported Earnings • Feb 07Full year 2024 earnings released: EPS: kr10.60 (vs kr10.45 in FY 2023)Full year 2024 results: EPS: kr10.60 (up from kr10.45 in FY 2023). Revenue: kr9.54b (up 4.5% from FY 2023). Net income: kr1.12b (up 2.1% from FY 2023). Profit margin: 12% (in line with FY 2023). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 9.3% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.お知らせ • Feb 07Thule Group AB (publ) to Report Fiscal Year 2025 Results on Feb 10, 2026Thule Group AB (publ) announced that they will report fiscal year 2025 results on Feb 10, 2026お知らせ • Jan 30Thule Group AB (publ) to Report Q4, 2024 Results on Feb 07, 2025Thule Group AB (publ) announced that they will report Q4, 2024 results at 7:45 AM, Central European Standard Time on Feb 07, 2025お知らせ • Dec 06Thule Group AB (publ) (OM:THULE) completed the acquisition of Quad Lock Pty Ltd from Quadrant Private Equity Pty Limited, founders and other minority shareholders of Quad Lock Pty LtdThule Group AB (publ) (OM:THULE) agreed to acquire Quad Lock Pty Ltd from Quadrant Private Equity Pty Limited, founders and other minority shareholders of Quad Lock Pty Ltd for AUD 500 million on November 11, 2024. The consideration consists of 2.11 million common equity of Thule Group AB (publ) to be issued for common equity of Quad Lock Pty Ltd. A cash consideration will be paid by Thule Group AB (publ). The consideration is subject to possible price adjustments. For the period ending October 31, 2024, Quad Lock Pty Ltd reported total revenue of AUD 1.4 billion. The transaction will be financed through a combination of existing cash and credit facilities. The acquisition is conditional upon regulatory approval from the Australian Foreign Investment Review Board and customary closing conditions and is expected to close in the fourth quarter 2024. The acquisition is expected to be accretive. Jefferies Pty Ltd acted as financial advisor for Quadrant Private Equity Pty Limited. Goldman Sachs Bank Europe SE, Sweden Bankfilial acted as financial advisor for Thule Group AB. MinterEllison acted as legal advisor for Thule Group AB. Baker & Mckenzie acted as legal advisor for Thule Group AB. Gilbert and Tobin acted as legal advisor for Quadrant Private Equity Pty Limited. Roschier, Attorneys Ltd. acted as legal advisor for Quadrant Private Equity Pty Limited. Thule Group AB (publ) (OM:THULE) completed the acquisition of Quad Lock Pty Ltd from Quadrant Private Equity Pty Limited, founders and other minority shareholders of Quad Lock Pty Ltd on December 4, 2024.Buy Or Sell Opportunity • Nov 11Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 27% to kr363. The fair value is estimated to be kr299, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.4% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 37% in the next 2 years.Reported Earnings • Oct 23Third quarter 2024 earnings released: EPS: kr2.84 (vs kr2.48 in 3Q 2023)Third quarter 2024 results: EPS: kr2.84 (up from kr2.48 in 3Q 2023). Revenue: kr2.34b (up 1.4% from 3Q 2023). Net income: kr300.0m (up 14% from 3Q 2023). Profit margin: 13% (up from 11% in 3Q 2023). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.お知らせ • Oct 23Thule Group AB (publ) to Report Q3, 2025 Results on Oct 22, 2025Thule Group AB (publ) announced that they will report Q3, 2025 results on Oct 22, 2025お知らせ • Oct 16+ 2 more updatesThule Group AB (publ) to Report Q2, 2025 Results on Jul 15, 2025Thule Group AB (publ) announced that they will report Q2, 2025 results on Jul 15, 2025お知らせ • Oct 15+ 1 more updateThule Group AB (publ), Annual General Meeting, Apr 29, 2025Thule Group AB (publ), Annual General Meeting, Apr 29, 2025. Location: malmo SwedenUpcoming Dividend • Sep 27Upcoming dividend of kr4.75 per shareEligible shareholders must have bought the stock before 04 October 2024. Payment date: 10 October 2024. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of British dividend payers (5.4%). Lower than average of industry peers (3.8%).Reported Earnings • Jul 18Second quarter 2024 earnings released: EPS: kr5.29 (vs kr5.15 in 2Q 2023)Second quarter 2024 results: EPS: kr5.29 (up from kr5.15 in 2Q 2023). Revenue: kr3.10b (up 2.3% from 2Q 2023). Net income: kr559.0m (up 3.7% from 2Q 2023). Profit margin: 18% (in line with 2Q 2023). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.お知らせ • May 25Thule Group (Publ) Appoints Catharina Paulcén as Senior Vice President Corporate Communications and Investor RelationsThule Group (publ) appointed Catharina Paulcén as Senior Vice President Corporate Communications and Investor Relations. She will be part of Group Management, based at the Group's head office in Malmö, Sweden. Catharina has over twenty years' experience of communication and investor relations in international environments. Following graduation from Lund University in Sweden, Catharina spent over fifteen years in the software industry, and has since been responsible for communication at the publicly listed company Haldex AB, a manufacturer of automotive components, and most recently the ventilation company publicly listed ventilation company Lindab AB. Catharina also has a strong outdoor interest and is an active leader the Swedish scout organization at the local and national level. Catharina will assume her position latest November 2024.Recent Insider Transactions • May 03Insider recently sold kr1.9m worth of stockOn the 29th of April, Fredrik Erlandsson sold around 6k shares on-market at roughly kr308 per share. This transaction amounted to 6.7% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth kr2.4m. Insiders have been net sellers, collectively disposing of kr7.4m more than they bought in the last 12 months.Board Change • May 02High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Director Paul Gustavsson was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Declared Dividend • Apr 30Dividend of kr4.75 announcedShareholders will receive a dividend of kr4.75. Ex-date: 4th October 2024 Payment date: 10th October 2024 Dividend yield will be 3.1%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (89% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 19% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share is expected to grow by 51% over the next 3 years, which should maintain adequate earnings cover for the dividend.お知らせ • Apr 27+ 1 more updateThule Group AB (Publ) Announces Board AppointmentsThule Group AB (publ) at its Annual General Meeting was held on 26 April 2024, approved that Sandra Finér och Paul Gustavsson were elected as new members of the Board. At the statutory board meeting after the Annual General Meeting, the Board of Directors appointed members to the Audit and Sustainability Committee and the Remuneration Committee. The Audit and Sustainability Committee will consist of Helene Willberg (chairman) and Sarah McPhee. The Remuneration Committee will consist of Hans Eckerström (chairman) and Paul Gustavsson.Reported Earnings • Apr 26First quarter 2024 earnings released: EPS: kr2.84 (vs kr2.63 in 1Q 2023)First quarter 2024 results: EPS: kr2.84 (up from kr2.63 in 1Q 2023). Revenue: kr2.42b (up 8.7% from 1Q 2023). Net income: kr300.0m (up 9.1% from 1Q 2023). Profit margin: 12% (in line with 1Q 2023). