SOLID EBITA MARGIN OF 14% AND IMPROVED OPERATING CASH FLOW
THIRD QUARTER 2022
- Net sales were
SEK 7,576 m (5,545); an increase of 37%, of which -6% was organic growth. -
Operating profit (EBITA) before items affecting comparability was
SEK 1,057 m (879), corresponding to a margin of 14.0% (15.9%). -
Items affecting comparability were
SEK -326 m (-23) and were mainly related to activities in the previously announced global restructuring programs. Activities are progressing as planned and total estimated costs and savings from the programs remain as communicated before. -
Profit for the quarter was
SEK 436 m (480). -
Earnings per share were
SEK 1.36 (1.50). Adjusted earnings per share wereSEK 2.53 (1.77). -
Cash flow for the quarter was
SEK 387 m (2,550). Operating cash flow wasSEK 812 m (346). -
Net debt to EBITDA leverage ratio at the end of the quarter was 3.0x (1.5x).
CEO COMMENT
"In a complex and challenging market environment we delivered substantial net sales growth of 37 percent, a solid EBITA margin before items affecting comparability of 14.0 percent (15.9) and an improved operating cash flow of
Our results show how we are transferring into a more diversified and resilient company with a larger exposure to low ticket discretionary spend products. Distribution and Service & Aftermarket accounted for 57 percent (50) of total net sales in the quarter while the lower margin RV OEM business accounted for 23 percent (31).
EBITA before items affecting comparability improved by 20 percent to
Operating cash flow for the quarter was
We are optimistic about the long-term trends in the Mobile Living industry and we are encouraged by the results generated from our strategic actions. However it is difficult to predict how the current macroeconomic situation, including high inflation and geopolitical uncertainty, will impact the business in the short term. We expect a gradual recovery of the demand in Service & Aftermarket coming quarters and a continued stable development in Distribution. In OEM we foresee a continued weakened demand coming quarters. In this challenging environment we are actively balancing our capacity with market demand, while at the same time investing for future profitable growth. While being agile and closely monitoring and acting on short-term market evolution, we will continue to implement our strategic agenda to deliver on our targets"
PRESENTATION OF THE REPORT
Analysts and media are invited to participate in a telephone conference at 10.00 (CEST)
Webcast link: https://dometic.videosync.fi/q3-2022
To participate in conference call to ask questions
Those who wish to participate in the conference call to ask questions in connection with the webcast are welcome to register on the link below. After the registration you will be provided phone numbers and a conference ID to access the conference.
Registration link: https://call.vsy.io/access-300
Webcast URL and presentation are also available at https://www.dometicgroup.com/en/investors
This information is information that
FOR FURTHER INFORMATION, PLEASE CONTACT
Rikard Tunedal, Head of Investor Relations
Phone: +46 730 56 97 35, Email: rikard.tunedal@dometic.com
ABOUT DOMETIC
Dometic is a global market leader in the mobile living industry. Millions of people around the world use Dometic products in outdoor, residential, and professional applications. Our motivation is to create smart, sustainable, and reliable products with outstanding design for an outdoor and mobile lifestyle in the areas of Food & Beverage, Climate, Power & Control, and Other Applications. Dometic employs approximately 9,000 people worldwide, had net sales of
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