Dometic Group AB

Latest Results (12.01.2025):

Net Sales Decline

Dometic Group AB reported net sales of SEK 5,647 million for the third quarter of 2024, marking a decrease of 17% compared to the same period in the previous year. This decline included a 14% drop in organic growth, reflecting weakened market conditions impacting the company's financial performance.

Operating Profit and Goodwill Impairment

The operating profit (EBIT) for Dometic Group AB in Q3 2024 was significantly affected by a non-cash goodwill impairment of SEK 2,000 million. As a result, the operating profit was SEK -1,673 million, with a margin of -29.6%. Excluding the goodwill impairment, the margin was 5.8%.

Profit and Earnings Per Share

Dometic Group AB reported a loss for the third quarter of 2024, with a profit of SEK -1,921 million. Earnings per share were SEK -6.01, compared to SEK 1.29 in the same quarter of the previous year. Adjusted earnings per share stood at SEK 0.59.

Cash Flow and Debt

The operating cash flow for Dometic Group AB in Q3 2024 was SEK 1,269 million, down from SEK 2,125 million in the previous year. The company also amortized a loan of USD 100 million during the quarter. The net debt to EBITDA leverage ratio was 3.0x at the end of the period, slightly higher than the 2.9x recorded at the end of Q2 2024.

Strategic Outlook

In response to the challenging market conditions, Dometic Group AB is assessing a restructuring program to accelerate its strategic agenda. The company plans to focus on cost reductions and divesting non-strategic parts of its product portfolio to support margin expansion and drive profitable growth. Details of the restructuring program will be communicated before or in conjunction with the Q4 2024 report.