Thule Group shares jumped 13.26% Tuesday after the Swedish outdoor-gear maker reported fourth-quarter sales and profit above analyst expectations, driven by strong European demand and widening margins. The Malmö-based company posted net sales of SEK 1.84 billion, up 9.4% year-over-year, with organic sales flat but adjusted operating income climbing 28% to SEK 83 million.

The gross margin expanded to 44.9% from 41.6%, fueled by favorable product mix, pricing gains and efficiency improvements, plus the contribution from Quad Lock, the phone mount maker Thule acquired in late 2024. Europe delivered 2.3% organic growth to SEK 1.10 billion, powered by RV Products, awnings and bike carriers for motorhomes, which surged 10% organically despite broader market softness.

North American sales fell 3.5% organically to SEK 485 million, though management noted gradual sequential improvement through the year. For the full year, sales increased 9.3% to SEK 10.43 billion, though organic sales slipped 1.3%. CEO Mattias Ankarberg highlighted cost cuts and a SEK 450 million warehouse automation project in Poland expected to generate SEK 75 million in annual EBIT gains by 2028. Analysts maintained a SEK 290 price target, citing clear evidence of cost discipline and supportive results.