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Net sales for the quarter amounted to SEK 1,744m (1,834), corresponding to a decrease of 4.9 percent. Adjusted for exchange rate fluctuations, sales declined 7.5 percent.
Operating income amounted to SEK 325m (342), corresponding to a decrease of 4.9 percent and a margin of 18.7 percent (18.7).Adjusted for exchange rate fluctuations, the margin declined 0.4 percentage points.
Net income was SEK 241m (253).
Cash flow from operating activities totaled SEK 8m (outflow: 145).
Earnings per share before dilution amounted toSEK 2.33 (2.46).
The coronavirus pandemic impacted sales during the second half of March, which is the most important part of the quarter. As communicated earlier, Thule Group foresees a more significant impact in the second quarter, which is normally the company’s peak season.