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Apr 22Upcoming dividend of kr4.75 per shareEligible shareholders must have bought the stock before 29 April 2024. Payment date: 06 May 2024. Payout ratio is on the higher end at 91%, however this is supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of British dividend payers (6.0%). In line with average of industry peers (3.5%).Reported Earnings • Apr 07Full year 2023 earnings released: EPS: kr10.45 (vs kr12.19 in FY 2022)Full year 2023 results: EPS: kr10.45 (down from kr12.19 in FY 2022). Revenue: kr9.13b (down 9.9% from FY 2022). Net income: kr1.10b (down 14% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.Recent Insider Transactions • Mar 21Insider recently sold kr2.4m worth of stockOn the 18th of March, Fredrik Erlandsson sold around 8k shares on-market at roughly kr300 per share. This transaction amounted to 7.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr3.1m more than they bought in the last 12 months.お知らせ • Feb 28Thule Group AB (publ) to Report Fiscal Year 2023 Final Results on Apr 05, 2024Thule Group AB (publ) announced that they will report fiscal year 2023 final results at 9:00 AM, Central European Standard Time on Apr 05, 2024Declared Dividend • Feb 16Final dividend of kr4.75 announcedShareholders will receive a dividend of kr4.75. Ex-date: 29th April 2024 Payment date: 6th May 2024 Dividend yield will be 3.2%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio). However, it is covered by cash flows (63% cash payout ratio). The dividend has increased by an average of 19% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 1.0% to bring the payout ratio under control. EPS is expected to grow by 49% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.Reported Earnings • Feb 11Full year 2023 earnings released: EPS: kr10.45 (vs kr12.19 in FY 2022)Full year 2023 results: EPS: kr10.45 (down from kr12.19 in FY 2022). Revenue: kr9.13b (down 9.9% from FY 2022). Net income: kr1.10b (down 14% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.お知らせ • Feb 09Thule Group AB (publ) Proposes DividendThe Board of Directors of Thule Group AB (publ) proposed a dividend of SEK 9.50 per share which, based on the number of shares outstanding on February 9, 2024, corresponds to a dividend of SEK 1,004 million. The proposed dividend comprises 91% of the earnings per share for 2023. It is also proposed that dividends be paid in two installments for a better adaptation to the Group's cash flow profile. The proposed record date for the first dividend payment of SEK 4.75 per share is April 30, 2024 and the proposed record date for the second payment of SEK 4.75 per share is October 7, 2024.Buying Opportunity • Nov 30Now 25% undervalued after recent price dropOver the last 90 days, the stock is down 18%. The fair value is estimated to be kr342, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Earnings per share has declined by 7.2%. Revenue is forecast to grow by 13% in 2 years. Earnings is forecast to grow by 45% in the next 2 years.Recent Insider Transactions • Nov 04Insider recently sold kr3.7m worth of stockOn the 1st of November, Kajsa von Geijer sold around 15k shares on-market at roughly kr252 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr801k more than they bought in the last 12 months.お知らせ • Oct 31+ 1 more updateThule Group AB (publ) to Report Q2, 2024 Results on Jul 17, 2024Thule Group AB (publ) announced that they will report Q2, 2024 results on Jul 17, 2024Reported Earnings • Oct 28Third quarter 2023 earnings released: EPS: kr2.48 (vs kr1.31 in 3Q 2022)Third quarter 2023 results: EPS: kr2.48 (up from kr1.31 in 3Q 2022). Revenue: kr2.31b (up 8.0% from 3Q 2022). Net income: kr262.0m (up 91% from 3Q 2022). Profit margin: 11% (up from 6.4% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year and the company’s share price has also fallen by 7% per year.お知らせ • Oct 27Thule Group AB (publ) to Report Q1, 2024 Results on Apr 26, 2024Thule Group AB (publ) announced that they will report Q1, 2024 results on Apr 26, 2024Upcoming Dividend • Sep 27Upcoming dividend of kr4.60 per share at 3.4% yieldEligible shareholders must have bought the stock before 04 October 2023. Payment date: 10 October 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.4%. Lower than top quartile of British dividend payers (6.3%). In line with average of industry peers (3.1%).Buying Opportunity • Sep 26Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 12%. The fair value is estimated to be kr340, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 2.7%. Revenue is forecast to grow by 19% in 2 years. Earnings is forecast to grow by 77% in the next 2 years.お知らせ • Sep 26+ 1 more updateThule Group AB (publ), Annual General Meeting, Apr 26, 2024Thule Group AB (publ), Annual General Meeting, Apr 26, 2024.Recent Insider Transactions • Aug 20CEO, President & Director recently bought kr2.9m worth of stockOn the 15th of August, Mattias Ankarberg bought around 9k shares on-market at roughly kr336 per share. This transaction increased Mattias' direct individual holding by 6x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Mattias' only on-market trade for the last 12 months.Reported Earnings • Jul 20Second quarter 2023 earnings released: EPS: kr5.15 (vs kr5.99 in 2Q 2022)Second quarter 2023 results: EPS: kr5.15 (down from kr5.99 in 2Q 2022). Revenue: kr3.03b (down 8.6% from 2Q 2022). Net income: kr539.0m (down 14% from 2Q 2022). Profit margin: 18% (down from 19% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 7% per year.お知らせ • Jul 17Thule Group AB (Publ) Appoints Toby Lawton as Chief Financial Officer, Effective January 2024Toby Lawton has been appointed Chief Financial Officer, CFO, and member of Group Management in Thule Group, based out of the Group Headquarters in Malmö, Sweden. Toby Lawton brings almost three decades of relevant international finance experience, including as CFO of three publicly listed international companies in Sweden and Hong Kong. Following graduation from Oxford University, Toby spent over 25 years with SCA (including now separately listed Essity) in several roles including CFO of Asia Pacific, Vice President of M&A, and CFO of SCA. He has also been CFO of Vinda International, based in Hong Kong, and is currently CFO of Swedish company Renewcell. Toby Lawton will assume his position latest in January 2024.