Sweden-based Dometic, which releases its earnings in Krona, reported sales during the first quarter equivalent to $770 million, a 55 percent increase over the same period a year ago. The company reported a profit equivalent to $50.2 million.
“Our Q1 results show that the successful execution of our strategy is yielding results,” President and CEO Juan Vargues said in a statement. “… During the quarter we announced one additional acquisition, continued to invest in new product innovation and accelerated the implementation of our global restructuring program.”
Vargas also noted that much of the increase in sales was due to its acquisition last year of American company Igloo.
“We are deeply concerned about the tragic developments in Ukraine and stand with all the people who are suffering,” Vargues said. “We have stopped all business activities in Russia.”