Thule Group Q3 Net Income Rises 25.2% to SEK 393 Million

Thule Group’s net income rose 25.2% to SEK 393 million in the third quarter of 2026, while organic sales growth varied across its regions and market conditions remained challenging.

Net sales for July through September increased 3% year over year to SEK 2.603 billion. Organic sales growth was 1.2%. Operating income climbed 15.1% to SEK 521 million from SEK 453 million, and the operating margin widened to 20% from 17.9%. The quarter’s operating income included SEK 52 million in tariff refunds.

Organic sales grew 3.9% in Europe, while they declined 0.8% in North America and 12.4% in the rest of the world. For the first nine months of 2026, net sales were SEK 8.596 billion, compared with SEK 8.594 billion in the year-earlier period. Organic sales growth for those nine months was 2.5%.

Thule Group sells sports and outdoor products including cargo carriers, bike carriers, bags and mounts. President and CEO Mattias Ankarberg said, “Market conditions remain challenging, and we do not expect any significant improvement in the short term.”