Dometic announced it is changing its segment reporting structure from the reporting of the Q1 2024 interim report.
“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 company said in a release.
The first steps were 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, the company said. In addition, the mobile power solutions business is a new sub-segment in segment global ventures.
The new segment structure with six reported segments:
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- Land Vehicles Americas
- Land Vehicles EMEA
- Land Vehicles APAC
- Marine
- Mobile Cooling Solutions
- Global Ventures
Segment description:
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- 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 and aftermarket business, as well as other outdoor standalone products, such as 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.
To facilitate year-on-year comparisons, restated financials for 2022 and 2023 full year and by quarter, are available here. 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.