Components and accessories manufacturer Dometic recently released its 2025 first-quarter financial results for the period ending March 31, 2025. The company reported consolidated net revenues of SEK$5.83bn ($606.3 million), an 11% year-over-year decrease from the first quarter of FY2024. Operating profit was SEK$465 million ($48.4 million), down from SEK$611 million ($63.5 million) from the previous quarter, corresponding to a margin of 8%, down from 9.0% in the year-earlier quarter. Profit for the period was SEK$181 million ($18.82 million), down from SEK$273 million ($28.4 million) from the previous quarter.
The Marine segment reported net sales of SEK$1.3 billion ($135.1 million), down from SEK$1.5 billion ($156 million) in the year-ago period, representing 22% of Group net sales. Total growth fell 13%. The organic net sales decline was attributable to both the OEM and the Service and Aftermarket sales channels.
In a statement, Dometic CEO and president Juan Vargues said, “The EBITA-margin for the Marine segment declined to 19.7 percent (23.6) due to lower net sales. We continue to invest in new Marine solutions and, during the quarter, launched the Gyro Stabilizer — a completely new product category in our Marine-offering. This product complements perfectly our world-leading steering systems, and with this launch we are entering a multi-hundred-million USD market. The product won the prestigious American boating industry Innovation Award 2025 at the Miami International Boat Show and customer feedback has been highly positive.”
In December, Dometic announced a global restructuring plan that included eliminating some business lines and closing two manufacturing sites and five distribution centers. At the time, the company said it would also consider divestment opportunities and continue cost-cutting programs. The moves would reduce costs and improve profitability, according to a company statement.
“The Global restructuring program announced in December 2024 is progressing as planned,” CEO Vargues said in the statement. “Since the program start, we have closed one manufacturing site and one distribution center. The divestment activities are progressing well and discussions with potential buyers are ongoing. We continue to invest in product innovation and sales capabilities in our strategic growth areas, and the product innovation index improved to 21 percent.”
