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Thule Group≫ Interim report , first quarter , January - March 2021 ■ ■ Net sales for the quarter amounted to SEK 2,538m ( 1,744 ) , corresponding to an increase of 45.5 percent . Adjusted for exchange rate fluctuations , sales increased 56.0 percent . Operating income amounted to SEK 594m ( 325 ) , corresponding to a margin of 23.4 percent ( 18.7 ) . Adjusted for exchange rate fluctuations , the operating margin increased 4.2 percentage points . Net income amounted to SEK 447m ( 241 ) . Cash flow from operating activities totaled SEK 72m ( 8 ) . ▪ Earnings per share before dilution amounted to SEK 4.28 ( 2.33 ) . ■ New long - term targets have been established by the Board of Directors with doubled sales by 2030 , a maintained EBIT margin of > 20 % , a raised dividend level to > 75 % of net profit , as well as achieving ambitious Science Based Targets initiative goals for greenhouse gas emissions by 2030 . Jan - Mar 2021 Jan - Mar 2020 % LTM Full - year 2020 % Net sales , SEKM 2 538 1 744 +45.5 8 623 7 828 +10.1 Underlying EBIT , SEKM 594 326 +82.4 1 861 1 593 +16.8 Operating income ( EBIT ) , SEKM 594 325 +82.5 1 860 1 591 +16.9 Net income , SEKM 447 241 +85.7 1 372 1 166 +17.7 Earnings per share , SEK 4.28 2.33 +83.3 11.23 Cash flow from operating activities , SEKM 72 8 +799.4 1 678 1 614 +4.0 SEKM 3 000 2 500 2 000 1500 1 000 500 0 Q1-19 Q2-19 Q3-19 Net sales LTM Q4-19 Net sales Q1-20 02-20 03-20 Q4-20 Q1-21 SEKM 9 000 SEKM 800 8 000 600 7 000 6 000 400 5 000 200 4 000 3 000 0 Q1-19 02-19 Q3-19 Q4-19 Underlying EBIT ⚫LTM Underlying EBIT Q1-20 Q2-20 Q3-20 Q4-20 01-21 0 SEKM 2 000 1 500 1 000 500 1