RV appliance and equipment supplier Dometic has announced net sales in the recent quarter of SEK 5,545 million, meaning an increase of 24 percent over the same quarter a year ago.
One million Swedish Krona is equal to $116.6 million in dollars.
Profit for the recent quarter was SEK 480 million.
The company said in its report that despite “significant supply chain disturbances impacting many industries around the world,” it achieved an all-time record in sales for the year of more than SEK 20 billion,” said Juan Vargues, president and CEO. “Supply chain disturbances, rising raw material prices and freight costs all had an adverse impact on the (profit) margin. We are continually adjusting our pricing to compensate for higher costs and safeguard profitability. Compared to a year ago we have increased investments in sales and marketing to drive growth in new strategic areas, including B2C. In addition, we had a low cost base last year, still influenced by the pandemic related lock-downs.
“We are continuing to make acquisitions, and in September we announced two further acquisitions targeting the outdoor market: Cadac International, a provider of premium barbecues and accessories to the vehicle-based outdoor market, and Igloo, an iconic brand and manufacturer of cooling boxes and drinkware. Igloo has a clear number one position on the cooling box market in the U..S and adds strong market positions and consumer experience, assets that will be very useful in the next stage of our transformation.
“Strategy execution aimed at transforming Dometic into a more consumer-oriented company with lower sales cyclicality and higher margins continues at a high pace. … Our eight acquisitions year-to-date, all focusing on distribution and service and aftermarket customers, will help to further accelerate the pace of this transformation,” Vargues said.
