Dometic reports restated financials for new segment structure
- As previously announced, Dometic is changing its segment reporting structure from the reporting of the Q1 2024 interim report.
- Restated financials for the new segment structure for the period 2022 to 2023, full year and by quarter, are now available at https://www.dometicgroup.com/en-us/investors
- On Thursday March 28, 2024, at 09.00 CET, Dometic invites analysts and investors to a webcast/conference call about the restated financials with President & CEO Juan Vargues and CFO Stefan Fristedt. See dial-in details below.
Dometic is on a transformation journey and are gradually shifting the focus from a regional led approach to a product led approach, with focused and specialized teams driving specific product solutions globally. The first steps on the transformation journey were successfully taken in 2021 and 2022 with the formation of the Marine and Global segments. To further drive value creation and secure synergy realization across the company, Mobile Cooling Solutions is now a new segment. In addition, the Mobile Power Solutions business is a new sub-segment in segment Global Ventures. To facilitate year-on-year comparisons, restated financials for 2022 and 2023 full year and by quarter, are available at https://www.dometicgroup.com/en-us/investors. Disclosures per segment includes as before Net sales, Organic growth, EBITA, EBIT and Items affecting comparability. Net sales by application area are from 2024 no longer reported.
The new segment structure with six reported segments:
- Land Vehicles Americas
- Land Vehicles EMEA
- Land Vehicles APAC
- Marine
- Mobile Cooling Solutions
- Global Ventures
Segment description
-The three Land Vehicle segments Americas, EMEA and APAC. Product solutions for the RV and CPV industries is reported in the three Land Vehicle segments Americas, EMEA and APAC. This includes both the OEM and the Service & Aftermarket business, as well as other outdoor standalone products such as for example tents and mobile cooking products. The Mobile Power Solutions and Mobile Cooling Solutions businesses, previously included in segments Americas, EMEA and APAC, have been transferred to segment Global Ventures and segment Mobile Cooling Solutions respectively.
-Segment Marine remains as a separate segment. The Mobile Power Solutions and Mobile Cooling Solutions businesses, previously included in segment Marine, have been transferred to segment Global Ventures and segment Mobile Cooling Solutions respectively.
-Segment Mobile Cooling Solutions. Includes the Igloo business and other mobile cooling and drinkware businesses.
-Segment Global Ventures. Segment Global has been renamed to segment Global Ventures. Other Global Verticals remains as a subsegment. The Mobile Power Solutions business has been consolidated globally and is a new subsegment in this segment. The Igloo business has been transferred to segment Mobile Cooling Solutions.
Webcast/conference call with analysts and investors to discuss the new structure
A webcast/conference call, where President & CEO Juan Vargues and CFO Stefan Fristedt will comment on the restated financials and take questions, will begin at 09:00 CET on March 28.
Webcast link: https://dometic.videosync.fi/2024-03-28/register
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://service.flikmedia.se/teleconference/?id=100401
Webcast URL and presentation are also available at https://www.dometicgroup.com/en/investors
FOR FURTHER INFORMATION, PLEASE CONTACT:
Rikard Tunedal, Head of Investor Relations
Phone: +46 73 056 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 8,000 people worldwide, had net sales of SEK 27.8 billion in 2023 and is headquartered in Solna, Sweden.