RV appliance and outdoor equipment maker Dometic announced that it had approximately $816 million in net sales in the second quarter – the Swedish company reports in krona, with the symbol SEK – which was a 2% drop from the year-ago quarter.
The company had a profit of 534 SEK, or $52.3 million.
In its earnings report, President and CEO Juan Vargues noting the “challenging macroeconomic situation and market conditions” facing all global companies at the moment, but also pointed out his company delivered a record-high operating cash flow during the quarter.
“Organic net sales declined by 10% mainly due to segment Americas where RV industry production flattened out sequentially, but is 50% below last year,” Vargues said in the earnings report. “OEM-related organic net sales in our other segments continued to grow. Service and aftermarket organic net sales declined by 10%, a clear improvement compared with previous quarters. We expect continued gradual progress over the coming quarters as retailer inventories are consumed.”
