Skip to main content

Dometic Reports Higher Marine Revenue

In its first quarter as a separate segment, the marine unit reported net sales of $150 million.
1_DOMETICEARNS

Dometic said sales in its marine division grew 12 percent in the first quarter. In its debut quarter as a separate segment, the marine unit achieved approximately 25 percent earnings before interest, taxes, depreciation and amortization margin, Dometic said in a statement. The company said it plans to grow the marine business globally.

The marine segment reported operating EBITDA of SEK371 million ($37.6 million) before amortization of acquisition-related intangible assets and items affecting comparability. Improving net sales growth, pricing, cost reductions and currency effects were partially offset by rising raw material prices, freight costs, supply constraints and sales mix. The unit reported net sales of SEK1,486 million ($150 million).

“Supported by an underlying strong end-user demand for outdoor activities, we are optimistic about the long-term trends in the mobile living industry,” president and CEO Juan Vargues said in the statement. “Our order backlog remains strong, and retail inventory levels remain below historical levels across several vertical end markets.

“However, the current macroeconomic situation brings uncertainty, and it is difficult to predict how geopolitical developments and increased inflation will impact demand. While paying close attention to the short-term market development, we will continue to implement our strategic agenda to deliver on our targets.”

Dometic acquired Treeline Capital during the recent quarter, and the company said that enhances its overall product offering and distribution in mobile power products for the marine service and aftermarket.

At the same time, Dometic said it continues a cost restructuring. For example, in March the company announced that it will move a manufacturing operation from Elkhart, Ind., to other locations in the Americas.

Related

1_TRAVELIFT.COOP

Marine Travelift Launches Co-op Program

The company received its first student, a University of Wisconsin engineering major, in the seven-month paid co-op.

1_JULY4

Trade Only Today Returns Tuesday

The e-newsletter will not publish July 4 in observance of Independence Day. We wish everyone a safe holiday weekend.

1_ORR.FUNDS

ORR Announces Federally Funded Projects

The U.S. Economic Development Administration prioritized outdoor recreation for the first time

Norm#4

Ten Ways To Sell in a Tough Economy

These keys to successful selling can help you create customers who keep coming back, even when sales dip

1_ASA.BOARD

ASA Names New Board Members

The American Sportfishing Association filled two at-large seats and two regional seats on its board of directors.

1_EXEC.SEARCH

Dammrich, Hopkinson Partner With Marine Resources Recruitment

The industry veterans will help clients fill executive-suite, marine industry job openings around the world.

1_PULSE.PING.0630

DEALERS: How Was Business in the First Half of 2022?

With the second quarter coming to a close, was there parity between the budget and financial performance in the first six months? Take the Pulse Report survey here.

1_PMMPODCAST

Passagemaker Relaunches Podcast

Trawler Talk aims to connect with those who are interested in the cruising lifestyle, with episodes dropping every other week