WASHINGTON: Thule reported net sales for the fourth quarter amounted to SEK (Swedish Krona) 1.07 billion, corresponding to an increase of 9.2 percent. Adjusted for exchange rate fluctuations, sales rose 2.5 percent. Operating income amounted to SEK 65 million up from SEK 44 million, a 47.7 percent jump. Underlying EBIT was SEK 68 million versus SEK 48 million and corresponding to an increase of 42.7 percent. The EBIT margin was 6.4 percent against 4.9 million. After adjustment for exchange rate fluctuations, underlying EBIT improved 0.2 percentage points. Earnings per share before dilution amounted to SEK 0.36 versus SEK 0.22.
The review of the Specialty segment has led to the decision to divest the toolboxes for pick-up trucks business in 2017. Net sales for the full-year were SEK 5.61 billion against 5,32 billion, corresponding to an increase of 5.5 percent. Adjusted for exchange rate fluctuations, sales rose 4.9 percent. Operating income totaled SEK 957 million versus 825 million. Underlying EBIT amounted to SEK 970 million against SEK 850 million, corresponding to an increase of 14.0 percent and a margin of 17.3 percent against 16.0 percent. After adjustment for exchange rate fluctuations, underlying EBIT rose 10.0 percent and the margin improved 0.8 percentage points.
