Dometic recently reported that net sales for the first quarter of 2018 totaled had an increase of 29 percent. Operating profit had an increase of 53 percent.
“Dometic had a positive start to the year, with our efficiency and pricing initiatives beginning to generate results. Sales were strong, despite fewer working days due to Easter and cold weather in Americas and EMEA,” said Juan Vargues, president and CEO of Dometic. “Total sales growth was 29 percent, of which 10 percent was organic. The EBIT margin grew by 2.3 percentage points, whereof 0.4 percentage points were contributed by SeaStar. The integration of SeaStar is progressing according to plan and performance is in line with expectations.
“The outlook for our combined businesses remains positive with an estimated organic growth in line with our target of 5 percent,” Vargues continued. “With the acquisition of SeaStar, combined with continued efficiency improvements, we are aiming at reaching our target of 15 percent EBIT margin during 2018. Leverage is expected to be around 2.5 times by the end of 2018.”
