This apparently isn’t being followed very actively on the forum anymore. I’ve had Thule in and out of my portfolio every now and then, and currently hold a position of just under a thousand shares. My average price is around 220 SEK, and my expectations for the share price during the current period are closer to 300 SEK.
Today the company published its Q4 report, and the share was up 14% at the end of the day.
Here is a summary of the Q4 report:
Q4
Q4 revenue was 1,835 MSEK (1,678), which corresponds to a 9.4 percent increase.
Of this, 19.9 percent came from acquisitions and the impact of currency fluctuations was negative, -10.4 percent. Organically, sales remained unchanged.
The quarter’s gross margin rose to 44.9 percent (41.6).
The quarter’s operating profit was 83 MSEK (−35), which corresponds to an operating margin of 4.5 percent (−2.1).
Adjusted operating profit was 83 MSEK (65), which corresponds to an operating margin of 4.5 percent (3.8).
Net income for the quarter was 21 MSEK (−37).
Earnings per share before dilution was 0.20 SEK (−0.35).
Cash flow from operating activities during the quarter was 54 MSEK (386).
The Board proposes a dividend of 8.30 SEK per share (8.30).
Full Year
Full-year revenue was 10,429 MSEK (9,541), which corresponds to a 9.3 percent increase.
Of this, 15.4 percent came from acquisitions and the impact of currency fluctuations was −4.8 percent. Organic sales decreased by 1.3 percent.
The full-year gross margin rose to 46.0 percent (42.7).
Full-year operating profit was 1,640 MSEK (1,522), which corresponds to an operating margin of 15.7 percent (15.9). Adjusted operating profit was 1,671 MSEK (1,622), which corresponds to an operating margin of 16.0 percent (17.0).
Full-year net income was 1,114 MSEK (1,122).
Earnings per share before dilution was 10.33 SEK (10.59).
Cash flow from operating activities for the full year totaled 1,132 MSEK (2,310).