Thule Group reported its sales increased 20.0 percent to SEK 1.70 billion, or about $202 million, up 6.4 percent in currency-neutral terms.
The Swedish maker of car racks, rooftop boxes, backpacks, strollers and other carrying gear reported underlying EBIT grew 17.2 percent to SEK 352 million ($42 m), or 20.7 percent of revenues, compared with SEK 300 million, or 21.2 percent of revenue in the second quarter ended June 30, 2014. Adjusted for exchange rate fluctuations, underlying EBIT rose 8.7 percent and the operating margin improved 0.5 percentage points.
Net income for the period was SEK 254 million ($30 m), compared with SEK 142 million a year earlier. Cash flow from operating activities was SEK 248 million ($29 m), up from SEK 170 million. Earnings per share before dilution amounted to SEK 2.54, up 51 percent from SEK 1.68 in the second quarter of 2014.