お知らせ • May 13Jonas Lindqvist to Leave as Chief Financial Officer of Thule Group AB (publ)Thule Group AB (publ) announced that Jonas Lindqvist, in agreement with the company, will leave his position as Chief Financial Officer (CFO) at the company. Jonas has been the CFO of the Thule Group since 2020 and will remain in his role until his successor is in place. The recruitment process for a new CFO will begin immediately.Upcoming Dividend • Apr 21Upcoming dividend of kr4.60 per share at 3.4% yieldEligible shareholders must have bought the stock before 28 April 2023. Payment date: 05 May 2023. Payout ratio is on the higher end at 75%, and the cash payout ratio is above 100%. Trailing yield: 3.4%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (2.5%).Reported Earnings • Apr 06Full year 2022 earnings releasedFull year 2022 results: Revenue: kr10.1b (down 2.4% from FY 2021). Net income: kr1.28b (down 29% from FY 2021). Profit margin: 13% (down from 17% in FY 2021). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Mar 31Investor sentiment improves as stock rises 17%After last week's 17% share price gain to kr257, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 17x in the Leisure industry in Europe. Total returns to shareholders of 87% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr244 per share.Reported Earnings • Feb 12Full year 2022 earnings released: EPS: kr12.19 (vs kr17.12 in FY 2021)Full year 2022 results: EPS: kr12.19 (down from kr17.12 in FY 2021). Revenue: kr10.1b (down 2.4% from FY 2021). Net income: kr1.28b (down 29% from FY 2021). Profit margin: 13% (down from 17% in FY 2021). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.お知らせ • Feb 11Thule Group AB (publ) Proposes DividendThe Board of Directors of Thule Group AB (publ) proposed a dividend of SEK 9.20 per share which, based on the number of shares outstanding on February 10, 2023, corresponds to SEK 962 million. The proposed dividend comprises 75% of the earnings per share for 2022. It is also proposed that dividends be paid in two installments for a better adaptation to the Group's cash flow profile. The proposed record date for the first dividend payment of SEK 4.60 per share is May 2, 2023 and the proposed record date for the second payment of SEK 4.60 per share is October 5, 2023.Valuation Update With 7 Day Price Move • Feb 10Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to kr224, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 16x in the Leisure industry in Europe. Total returns to shareholders of 7.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr243 per share.お知らせ • Feb 10+ 1 more updateThule Group AB (publ) Announces Executive Changes, Effective No Later Than August 9, 2023Thule Group AB (publ) announced that its board of directors has decided to appoint Mattias Ankarberg as the new president of the company. To secure a seamless handover, Magnus Welander will remain in his role until Mattias Ankarberg has finished his current role. Mattias Ankarberg has over 20 years of experience in consumer goods, from McKinsey & Company (located in Sweden and the USA), H&M (several senior positions, most recently as Global Sales and Marketing Manager) and now as CEO of Byggmax Group (publ). Mattias has been a member of the board of the Thule Group since 2018. He will take over as president of Thule no later than August 9, 2023.Board Change • Feb 01Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. Director Sarah McPhee was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.お知らせ • Jan 11Thule Group AB (publ) to Report Fiscal Year 2022 Results on Mar 31, 2023Thule Group AB (publ) announced that they will report fiscal year 2022 results on Mar 31, 2023Buying Opportunity • Dec 31Now 21% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be kr276, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 28%. Revenue is forecast to decline by 9.2% in 2 years. Earnings is forecast to decline by 13% in the next 2 years.Valuation Update With 7 Day Price Move • Nov 11Investor sentiment improved over the past weekAfter last week's 18% share price gain to kr260, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 14x in the Leisure industry in Europe. Total returns to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr281 per share.お知らせ • Nov 09+ 1 more updateThule Group AB (publ) to Report Q3, 2023 Results on Oct 27, 2023Thule Group AB (publ) announced that they will report Q3, 2023 results on Oct 27, 2023お知らせ • Nov 08Thule Group AB (publ) to Report Q2, 2023 Results on Jul 19, 2023Thule Group AB (publ) announced that they will report Q2, 2023 results on Jul 19, 2023Reported Earnings • Oct 27Third quarter 2022 earnings released: EPS: kr1.31 (vs kr4.93 in 3Q 2021)Third quarter 2022 results: EPS: kr1.31 (down from kr4.93 in 3Q 2021). Revenue: kr2.14b (down 23% from 3Q 2021). Net income: kr137.0m (down 73% from 3Q 2021). Profit margin: 6.4% (down from 19% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 2.2% p.a. on average during the next 3 years, while revenues in the Leisure industry in Europe are expected to grow by 6.9%. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Sep 28Upcoming dividend of kr6.50 per shareEligible shareholders must have bought the stock before 05 October 2022. Payment date: 11 October 2022. Payout ratio is a comfortable 75% but the company is not cash flow positive. Trailing yield: 5.8%. Lower than top quartile of British dividend payers (6.1%). Higher than average of industry peers (3.4%).Reported Earnings • Jul 22Second quarter 2022 earnings released: EPS: kr5.99 (vs kr6.42 in 2Q 2021)Second quarter 2022 results: EPS: kr5.99 (down from kr6.42 in 2Q 2021). Revenue: kr3.31b (up 2.6% from 2Q 2021). Net income: kr626.0m (down 6.8% from 2Q 2021). Profit margin: 19% (down from 21% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 2.2%, compared to a 13% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Recent Insider Transactions • May 21Independent Director recently bought kr4.9m worth of stockOn the 17th of May, Hans Eckerstrom bought around 15k shares on-market at roughly kr329 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold kr4.4m more in shares than they bought in the last 12 months.Reported Earnings • Apr 27First quarter 2022 earnings released: EPS: kr5.04 (vs kr4.27 in 1Q 2021)First quarter 2022 results: EPS: kr5.04 (up from kr4.27 in 1Q 2021). Revenue: kr3.03b (up 20% from 1Q 2021). Net income: kr527.0m (up 18% from 1Q 2021). Profit margin: 17% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 7.4%, compared to a 16% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Apr 20Upcoming dividend of kr6.50 per shareEligible shareholders must have bought the stock before 27 April 2022. Payment date: 03 May 2022. Payout ratio is on the higher end at 76%, and the cash payout ratio is above 100%. Trailing yield: 3.6%. Lower than top quartile of British dividend payers (4.6%). Higher than average of industry peers (2.4%).Reported Earnings • Apr 08Full year 2021 earnings released: EPS: kr17.12 (vs kr11.24 in FY 2020)Full year 2021 results: EPS: kr17.12 (up from kr11.24 in FY 2020). Revenue: kr10.4b (up 33% from FY 2020). Net income: kr1.79b (up 54% from FY 2020). Profit margin: 17% (up from 15% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 11%, compared to a 16% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.Buying Opportunity • Apr 01Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 33%. The fair value is estimated to be kr468, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 30%. For the next 3 years, revenue is forecast to grow by 5.8% per annum. Earnings is also forecast to grow by 6.5% per annum over the same time period.Buying Opportunity • Mar 15Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 26%. The fair value is estimated to be kr474, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% per annum over the last 3 years. Earnings per share has grown by 30% per annum over the last 3 years.Buying Opportunity • Feb 24Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 30%. The fair value is estimated to be kr459, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% per annum over the last 3 years. Earnings per share has grown by 30% per annum over the last 3 years.Recent Insider Transactions • Feb 22Independent Director recently bought kr200k worth of stockOn the 16th of February, Helene Mellquist bought around 490 shares on-market at roughly kr409 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold kr9.4m more in shares than they bought in the last 12 months.Reported Earnings • Feb 10Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: kr17.11 (up from kr11.24 in FY 2020). Revenue: kr10.4b (up 33% from FY 2020). Net income: kr1.79b (up 54% from FY 2020). Profit margin: 17% (up from 15% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 13%, compared to a 15% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 29% per year.業績と収益の成長予測LSE:0R3W - アナリストの将来予測と過去の財務データ ( )SEK Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/202811,8321,6051,4891,800812/31/202711,1731,4301,3591,661812/31/202610,5351,2701,3151,70483/31/202610,3401,1411,0841,491N/A12/31/202510,4291,1147841,132N/A9/30/202510,2721,0551,1451,464N/A6/30/202510,0871,0421,5381,751N/A3/31/20259,7831,0881,6151,887N/A12/31/20249,5411,1222,0462,310N/A9/30/20249,4291,1831,9312,199N/A6/30/20249,3961,1441,7892,082N/A3/31/20249,3261,1241,6961,920N/A12/31/20239,1321,0991,5991,850N/A9/30/20239,2171,0591,4521,685N/A6/30/20239,0459351,1001,390N/A3/31/20239,3301,0238061,161N/A12/31/202210,1381,275172616N/A9/30/202210,3331,445-373161N/A6/30/202210,9661,824-378152N/A3/31/202210,8821,870-69530N/A12/31/202110,3861,7906211,128N/A9/30/202110,1451,8001,3851,792N/A6/30/20219,8091,7321,6952,022N/A3/31/20218,6221,3721,4991,678N/A12/31/20207,8281,1661,4411,614N/A9/30/20207,4341,0311,2951,469N/A6/30/20206,6807631,1001,276N/A3/31/20206,9488711,0071,183N/A12/31/20197,038883N/A1,030N/A9/30/20196,984897N/A872N/A6/30/20196,863905N/A799N/A3/31/20196,707870N/A675N/A12/31/20186,484837N/A606N/A9/30/20186,333754N/A799N/A6/30/20186,157750N/A820N/A3/31/20185,957713N/A930N/A12/31/20175,872690N/A972N/A9/30/20175,849760N/A854N/A6/30/20175,759732N/A772N/A3/31/20175,529687N/A737N/A12/31/20165,304653N/A878N/A9/30/20165,300645N/A940N/A6/30/20165,349636N/A915N/A3/31/20165,312611N/A782N/A12/31/20155,320587N/A662N/A9/30/20155,241463N/A432N/A6/30/20155,079396N/A407N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: 0R3Wの予測収益成長率 (年間12.3% ) は 貯蓄率 ( 3.4% ) を上回っています。収益対市場: 0R3Wの収益 ( 12.3% ) はUK市場 ( 11.5% ) よりも速いペースで成長すると予測されています。高成長収益: 0R3Wの収益は増加すると予測されていますが、大幅には増加しません。収益対市場: 0R3Wの収益 ( 5.1% ) UK市場 ( 4.5% ) よりも速いペースで成長すると予測されています。高い収益成長: 0R3Wの収益 ( 5.1% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: 0R3Wの 自己資本利益率 は、3年後には低くなると予測されています ( 18 %)。成長企業の発掘7D1Y7D1Y7D1YConsumer-durables 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/06/09 06:07終値2026/06/09 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Thule Group AB (publ) 8 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。15 アナリスト機関null nullABG Sundal CollierLars TopholmCarnegie Investment Bank ABDaniel SchmidtDanske Bank12 その他のアナリストを表示
Declared Dividend • May 20Dividend of kr4.15 announcedShareholders will receive a dividend of kr4.15. Ex-date: 2nd October 2026 Payment date: 8th October 2026 Dividend yield will be 3.6%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (78% earnings payout ratio) and cash flows (83% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Upcoming Dividend • May 05Upcoming dividend of kr4.15 per shareEligible shareholders must have bought the stock before 12 May 2026. Payment date: 19 May 2026. Payout ratio and cash payout ratio are on the higher end at 78% and 83% respectively. Trailing yield: 3.7%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (2.6%).
Reported Earnings • Apr 16Full year 2025 earnings released: EPS: kr10.33 (vs kr10.59 in FY 2024)Full year 2025 results: EPS: kr10.33 (down from kr10.59 in FY 2024). Revenue: kr10.4b (up 9.3% from FY 2024). Net income: kr1.11b (flat on FY 2024). Profit margin: 11% (down from 12% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 4% per year.
Recent Insider Transactions • Mar 15CEO & President recently bought kr731k worth of stockOn the 13th of March, Mattias Ankarberg bought around 4k shares on-market at roughly kr209 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Mattias' only on-market trade for the last 12 months.
Recent Insider Transactions • Feb 16Independent Director recently bought kr268k worth of stockOn the 10th of February, Paul Gustavsson bought around 1k shares on-market at roughly kr248 per share. This transaction amounted to 96% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr7.5m more in shares than they have sold in the last 12 months.
Recent Insider Transactions • Feb 16Independent Director recently bought kr268k worth of stockOn the 10th of February, Paul Gustavsson bought around 1k shares on-market at roughly kr248 per share. This transaction amounted to 96% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr7.5m more in shares than they have sold in the last 12 months.
Recent Insider Transactions • Feb 12Independent Director recently bought kr268k worth of stockOn the 10th of February, Paul Gustavsson bought around 1k shares on-market at roughly kr248 per share. This transaction amounted to 96% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr7.5m more in shares than they have sold in the last 12 months.
Declared Dividend • Feb 12Final dividend of kr4.15 announcedShareholders will receive a dividend of kr4.15. Ex-date: 12th May 2026 Payment date: 19th May 2026 Dividend yield will be 3.5%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but not covered by cash flows (114% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 43% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Feb 11Full year 2025 earnings released: EPS: kr10.33 (vs kr10.59 in FY 2024)Full year 2025 results: EPS: kr10.33 (down from kr10.59 in FY 2024). Revenue: kr10.4b (up 9.3% from FY 2024). Net income: kr1.11b (flat on FY 2024). Profit margin: 11% (down from 12% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 1% per year.
