Year-end report, fourth quarter, October-December 2014

Fourth Quarter

  · The Thule Group was listed through an initial public offering on November 26
on the Nasdaq Stockholm Mid Cap list under the ticker: THULE.
  · Net sales[1] (http://connect.ne.cision.com#_ftn1) for the quarter amounted
to SEK 976m (924) corresponding to an increase of 5.6 percent. Adjusted for
exchange-rate fluctuations, sales declined 3.3 percent.
  · Underlying EBIT1 amounted to SEK 37m (45), corresponding to an operating
margin of 3.8 percent (4.9). Operating income (EBIT)1 was a negative SEK 21m
(30) and net income1 for the period was a negative SEK 100m (- 52).
  · Earnings per share before and after dilution1 amounted to negative SEK 1.11
(- 0.62).

Full year

  · The strategic realignment of Thule Group as a consumer brand company in the
sport and outdoor industry has been completed. Thule Group’s Trailer Division
and Towing Division were divested in 2014 and are reported as discontinued
operations.
  · Net sales1 for the full year amounted to SEK 4,693m (4,331) corresponding to
an increase of 8.4 percent. Adjusted for exchange-rate fluctuations, sales rose
3.5 percent.
  · Underlying EBIT1 amounted to SEK 686m (588), corresponding to an operating
margin of 14.6 percent (13.6). Operating income1 totaled SEK 599m (514) and net
income1 for the period was SEK 199m (299).
  · Cash flow from operating activities for total
operations[2] (http://connect.ne.cision.com#_ftn2) was SEK 355m (390).
  · Earnings per share before and after dilution1 amounted to SEK 2.32 (3.54).
  · The Board of Directors proposes a dividend of SEK 2.00 per share for 2014 to
be distributed over two payment dates, SEK 1.00 in May and SEK 1.00 in October.

The full report is available at www.thulegroup.com
Conference call
A combined press- and analyst call with Magnus Welander, CEO and President, and
Lennart Mauritzson, CFO, is scheduled for today, 12 February, at 10:00 a.m.
(CET).
For participation please dial +46 8 – 566 426 91 (Sweden), +44 20 34281400 (UK)
or +1 855 7532236 (USA).
A replay of the call we be available at
www.thulegroup.com/en/reports (http://www.thulegroup.com/en/reports) later
during the day.


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|This information is disclosed in accordance   with the Swedish Financial      |
|Instruments Trading Act. The information was   submitted for publication on 12|
|February 2015 at 08:00 a.m. CET.                                              |
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 (http://connect.ne.cision.com#_ftnref1)1 Based on continuing operations,
excluding operations discontinued during 2014. Correspondingly, the comparison
periods have been divided into continuing and discontinued operations.

[2] (http://connect.ne.cision.com#_ftnref2) Based on total operations, meaning
both continuing and discontinued operations.
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Enquiries, please contact:
Fredrik Erlandsson
SVP Communications and Investor Relations
Tel: +46 70 309 00 21
E-mail: fredrik.erlandsson@thule.com
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About Thule Group
Thule Group is a world leader in products that make it easy to bring the things
you care for – easily, securely and in style, when living an active life. Under
the motto Active Life, Simplified, we offer products within two segments:
Outdoor&Bags (e.g. equipment for cycling, water and winter sports, roof boxes,
bike trailers, baby joggers, laptop and camera bags, backpacks and cases for
mobile handheld devices) and Specialty (snow chains and pick-up truck tool
boxes).
Our products are sold in 136 markets globally. There are more than 2,200 of us
working for Thule Group at 10 production facilities and more than 35 sales
locations all over the world.
Net sales for 2014 amounted to 4.7 billion SEK. Thule Group is a public company
listed at Nasdaq Stockholm.

For more information, please visit www.thulegroup.com