Strong results for Dometic in fourth quarter of 2018

13 February 2019
13 February 2019, Comments Comments Off on Strong results for Dometic in fourth quarter of 2018

Dometic increased net sales in the last quarter of 2018 by 25 percent to SEK 4,070 m, with an operating profit (EBIT) for the quarter of SEK 328 m. 

Operating profit (EBIT) before items affecting comparability for the quarter was SEK 420 m (310), representing a margin of 10.3% (9.5%). 

Items affecting comparability totaled SEK -92 m, related to restructuring charges in a group-wide initiative to optimize footprint and reduce costs.

Juan Vargues President and CEO of Dometic said: “During 2018, sales and EBIT reached record levels with full year organic sales growth of 5 percent and an EBIT margin improvement of 1.5 percentage points, bringing us close to our long-term target of 15 percent. Additionally, a number of key activities were initiated to further improve our performance. By moving ownership and accountability closer to the business, whilst establishing common processes to leverage our full strengths as a global company, we have become even more agile to maneuver through short-term challenges and disciplined enough to stay true to our strategy.”

“Full year growth was primarily driven by strong performances in Aftermarket and Marine. Profitability was positively impacted by good improvements in EMEA and APAC, offsetting headwinds from raw material prices and US tariffs.”

“The acquisition of SeaStar has proven successful and we are very satisfied with the financial performance and integration process during the year. In December, we finalized the acquisition of Kampa to strengthen our Aftermarket position. Kampa complements our product portfolio and broadens our global offering to make Dometic even more relevant to our customers and partners,” continued continued Juan Vargues.