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Dometic Reports Record Q1

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Sweden-based Dometic reported net sales of SEK4.86 billion in the first quarter of 2021, or about $579 million, an increase of 16 percent compared with the same quarter a year prior.

The record quarter included a 22 percent increase in organic growth and an EBIT margin of 15 percent.

Its global segment, which includes marine, had net sales of SEK1.5 billion ($179 million) — a 22 percent increase and 30 percent of the group’s net sales.

President and CEO Juan Vargues said Dometic remains encouraged with the strong demand in the marine and mobile living segments, and has taken steps to address supply-chain issues and global shortages of components, which has led to longer than normal lead times for its products.

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“We continue to add capacity to our supply chain to meet strong customer demand, and the order backlog remains substantially higher than we have seen historically for the same period,” Vargues said in a statement. “We are positive regarding the outlook for forthcoming quarters and remain optimistic about the long-term trends in the mobile-living industry.”

Vargues also cited growth through acquisitions as part of its strategic agenda, particularly in the service and aftermarket segments of the outdoor industry.

In February, the company added grill manufacturer Twin Eagles, and last week, it announced it had acquired Valterra Products, a U.S.-based company that provides solar power solutions and more to the RV industry.

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