CEO ROGER JOHANSSON COMMENTS
8% ORGANIC GROWTH AND FURTHER MARGIN IMPROVEMENT
“The third quarter showed overall solid performance. It is encouraging to see that our aftermarket business is performing particularly well, and that the Marine business is showing strong development.
Reported sales were up 9% in the third quarter, whereof 8% was organic. EBIT before i.a.c. increased by 18% and the margin improved from 12.6% to 13.6%. Cash flow was solid and debt leverage is now at 1.8x, for the first time better than our mid- to long-term target of around 2x.
Items related to rebranding, legal fees and inventory write-downs have had a negative impact on the result in the third quarter in the amount of some SEK 28 million.
The global outlook for the RV markets remains positive, with Europe continuing to show particularly strong growth. We remain confident for the rest of 2016 and expect the positive dynamics in our main markets to continue into 2017.”
PRESENTATION OF THE INTERIM REPORT
Analysts and media are invited to participate in a telephone conference on October 31, 2016, at 10.00 (CET), during which President and CEO, Roger Johansson and CFO, Per-Arne Blomquist, will present the report and answer questions. To participate in the webcast/telephone conference, please dial in five minutes prior to the start of the conference call:
Sweden: + 46 8 566 42 666
UK: + 44 203 008 98 17
US: + 1 855 831 59 48
The interim report, webcast url and results presentation can be found at www.dometicgroup.com.
FOR FURTHER INFORMATION, PLEASE CONTACT
Erika Ståhl, Head of Business Control & Investor Relations
Phone: +46 8 501 025 24
Email: [email protected]
This information is information that Dometic Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8.00 CET on October 31, 2016.
ABOUT DOMETIC GROUP
Dometic is a global market leader in branded solutions for mobile living in the areas of Climate, Hygiene & Sanitation and Food & Beverage. Dometic operates in the Americas, EMEA and Asia Pacific, providing products for use in recreational vehicles, trucks and premium cars, pleasure and workboats, and for a variety of other uses. Dometic offer products and solutions that enrich people’s experiences away from home, whether in a motorhome, caravan, boat or a truck. Our motivation is to create smart and reliable products with outstanding design. We operate 22 manufacturing/assembly sites in nine countries, sell our products in approximately 100 countries and manufacture approximately 85% of products sold in-house. We have a global distribution and dealer network in place to serve the aftermarket. Dometic employs approximately 6,500 people worldwide, had net sales of SEK 11.5 billion in 2015 and is headquartered in Solna, Sweden.