Valuation Update With 7 Day Price Move • Feb 10Investor sentiment improves as stock rises 16%After last week's 16% share price gain to kr246, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 20x in the Leisure industry in Europe. Total returns to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr375 per share.
お知らせ • Feb 10Thule Group AB (publ) to Report Fiscal Year 2026 Results on Feb 10, 2027Thule Group AB (publ) announced that they will report fiscal year 2026 results on Feb 10, 2027
お知らせ • Dec 11+ 2 more updatesThule Group AB (publ) to Report Q2, 2026 Results on Jul 20, 2026Thule Group AB (publ) announced that they will report Q2, 2026 results on Jul 20, 2026
Recent Insider Transactions • Oct 30Chief Financial Officer recently bought kr304k worth of stockOn the 27th of October, Toby Lawton bought around 1k shares on-market at roughly kr254 per share. This transaction amounted to 7.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Toby has been a buyer over the last 12 months, purchasing a net total of kr4.0m worth in shares.
Reported Earnings • Oct 23Third quarter 2025 earnings released: EPS: kr2.91 (vs kr2.84 in 3Q 2024)Third quarter 2025 results: EPS: kr2.91 (up from kr2.84 in 3Q 2024). Revenue: kr2.53b (up 7.8% from 3Q 2024). Net income: kr314.0m (up 4.7% from 3Q 2024). Profit margin: 12% (in line with 3Q 2024). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.
お知らせ • Oct 03Thule Group AB (publ), Annual General Meeting, May 11, 2026Thule Group AB (publ), Annual General Meeting, May 11, 2026. Location: malmo Sweden
Upcoming Dividend • Sep 26Upcoming dividend of kr4.15 per shareEligible shareholders must have bought the stock before 03 October 2025. Payment date: 09 October 2025. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of British dividend payers (5.4%). Higher than average of industry peers (3.1%).
Buy Or Sell Opportunity • Jul 25Now 21% undervaluedOver the last 90 days, the stock has risen 9.1% to kr285. The fair value is estimated to be kr361, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 12%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 52% in the next 2 years.
Reported Earnings • Jul 16Second quarter 2025 earnings released: EPS: kr4.75 (vs kr5.29 in 2Q 2024)Second quarter 2025 results: EPS: kr4.75 (down from kr5.29 in 2Q 2024). Revenue: kr3.40b (up 9.8% from 2Q 2024). Net income: kr512.0m (down 8.4% from 2Q 2024). Profit margin: 15% (down from 18% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
Declared Dividend • May 08Dividend of kr4.15 announcedShareholders will receive a dividend of kr4.15. Ex-date: 3rd October 2025 Payment date: 9th October 2025 Dividend yield will be 3.5%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (81% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 60% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Recent Insider Transactions • May 02Chief Financial Officer recently bought kr3.7m worth of stockOn the 29th of April, Toby Lawton bought around 16k shares on-market at roughly kr227 per share. This transaction increased Toby's direct individual holding by 22x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Toby's only on-market trade for the last 12 months.
お知らせ • Apr 30Thule Board Member acquired an unknown minority stake in Thule Group AB (publ) (OM:THULE) for SEK 1.04 million in a management participated transaction.Thule Board Member acquired an unknown minority stake in Thule Group AB (publ) (OM:THULE) for SEK 1.04 million in a management participated transaction on April 29, 2025. A cash consideration will be paid by the buyer. As part of consideration, an undisclosed value is paid towards common equity of Thule Group AB (publ). Post completion of the acquisition, Thule Board member now holds 7,832 Thule shares. Thule Board Member completed the acquisition of an unknown minority stake in Thule Group AB (publ) (OM:THULE) in a management participated transaction on April 29, 2025
Upcoming Dividend • Apr 23Upcoming dividend of kr4.15 per shareEligible shareholders must have bought the stock before 30 April 2025. Payment date: 07 May 2025. Payout ratio is on the higher end at 78%, however this is supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of British dividend payers (6.2%). In line with average of industry peers (3.3%).
Reported Earnings • Apr 08Full year 2024 earnings released: EPS: kr10.59 (vs kr10.45 in FY 2023)Full year 2024 results: EPS: kr10.59 (up from kr10.45 in FY 2023). Revenue: kr9.54b (up 4.5% from FY 2023). Net income: kr1.12b (up 2.1% from FY 2023). Profit margin: 12% (in line with FY 2023). Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
Buy Or Sell Opportunity • Mar 30Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 11% to kr300. The fair value is estimated to be kr377, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.3% over the last 3 years. Earnings per share has declined by 20%. For the next 3 years, revenue is forecast to grow by 10% per annum. Earnings are also forecast to grow by 17% per annum over the same time period.
Declared Dividend • Feb 20Final dividend of kr4.15 announcedShareholders will receive a dividend of kr4.15. Ex-date: 30th April 2025 Payment date: 7th May 2025 Dividend yield will be 2.5%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (85% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 61% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Recent Insider Transactions • Feb 14Independent Director recently bought kr1.3m worth of stockOn the 11th of February, Sarah McPhee bought around 4k shares on-market at roughly kr371 per share. This transaction increased Sarah's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold kr18m more in shares than they bought in the last 12 months.
お知らせ • Feb 08Thule Group AB (Publ) Proposes DividendThe Board of Thule Group AB (publ) proposed a dividend of SEK 8.30 per share.
