Thule Group (STO: THULE) financial statements
The consolidated income statement, balance sheet and cash flow statement of Thule Group for its last 6 fiscal years, as filed with the regulator, in millions of Swedish kronor. At the end of fiscal 2025 it had SEK 13,742m in total assets and SEK 7,228m in equity.
Income statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Revenue | — | — | SEK 9,132m | SEK 10,138m | SEK 10,386m | SEK 7,828m |
| Cost of sales | SEK 5,635m | SEK 5,467m | SEK 5,395m | SEK 6,279m | SEK 6,226m | SEK 4,599m |
| Gross profit | SEK 4,794m | SEK 4,074m | SEK 3,737m | SEK 3,859m | SEK 4,160m | SEK 3,230m |
| Operating profit | SEK 1,640m | SEK 1,522m | SEK 1,505m | SEK 1,706m | SEK 2,340m | SEK 1,591m |
| Finance costs | SEK 240.0m | SEK 172.0m | SEK 163.0m | SEK 91.0m | SEK 51.0m | SEK 75.0m |
| Profit before tax | SEK 1,474m | SEK 1,447m | SEK 1,420m | SEK 1,647m | SEK 2,303m | SEK 1,527m |
| Income tax | SEK 360.0m | SEK 325.0m | SEK 321.0m | SEK 373.0m | SEK 513.0m | SEK 361.0m |
| Net profit | SEK 1,114m | SEK 1,122m | SEK 1,099m | SEK 1,275m | SEK 1,790m | SEK 1,166m |
| Earnings per share | SEK 10.33 | SEK 10.59 | SEK 10.45 | SEK 12.19 | SEK 17.12 | SEK 11.23 |
| Diluted earnings per share | SEK 10.33 | SEK 10.59 | SEK 10.44 | SEK 12.12 | SEK 16.95 | SEK 11.21 |
Balance sheet
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Total assets | SEK 13,742m | SEK 14,957m | SEK 10,966m | SEK 11,679m | SEK 10,192m | SEK 8,448m |
| Current assets | SEK 3,202m | SEK 3,592m | SEK 3,669m | SEK 4,345m | SEK 3,823m | SEK 2,770m |
| Inventories | SEK 1,876m | SEK 2,155m | SEK 2,300m | SEK 3,129m | SEK 2,510m | SEK 1,068m |
| Property, plant and equipment | SEK 2,405m | SEK 2,339m | SEK 2,122m | SEK 2,007m | SEK 1,479m | SEK 1,033m |
| Cash | SEK 218.0m | SEK 405.0m | SEK 94.0m | SEK 176.0m | SEK 149.0m | SEK 706.0m |
| Total liabilities | SEK 6,514m | SEK 6,862m | SEK 4,117m | SEK 5,126m | SEK 4,377m | SEK 3,195m |
| Current liabilities | SEK 1,503m | SEK 1,683m | SEK 1,475m | SEK 1,593m | SEK 2,203m | SEK 1,603m |
| Equity | SEK 7,228m | SEK 8,095m | SEK 6,849m | SEK 6,553m | SEK 5,815m | SEK 5,253m |
| Equity including minorities | SEK 7,228m | SEK 8,095m | — | — | — | — |
Cash flow statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | SEK 1,132m | SEK 2,310m | SEK 1,850m | SEK 616.0m | SEK 1,128m | SEK 1,614m |
| Investing cash flow | −SEK 335.0m | −SEK 3,099m | −SEK 251.0m | −SEK 464.0m | −SEK 503.0m | −SEK 170.0m |
| Financing cash flow | −SEK 965.0m | SEK 1,102m | −SEK 1,679m | −SEK 136.0m | −SEK 1,186m | −SEK 1,001m |
| Capital expenditure | SEK 348.0m | SEK 264.0m | SEK 251.0m | SEK 443.0m | SEK 505.0m | SEK 167.0m |
| Dividends paid | — | — | — | SEK 1,359m | SEK 1,621m | SEK 0.0m |
Where each figure comes from
From the annual report Thule Group files every year in the European single electronic format (ESEF). The filing for each fiscal year: 2025 · 2024 · 2023 · 2022 · 2021. If an item is not tagged in the filing, it is not in the table. The summary of the last fiscal year is on the Thule Group page.
Information prepared from the accounts the company files with the regulator, for information purposes only. It is not financial advice or a recommendation to buy or sell. Updated on 12 November 2026.