Year-end report January - December 2004

· Net sales 2004 increased by 10.7 percent to 6 963 MSEK (6 288). The organic growth, adjusted for currency effects, was 9.9 percent · Net income increased by 59.6 percent to 324 MSEK (203), which corresponds to earnings per share before dilution of 13.60 SEK (8.52) · Operating profit before goodwill amortizations (EBITA) increased by 10.9 percent to 1 088 MSEK (981), which corresponds to an operating margin before goodwill amortizations (EBITA-margin) of 15.6 percent (15.6) · Cash flow from operating activities amounted to 675 MSEK (649) · In October Dometic acquired American Polar Bay LLC that manufactures air conditioning systems for the marine industry and Spanish Oyster Electronics SA which manufactures safes for e g hotels · During the fourth quarter Dometic started manufacturing of truck- and boat refrigerators in Mexico and miniBars in China. Establishing production in China is a clear entry on the world’s, at the moment, largest and most exciting market for hotel products The President and CEO’s comments on 2004 ”2004 was an excellent year for Dometic, our best ever. Net sales during 2004 increased by 10.7 percent to 6 963 MSEK. Operating profit before goodwill amortizations increased from 981 MSEK to 1 088 MSEK and net income increased from 203 to 324 MSEK, an increase compared to 2003 of 10.9 and 59.6 percent respectively. Our organic growth, excluding acquisitions and currency effects amounted to almost 10 percent. During 2004 we noted strong growth, especially in our largest business area RV and Pleasure Boat Systems. The product areas windows/doors, awnings and air conditioning performed especially well. Our customers demand more and more products that make life in a recreation vehicle or boat at least as comfortable as life at home. This is where Dometic has created its market. We are already the world’s leading supplier and during the year we continued to strengthen our positions. Especially the successes for our sanitation system on the important North American market are worth noting. The development within the smaller Special Refrigeration Systems continued to be weak. In the beginning of the year, Dometic launched a new generation miniBars and through the acquisition of Spanish Oyster Electronics, we have expanded our hotel offering with safes that we now manufacture ourselves. We thereby believe Dometic has a strong position to increase sales to this interesting customer segment once the development on the hotel market reaches momentum. Our operating profit has developed well during 2004. However, coordination activities in sales, purchasing and production continue to be important in different areas of the Group. Like other companies in the manufacturing industry, Dometic has seen price increases on different types of raw material, primarily steel and plastic. These price increases have to some extent been compensated by successful purchasing activities in other areas as well as increased purchasing from low cost countries. During the autumn, Dometic started manufacturing of miniBars in China. Establishing production in China is a clear entry on the world’s, at the moment, largest and most exciting market for hotel products. It is also an increased opportunity to expand manufacturing and purchasing in this part of the world. We believe that our long-term growth rate is sustainable. Our markets are growing and our products are continuously becoming more advanced and are adapted to additional user groups. 2004 was the single strongest year on the US RV market in the past quarter century. Compared to 2004, however, industry experts estimate that the total sales of recreation vehicles during 2005 will decrease somewhat. In Europe experts forecast sale of recreation vehicles on the same level as 2004. Dometic will continue to ensure growth by selling more and technically more advanced products per vehicle.” For further information. please contact: Lars Johansson, President and CEO, +46-141-238 100 Jan Lindstedt, CFO, +46-8-501 025 57 Louise Hedberg, Investor Relations, +46-8-501 025 17 Dometic International AB · Torggatan 8 · SE-171 54 Solna · Sweden Phone +46-8-501 025 00 · Fax +46-8-501 025 99 · www.dometic.com