Reported Earnings • Feb 07Full year 2024 earnings released: EPS: kr10.60 (vs kr10.45 in FY 2023)Full year 2024 results: EPS: kr10.60 (up from kr10.45 in FY 2023). Revenue: kr9.54b (up 4.5% from FY 2023). Net income: kr1.12b (up 2.1% from FY 2023). Profit margin: 12% (in line with FY 2023). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 9.3% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
お知らせ • Feb 07Thule Group AB (publ) to Report Fiscal Year 2025 Results on Feb 10, 2026Thule Group AB (publ) announced that they will report fiscal year 2025 results on Feb 10, 2026
お知らせ • Jan 30Thule Group AB (publ) to Report Q4, 2024 Results on Feb 07, 2025Thule Group AB (publ) announced that they will report Q4, 2024 results at 7:45 AM, Central European Standard Time on Feb 07, 2025
お知らせ • Dec 06Thule Group AB (publ) (OM:THULE) completed the acquisition of Quad Lock Pty Ltd from Quadrant Private Equity Pty Limited, founders and other minority shareholders of Quad Lock Pty LtdThule Group AB (publ) (OM:THULE) agreed to acquire Quad Lock Pty Ltd from Quadrant Private Equity Pty Limited, founders and other minority shareholders of Quad Lock Pty Ltd for AUD 500 million on November 11, 2024. The consideration consists of 2.11 million common equity of Thule Group AB (publ) to be issued for common equity of Quad Lock Pty Ltd. A cash consideration will be paid by Thule Group AB (publ). The consideration is subject to possible price adjustments. For the period ending October 31, 2024, Quad Lock Pty Ltd reported total revenue of AUD 1.4 billion. The transaction will be financed through a combination of existing cash and credit facilities. The acquisition is conditional upon regulatory approval from the Australian Foreign Investment Review Board and customary closing conditions and is expected to close in the fourth quarter 2024. The acquisition is expected to be accretive. Jefferies Pty Ltd acted as financial advisor for Quadrant Private Equity Pty Limited. Goldman Sachs Bank Europe SE, Sweden Bankfilial acted as financial advisor for Thule Group AB. MinterEllison acted as legal advisor for Thule Group AB. Baker & Mckenzie acted as legal advisor for Thule Group AB. Gilbert and Tobin acted as legal advisor for Quadrant Private Equity Pty Limited. Roschier, Attorneys Ltd. acted as legal advisor for Quadrant Private Equity Pty Limited. Thule Group AB (publ) (OM:THULE) completed the acquisition of Quad Lock Pty Ltd from Quadrant Private Equity Pty Limited, founders and other minority shareholders of Quad Lock Pty Ltd on December 4, 2024.
Buy Or Sell Opportunity • Nov 11Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 27% to kr363. The fair value is estimated to be kr299, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.4% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 37% in the next 2 years.
Reported Earnings • Oct 23Third quarter 2024 earnings released: EPS: kr2.84 (vs kr2.48 in 3Q 2023)Third quarter 2024 results: EPS: kr2.84 (up from kr2.48 in 3Q 2023). Revenue: kr2.34b (up 1.4% from 3Q 2023). Net income: kr300.0m (up 14% from 3Q 2023). Profit margin: 13% (up from 11% in 3Q 2023). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.
お知らせ • Oct 23Thule Group AB (publ) to Report Q3, 2025 Results on Oct 22, 2025Thule Group AB (publ) announced that they will report Q3, 2025 results on Oct 22, 2025
お知らせ • Oct 16+ 2 more updatesThule Group AB (publ) to Report Q2, 2025 Results on Jul 15, 2025Thule Group AB (publ) announced that they will report Q2, 2025 results on Jul 15, 2025
お知らせ • Oct 15+ 1 more updateThule Group AB (publ), Annual General Meeting, Apr 29, 2025Thule Group AB (publ), Annual General Meeting, Apr 29, 2025. Location: malmo Sweden
Upcoming Dividend • Sep 27Upcoming dividend of kr4.75 per shareEligible shareholders must have bought the stock before 04 October 2024. Payment date: 10 October 2024. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of British dividend payers (5.4%). Lower than average of industry peers (3.8%).
Reported Earnings • Jul 18Second quarter 2024 earnings released: EPS: kr5.29 (vs kr5.15 in 2Q 2023)Second quarter 2024 results: EPS: kr5.29 (up from kr5.15 in 2Q 2023). Revenue: kr3.10b (up 2.3% from 2Q 2023). Net income: kr559.0m (up 3.7% from 2Q 2023). Profit margin: 18% (in line with 2Q 2023). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.
お知らせ • May 25Thule Group (Publ) Appoints Catharina Paulcén as Senior Vice President Corporate Communications and Investor RelationsThule Group (publ) appointed Catharina Paulcén as Senior Vice President Corporate Communications and Investor Relations. She will be part of Group Management, based at the Group's head office in Malmö, Sweden. Catharina has over twenty years' experience of communication and investor relations in international environments. Following graduation from Lund University in Sweden, Catharina spent over fifteen years in the software industry, and has since been responsible for communication at the publicly listed company Haldex AB, a manufacturer of automotive components, and most recently the ventilation company publicly listed ventilation company Lindab AB. Catharina also has a strong outdoor interest and is an active leader the Swedish scout organization at the local and national level. Catharina will assume her position latest November 2024.
Recent Insider Transactions • May 03Insider recently sold kr1.9m worth of stockOn the 29th of April, Fredrik Erlandsson sold around 6k shares on-market at roughly kr308 per share. This transaction amounted to 6.7% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth kr2.4m. Insiders have been net sellers, collectively disposing of kr7.4m more than they bought in the last 12 months.
Board Change • May 02High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Director Paul Gustavsson was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Declared Dividend • Apr 30Dividend of kr4.75 announcedShareholders will receive a dividend of kr4.75. Ex-date: 4th October 2024 Payment date: 10th October 2024 Dividend yield will be 3.1%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (89% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 19% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share is expected to grow by 51% over the next 3 years, which should maintain adequate earnings cover for the dividend.
お知らせ • Apr 27+ 1 more updateThule Group AB (Publ) Announces Board AppointmentsThule Group AB (publ) at its Annual General Meeting was held on 26 April 2024, approved that Sandra Finér och Paul Gustavsson were elected as new members of the Board. At the statutory board meeting after the Annual General Meeting, the Board of Directors appointed members to the Audit and Sustainability Committee and the Remuneration Committee. The Audit and Sustainability Committee will consist of Helene Willberg (chairman) and Sarah McPhee. The Remuneration Committee will consist of Hans Eckerström (chairman) and Paul Gustavsson.
Reported Earnings • Apr 26First quarter 2024 earnings released: EPS: kr2.84 (vs kr2.63 in 1Q 2023)First quarter 2024 results: EPS: kr2.84 (up from kr2.63 in 1Q 2023). Revenue: kr2.42b (up 8.7% from 1Q 2023). Net income: kr300.0m (up 9.1% from 1Q 2023). Profit margin: 12% (in line with 1Q 2023). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Apr 22Upcoming dividend of kr4.75 per shareEligible shareholders must have bought the stock before 29 April 2024. Payment date: 06 May 2024. Payout ratio is on the higher end at 91%, however this is supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of British dividend payers (6.0%). In line with average of industry peers (3.5%).
Reported Earnings • Apr 07Full year 2023 earnings released: EPS: kr10.45 (vs kr12.19 in FY 2022)Full year 2023 results: EPS: kr10.45 (down from kr12.19 in FY 2022). Revenue: kr9.13b (down 9.9% from FY 2022). Net income: kr1.10b (down 14% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
Recent Insider Transactions • Mar 21Insider recently sold kr2.4m worth of stockOn the 18th of March, Fredrik Erlandsson sold around 8k shares on-market at roughly kr300 per share. This transaction amounted to 7.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr3.1m more than they bought in the last 12 months.
