01/02/2024

1 February 2024
1 February 2024, Comments Comments Off on Dometic full year 2023 results show organic net sales declined by 12 percent
Dometic full year 2023 results show organic net sales declined by 12 percent

Dometic’s latest financial results report that tougher market conditions caused full year 2023 organic net sales to decline by 12 percent.

President and CEO, Juan Vargues said: “We are very proud of the results that we have achieved in a very challenging 2023. Thanks to our dedicated employees around the globe, we continued to take several important steps on our strategic transformation journey while we at the same time took necessary short-term cost reduction actions to protect margins and cash flow.
In a challenging market environment, impacted by geopolitical and macroeconomic uncertainty in combination with high inventory levels, we continued to demonstrate that we have become a resilient, fast-moving and more effective company.
Due to the tough market situation, full year 2023 organic net sales declined by 12 percent, while the EBITA-margin before items affecting comparability showed solid year-on-year improvements in the second half of the year and ended at 12.5 percent for the full year. Reducing working capital was a top priority and operating cash flow of SEK 5.2 b for the year was our strongest ever.
The long-term trends in the Mobile Living industry are strong, however it remains difficult to predict how the current macroeconomic situation and market conditions will impact the business in the short term.”