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Currency-neutral Thule Group sales up 5 percent in 2015

Published February 15, 2016
Thule outdoor bags category continues to grow.

STOCKHOLM (BRAIN) — Thule Group notched a 5.1 percent sales increase in 2015 in currency-neutral figures. The Stockholm-based company recorded sales of 5.3 million Swedish Kronas ($623 million) for the year, capped by a 3 percent sales increase in the final quarter. Without adjusting for currency fluctuations, Thule saw a 17 percent increase in annual sales and a 9 percent increase in the final quarter.

The company saw the most growth in its Outdoor & Bags category, which was up 20.7 percent in the fourth quarter. Thule's Sport & Cargo Carriers division was up 6.7 percent and Work Gear was up 6.5 percent. Its Bags for Electronic Devices product category posted a decline of 11.2 percent. Thule's Sport & Cargo Carriers division remains its largest product category, accouning for 60 percent of sales. The Outdoor & Bags category is now 15.5 percent of its business, up from 13.5 percent in 2014.

Topics associated with this article: Earnings/Financial Reports

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