お知らせ • Feb 28Thule Group AB (publ) to Report Fiscal Year 2023 Final Results on Apr 05, 2024Thule Group AB (publ) announced that they will report fiscal year 2023 final results at 9:00 AM, Central European Standard Time on Apr 05, 2024
Declared Dividend • Feb 16Final dividend of kr4.75 announcedShareholders will receive a dividend of kr4.75. Ex-date: 29th April 2024 Payment date: 6th May 2024 Dividend yield will be 3.2%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio). However, it is covered by cash flows (63% cash payout ratio). The dividend has increased by an average of 19% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 1.0% to bring the payout ratio under control. EPS is expected to grow by 49% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.
Reported Earnings • Feb 11Full year 2023 earnings released: EPS: kr10.45 (vs kr12.19 in FY 2022)Full year 2023 results: EPS: kr10.45 (down from kr12.19 in FY 2022). Revenue: kr9.13b (down 9.9% from FY 2022). Net income: kr1.10b (down 14% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.
お知らせ • Feb 09Thule Group AB (publ) Proposes DividendThe Board of Directors of Thule Group AB (publ) proposed a dividend of SEK 9.50 per share which, based on the number of shares outstanding on February 9, 2024, corresponds to a dividend of SEK 1,004 million. The proposed dividend comprises 91% of the earnings per share for 2023. It is also proposed that dividends be paid in two installments for a better adaptation to the Group's cash flow profile. The proposed record date for the first dividend payment of SEK 4.75 per share is April 30, 2024 and the proposed record date for the second payment of SEK 4.75 per share is October 7, 2024.
Buying Opportunity • Nov 30Now 25% undervalued after recent price dropOver the last 90 days, the stock is down 18%. The fair value is estimated to be kr342, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Earnings per share has declined by 7.2%. Revenue is forecast to grow by 13% in 2 years. Earnings is forecast to grow by 45% in the next 2 years.
Recent Insider Transactions • Nov 04Insider recently sold kr3.7m worth of stockOn the 1st of November, Kajsa von Geijer sold around 15k shares on-market at roughly kr252 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr801k more than they bought in the last 12 months.
お知らせ • Oct 31+ 1 more updateThule Group AB (publ) to Report Q2, 2024 Results on Jul 17, 2024Thule Group AB (publ) announced that they will report Q2, 2024 results on Jul 17, 2024
Reported Earnings • Oct 28Third quarter 2023 earnings released: EPS: kr2.48 (vs kr1.31 in 3Q 2022)Third quarter 2023 results: EPS: kr2.48 (up from kr1.31 in 3Q 2022). Revenue: kr2.31b (up 8.0% from 3Q 2022). Net income: kr262.0m (up 91% from 3Q 2022). Profit margin: 11% (up from 6.4% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year and the company’s share price has also fallen by 7% per year.
お知らせ • Oct 27Thule Group AB (publ) to Report Q1, 2024 Results on Apr 26, 2024Thule Group AB (publ) announced that they will report Q1, 2024 results on Apr 26, 2024
Upcoming Dividend • Sep 27Upcoming dividend of kr4.60 per share at 3.4% yieldEligible shareholders must have bought the stock before 04 October 2023. Payment date: 10 October 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.4%. Lower than top quartile of British dividend payers (6.3%). In line with average of industry peers (3.1%).
Buying Opportunity • Sep 26Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 12%. The fair value is estimated to be kr340, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 2.7%. Revenue is forecast to grow by 19% in 2 years. Earnings is forecast to grow by 77% in the next 2 years.
お知らせ • Sep 26+ 1 more updateThule Group AB (publ), Annual General Meeting, Apr 26, 2024Thule Group AB (publ), Annual General Meeting, Apr 26, 2024.
Recent Insider Transactions • Aug 20CEO, President & Director recently bought kr2.9m worth of stockOn the 15th of August, Mattias Ankarberg bought around 9k shares on-market at roughly kr336 per share. This transaction increased Mattias' direct individual holding by 6x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Mattias' only on-market trade for the last 12 months.
Reported Earnings • Jul 20Second quarter 2023 earnings released: EPS: kr5.15 (vs kr5.99 in 2Q 2022)Second quarter 2023 results: EPS: kr5.15 (down from kr5.99 in 2Q 2022). Revenue: kr3.03b (down 8.6% from 2Q 2022). Net income: kr539.0m (down 14% from 2Q 2022). Profit margin: 18% (down from 19% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 7% per year.
お知らせ • Jul 17Thule Group AB (Publ) Appoints Toby Lawton as Chief Financial Officer, Effective January 2024Toby Lawton has been appointed Chief Financial Officer, CFO, and member of Group Management in Thule Group, based out of the Group Headquarters in Malmö, Sweden. Toby Lawton brings almost three decades of relevant international finance experience, including as CFO of three publicly listed international companies in Sweden and Hong Kong. Following graduation from Oxford University, Toby spent over 25 years with SCA (including now separately listed Essity) in several roles including CFO of Asia Pacific, Vice President of M&A, and CFO of SCA. He has also been CFO of Vinda International, based in Hong Kong, and is currently CFO of Swedish company Renewcell. Toby Lawton will assume his position latest in January 2024.
お知らせ • May 13Jonas Lindqvist to Leave as Chief Financial Officer of Thule Group AB (publ)Thule Group AB (publ) announced that Jonas Lindqvist, in agreement with the company, will leave his position as Chief Financial Officer (CFO) at the company. Jonas has been the CFO of the Thule Group since 2020 and will remain in his role until his successor is in place. The recruitment process for a new CFO will begin immediately.
Upcoming Dividend • Apr 21Upcoming dividend of kr4.60 per share at 3.4% yieldEligible shareholders must have bought the stock before 28 April 2023. Payment date: 05 May 2023. Payout ratio is on the higher end at 75%, and the cash payout ratio is above 100%. Trailing yield: 3.4%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (2.5%).
Reported Earnings • Apr 06Full year 2022 earnings releasedFull year 2022 results: Revenue: kr10.1b (down 2.4% from FY 2021). Net income: kr1.28b (down 29% from FY 2021). Profit margin: 13% (down from 17% in FY 2021). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Mar 31Investor sentiment improves as stock rises 17%After last week's 17% share price gain to kr257, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 17x in the Leisure industry in Europe. Total returns to shareholders of 87% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr244 per share.
