Thule Group: Year-End Report, Fourth Quarter, October– December 2015

Regulatory News:

Fourth Quarter

• Net sales (1) for the quarter amounted to SEK 980m (900), corresponding to an increase of 8.8 percent. Adjusted for exchange rate fluctuations, sales rose 3.0 percent.
• Underlying EBIT (1) was SEK 48m (34), corresponding to an increase of 40.0 percent and a margin of 4.9 percent (3.8). Adjusted for exchange rate fluctuations, underlying EBIT rose 28.4 percent and the margin improved 1.0 percentage point.
• Earnings per share before dilution (1) amounted to SEK 0.22 (neg: 1.14).

Full-year

• Net sales (1) for the full-year were SEK 5,320m (4,556) corresponding to an increase of 16.8 percent. Adjusted for exchange rate fluctuations, sales rose 5.1 percent.
• Underlying EBIT (1) amounted to SEK 850m (718), corresponding to an increase of 18.4 percent and a margin of 16.0 percent (15.8). Adjusted for exchange rate fluctuations, underlying EBIT rose 13.7 percent and the margin improved 1.2 percentage points.
• Net income (1) was SEK 587m (236).
• Cash flow from operating activities (2) totaled SEK 662m (355).
• Earnings per share before dilution (1) amounted to SEK 5.87 (2.75).
• The Board of Directors proposes a dividend of SEK 253m, which corresponds to a dividend of SEK 2.50 per share based on the number of shares outstanding at February 15, 2016, to be distributed over two payment dates, SEK 1.25 in May and SEK 1.25 in October. The proposed dividend comprises 56 percent of the earnings per share from total operations.
• Financial targets – Following the divestment of the snow chain operations in the third quarter and given the company’s strong financial performance during the year, the Board has chosen to raise the long-term target for the underlying EBIT margin to 17 percent (previously 15 percent). The three other financial targets remain unchanged.

The full report is available at www.thulegroup.com

(1) Pertains to continuing operations excluding the Snow Chain division, which was divested in September 2015 and the Trailer and Towing divisions, which were discontinued in 2014.

(2) Based on total operations, meaning both continuing operations and operations discontinued in 2015 and 2014.

Conference call A combined press- and analyst call with Magnus Welander, CEO and President, and Lennart Mauritzson, CFO, is scheduled for today, February 15, 2016, at 10:00 a.m. (CET). Phone numbers Sweden +46 8 50 510 036 United Kingdom +44 20 3059 8125 United States + 1 866 796 1569 All other locations + 44 20 3059 8125 The password Thule Group should be quoted for the operator when dialing in. Make sure you are connected to the conference call by registering a few minutes before the conference begins.

Web presentation The link to the live broadcast will be published on http://www.investis-live.com/thule-group/566056e04731d008000d54bf/tg

The presentation will be available in connection to the conference call. The web presentation will be available for replay and review at www.thulegroup.com later the same day.

This information is disclosed in accordance with the Securities Markets Act| |and/or the Swedish Financial Instruments Trading Act. The information was | |submitted for publication on 15 February, 2016 at 07.45 a.m. CET.

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 (pick-up truck tool boxes). Our products are sold in 139 markets globally. There are more than 2,000 of us working for Thule Group at nine production facilities and more than 35 sales locations all over the world. Net sales for 2015 amounted to 5.3 billion SEK. Thule Group is a public company listed at Nasdaq Stockholm. For more information, please visit www.thulegroup.com

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