Dometic ended its fourth quarter with sales of $596 million, an increase of 11% compared with the same quarter in 2021. Operating profit for the quarter was approximately $41.53 million, a margin of 7%.
“In 2022, we continued to take significant steps forward on our transformational agenda,” president and CEO Juan Vargues said in a statement. “In an extremely challenging macroenvironment impacted by geopolitical uncertainty, high inflation, increasing interest rates and high retail inventories, we delivered record-high net sales of [$2.9 billion]. … Our net sales have more than double compared to five years ago, and distribution and service and aftermarket’s share has grown to 56%.”
Organic net sales declined 11% percent for the quarter, mainly due to reduced service and aftermarket sales. Cash flow for the quarter was about $32 million, and operating cash flow was approximately $108 million.
Earnings per share were 87 cents, and adjusted earnings per share were about 5 cents.
“We anticipate a gradual recovery in demand in service and aftermarket over the coming quarters, and continued stable development in distribution,” Vargues said in the statement. “In OEM, we foresee persistently weakened demand over the coming quarters. In this environment, we will continue to drive our strategic agenda to deliver on our targets, while at the same time remaining agile to quickly respond to the short-term market trends.”