Reported Earnings • Feb 12Full year 2022 earnings released: EPS: kr12.19 (vs kr17.12 in FY 2021)Full year 2022 results: EPS: kr12.19 (down from kr17.12 in FY 2021). Revenue: kr10.1b (down 2.4% from FY 2021). Net income: kr1.28b (down 29% from FY 2021). Profit margin: 13% (down from 17% in FY 2021). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
お知らせ • Feb 11Thule Group AB (publ) Proposes DividendThe Board of Directors of Thule Group AB (publ) proposed a dividend of SEK 9.20 per share which, based on the number of shares outstanding on February 10, 2023, corresponds to SEK 962 million. The proposed dividend comprises 75% of the earnings per share for 2022. It is also proposed that dividends be paid in two installments for a better adaptation to the Group's cash flow profile. The proposed record date for the first dividend payment of SEK 4.60 per share is May 2, 2023 and the proposed record date for the second payment of SEK 4.60 per share is October 5, 2023.
Valuation Update With 7 Day Price Move • Feb 10Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to kr224, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 16x in the Leisure industry in Europe. Total returns to shareholders of 7.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr243 per share.
お知らせ • Feb 10+ 1 more updateThule Group AB (publ) Announces Executive Changes, Effective No Later Than August 9, 2023Thule Group AB (publ) announced that its board of directors has decided to appoint Mattias Ankarberg as the new president of the company. To secure a seamless handover, Magnus Welander will remain in his role until Mattias Ankarberg has finished his current role. Mattias Ankarberg has over 20 years of experience in consumer goods, from McKinsey & Company (located in Sweden and the USA), H&M (several senior positions, most recently as Global Sales and Marketing Manager) and now as CEO of Byggmax Group (publ). Mattias has been a member of the board of the Thule Group since 2018. He will take over as president of Thule no later than August 9, 2023.
Board Change • Feb 01Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. Director Sarah McPhee was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
お知らせ • Jan 11Thule Group AB (publ) to Report Fiscal Year 2022 Results on Mar 31, 2023Thule Group AB (publ) announced that they will report fiscal year 2022 results on Mar 31, 2023
Buying Opportunity • Dec 31Now 21% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be kr276, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 28%. Revenue is forecast to decline by 9.2% in 2 years. Earnings is forecast to decline by 13% in the next 2 years.
Valuation Update With 7 Day Price Move • Nov 11Investor sentiment improved over the past weekAfter last week's 18% share price gain to kr260, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 14x in the Leisure industry in Europe. Total returns to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr281 per share.
お知らせ • Nov 09+ 1 more updateThule Group AB (publ) to Report Q3, 2023 Results on Oct 27, 2023Thule Group AB (publ) announced that they will report Q3, 2023 results on Oct 27, 2023
お知らせ • Nov 08Thule Group AB (publ) to Report Q2, 2023 Results on Jul 19, 2023Thule Group AB (publ) announced that they will report Q2, 2023 results on Jul 19, 2023
Reported Earnings • Oct 27Third quarter 2022 earnings released: EPS: kr1.31 (vs kr4.93 in 3Q 2021)Third quarter 2022 results: EPS: kr1.31 (down from kr4.93 in 3Q 2021). Revenue: kr2.14b (down 23% from 3Q 2021). Net income: kr137.0m (down 73% from 3Q 2021). Profit margin: 6.4% (down from 19% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 2.2% p.a. on average during the next 3 years, while revenues in the Leisure industry in Europe are expected to grow by 6.9%. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Sep 28Upcoming dividend of kr6.50 per shareEligible shareholders must have bought the stock before 05 October 2022. Payment date: 11 October 2022. Payout ratio is a comfortable 75% but the company is not cash flow positive. Trailing yield: 5.8%. Lower than top quartile of British dividend payers (6.1%). Higher than average of industry peers (3.4%).
Reported Earnings • Jul 22Second quarter 2022 earnings released: EPS: kr5.99 (vs kr6.42 in 2Q 2021)Second quarter 2022 results: EPS: kr5.99 (down from kr6.42 in 2Q 2021). Revenue: kr3.31b (up 2.6% from 2Q 2021). Net income: kr626.0m (down 6.8% from 2Q 2021). Profit margin: 19% (down from 21% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 2.2%, compared to a 13% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Recent Insider Transactions • May 21Independent Director recently bought kr4.9m worth of stockOn the 17th of May, Hans Eckerstrom bought around 15k shares on-market at roughly kr329 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold kr4.4m more in shares than they bought in the last 12 months.
Reported Earnings • Apr 27First quarter 2022 earnings released: EPS: kr5.04 (vs kr4.27 in 1Q 2021)First quarter 2022 results: EPS: kr5.04 (up from kr4.27 in 1Q 2021). Revenue: kr3.03b (up 20% from 1Q 2021). Net income: kr527.0m (up 18% from 1Q 2021). Profit margin: 17% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 7.4%, compared to a 16% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Apr 20Upcoming dividend of kr6.50 per shareEligible shareholders must have bought the stock before 27 April 2022. Payment date: 03 May 2022. Payout ratio is on the higher end at 76%, and the cash payout ratio is above 100%. Trailing yield: 3.6%. Lower than top quartile of British dividend payers (4.6%). Higher than average of industry peers (2.4%).
Reported Earnings • Apr 08Full year 2021 earnings released: EPS: kr17.12 (vs kr11.24 in FY 2020)Full year 2021 results: EPS: kr17.12 (up from kr11.24 in FY 2020). Revenue: kr10.4b (up 33% from FY 2020). Net income: kr1.79b (up 54% from FY 2020). Profit margin: 17% (up from 15% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 11%, compared to a 16% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • Apr 01Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 33%. The fair value is estimated to be kr468, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 30%. For the next 3 years, revenue is forecast to grow by 5.8% per annum. Earnings is also forecast to grow by 6.5% per annum over the same time period.
Buying Opportunity • Mar 15Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 26%. The fair value is estimated to be kr474, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% per annum over the last 3 years. Earnings per share has grown by 30% per annum over the last 3 years.
Buying Opportunity • Feb 24Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 30%. The fair value is estimated to be kr459, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% per annum over the last 3 years. Earnings per share has grown by 30% per annum over the last 3 years.
Recent Insider Transactions • Feb 22Independent Director recently bought kr200k worth of stockOn the 16th of February, Helene Mellquist bought around 490 shares on-market at roughly kr409 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold kr9.4m more in shares than they bought in the last 12 months.
Reported Earnings • Feb 10Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: kr17.11 (up from kr11.24 in FY 2020). Revenue: kr10.4b (up 33% from FY 2020). Net income: kr1.79b (up 54% from FY 2020). Profit margin: 17% (up from 15% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 13%, compared to a 15% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 29% per year.