Thule expects higher gross margin and Thule stock gains 1.00 percent

Published on 10/06/2026 at 11:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Danske Bank cut its target to SEK 280 from SEK 285 on September 18. Thule stock costs EUR 17.24 on October 6, 2026 versus EUR 17.07.

Schwarzweiß-Reportage: Montage eines Dachträgers in der Fertigung — Schwarzweiß-Reportage zu Thule Group AB SE0007158910 dokumentiert Montage eines Dachträgers in industrieller Fertigung, Illustration mit AI erstellt.

Thule Group (ISIN SE0006422390) was trading at EUR 17.24 at Lang & Schwarz on October 6, 2026 at 11:00 a.m. CEST, plus 1.00 percent versus the EUR 17.07 prior close. As MarketScreener reported on September 23, 2026, Thule expects a higher gross margin in the third quarter, while North America remains its most difficult market.

Q3 margin outlook meets cost pressure

The expected margin improvement includes a one-time benefit from refunded US import duties. Thule recovered USD 5.00 million in duties, while freight and raw-material costs continued to pressure profitability, according to MarketScreener.

Price increases introduced on August 1, 2026 are expected to offset part of the cost burden, although their full effect comes later. European sales of caravans and motorhomes also declined, and products for that market represent 17.00 percent of Thule revenue, the report said.

First-half growth remains measurable

Quartr reported that Thule delivered 3.00 percent organic growth in the first half of 2026 and improved its EBIT margin by 1.50 percentage points. The company also reached SEK 10.40 billion in net sales over the twelve months ending with the second quarter of 2026, with EBIT of SEK 1.70 billion and an EBIT margin of 16.80 percent.

Thule's investor page lists the second-quarter 2026 interim report, covering April through June, as the latest report dated July 20, 2026. The combination of first-half growth and a higher expected third-quarter margin gives the market a measurable operating signal, but the North American and recreational-vehicle exposure remains a counterweight.

Analyst target moves lower

According to MarketScreener on September 18, 2026, Danske Bank cut its target for Thule from SEK 285 to SEK 280 and reiterated its Buy rating. The lower target contrasts with the operational improvement because analysts still need renewed demand growth to support a stronger valuation.

On Nasdaq Stockholm, Thule was last at SEK 193.90 at 11:00 a.m. CEST on October 6, 2026, versus a SEK 191.50 prior close. Its 52-week range was SEK 185.10 to SEK 299.20, and its market capitalization was SEK 20.9 billion as of October 6, 2026.

Next results arrive October 22

Thule Group said on September 11, 2026 that it will publish third-quarter results on October 22, 2026. That report should show whether the duty refund and August price increases translated into the higher margin described in the September update.

Euro quote gains 1.00 percent

Thule was trading intraday at EUR 17.24 at Lang & Schwarz on October 6, 2026 at 11:00 a.m. CEST, up 1.00 percent versus the Lang & Schwarz prior close of EUR 17.07 on October 5, 2026. The further course of trading is shown by the continuously updated real-time quote of Thule stock.