RV News

Dometic Changes Financial Reporting Structure

Dometic logo

As previously announced, Dometic is changing its reporting structure from the Q1 2021 interim report with four segments reported: Americas, APAC, EMEA and Global.

The segments will replace the previous regional structure in line with the organizational change announced in 2020.

Dometic on Monday disclosed restated financials for 2019 and 2020, full-year and by quarter, and those restated financials can now be found here.

New Segment Structure

Aligned with the organizational change announced in February 2020 and implemented from 2021, Dometic said it will start to report financials according to new segments starting from the first quarter of 2021. This structure is replacing the previous region structure. The new segments are Americas, APAC, EMEA and Global. Disclosures per segment include net sales, EBIT and items affecting comparability.

From Two to Three Sales Channels

Group net sales is divided into three sales channels compared to two channels before. The new channels are OEM, Distribution, and Service and aftermarket.

Changed Reporting Between Lines in Income Statement

Logistic costs are reclassified from sales expenses to cost of goods sold. Product development costs is reclassified from cost of goods sold to research and development expenses.

Dometic said the reclassifications have no impact on operating profit.

Find the complete tables of restated financials here.

Related Articles

Back to top button