Dometic reports 33 percent sales jump for second quarter

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Dometic reported sales of $593.4 million (SEK 5.3 billion) for its second quarter. Net income was $70.4 million (SEK 629 million), compared to $53.7million (SEK 474 million) a year ago.

The company said in an online statement that its Americas division saw net sales growth of 62 percent to $302.3 million (SEK 2.7 billion), compared to $190 million (SEK 1.7 billion) a year ago. That represented 52 percent of companywide sales. Operating profit rose to $5.3 million (SEK 475 million), up 73 percent. Dometic reported organic growth of 11 percent in third quarter in the Americas, with the remainder from acquisitions.

“Marine OEM, excluding SeaStar, reported good sales growth,” the statement said. “SeaStar performed well with good sales growth and profitability.”

“SeaStar performed well in the quarter, especially in the aftermarket,” said Dometic CEO Juan Vargues. SeaStar contributed 15 percent of the 59 percent in OEM sales growth for the quarter and 6 percent to the company’s 68 percent gain in aftermarket sales.

“The outlook for our combined businesses remains unchanged, with an estimated organic growth in line with our target of 5 percent,” said Vargues. “With the acquisition of SeaStar, combined with continued efficiency improvements, we are aiming at reaching our target of 15 percent EBIT margin during 2018.”