Slide 1: Dometic Q4 2025 Report
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Slide 2: Juan Vargues, President and CEO
JUAN VARGUES PRESIDENT AND CEO
Slide 3: Q4 2025 Highlights
Q4 2025 HIGHLIGHTS Market development • Overall macroeconomic conditions remain challenging • Low GDP growth and weak consumer confidence in key markets • Retailers, dealers, and OEMs are cautious building inventory Performance • -3% organic sales growth - Service & Aftermarket declined by -3% - Dis
Slide 4: Q4 2025 Financial Summary
Q4 2025 FINANCIAL SUMMARY Net sales of SEK 4,058 m, -15% total growth • -3% Organic • -12% FX • 0% M&A • -1% Portfolio changes EBITA before i.a.c. of SEK 245 m, -30% • EBITA margin of 6.0% (7.3%) EPS of SEK -0.67 (-3.44) Adjusted EPS of SEK -0.39 (-0.35) Free cash flow of SEK 20 m (409) Leverage 3.3
Slide 5: YTD December 2025 Financial Summary
YTD DECEMBER 2025 FINANCIAL SUMMARY Net sales of SEK 21,042 m, -15% total growth • -8% Organic • -6% FX • 0% M&A • -1% Portfolio changes EBITA before i.a.c. of SEK 2,234 m, -16% • EBITA margin of 10.6% (10.8%) EPS of SEK 1.34 (-7.21) Adjusted EPS of SEK 2.52 (3.21) Free cash flow of SEK 1,445 m (2,3
Slide 6: Net Sales Development by Quarter
NET SALES DEVELOPMENT BY QUARTER Q4 2025 Net Sales SEK 4,058 m Organic growth -3% • Land Vehicles -4% where of: - Americas -10% - EMEA 1% - APAC -10% • Marine -3% • Mobile Cooling Solutions 3% • Global Ventures -3% Page 6 | Dometic Group
Slide 7: Net Sales by Sales Channel
NET SALES BY SALES CHANNEL • RV OEM 18% of Group sales • 49% in 2017 7% 14% CPV OEM 18% Marine OEM RV OEM OEM Dec 2025 LTM Page 7 | Dometic Group
Slide 8: Organic Growth by Sales Channel
ORGANIC GROWTH BY SALES CHANNEL Service & Aftermarket Distribution OEM 2% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2024 -1% 2025 2024 -2% 2025 2024 2025 -4% -4% -3% -6% -3% -7% -6% -8% -7% -10% -13% -14% -9% -13% -17% -16% -10% -18% -11% -20% -12% • Service & Aftermark
Slide 9: EBITA and EBITA Margin Before I.A.C
EBITA AND EBITA MARGIN BEFORE I.A.C EBITA before i.a.c last 12 months 10.6% (10.8%) Q4 2025 EBITA before i.a.c margin 6.0% (7.3%) Underlying EBITA margin was 2.9% higher on a like-for-like basis, adjusting for - FX - Tariff / labor costs and duty drawbacks in Mobile Cooling • Gross margin increase
Slide 10: Land Vehicles Q4 2025
LAND VEHICLES Q4 2025 Net sales SEK 1,852 m, -16% • Organic growth -4% • Decline in both channels • Low single digit organic growth in EMEA, decline in others EBITA before i.a.c. SEK 66 m (23) • EBITA Margin 3.6% (1.0%) Net sales and EBITA margin before i.a.c. • Positive impact from Global Restructu
Slide 11: Marine Q4 2025
MARINE Q4 2025 Net sales SEK 1,070 m, -15% • Organic growth -3% • Sales & Aftermarket on par with previous year • Single-digit decline in OEM EBITA before i.a.c. SEK 198 m (238) Net sales and EBITA margin before i.a.c. • EBITA Margin 18.5% (19.0%) • Margin decrease due unfavorable currency impact •
Slide 12: Mobile Cooling Solutions Q4 2025
MOBILE COOLING SOLUTIONS Q4 2025 Net sales SEK 733 m, -14% • Organic growth 3% • Strong recovery in North America Net sales and EBITA margin before i.a.c. EBITA before i.a.c. SEK -48 m (63) • EBITA Margin -6.5% (7.4%) 15% 2.500 • Margin declined, as previously communicated, driven by 10% 2.000 gover
Slide 13: Global Ventures Q4 2025
GLOBAL VENTURES Q4 2025 Net sales SEK 403 m, -15% • Organic growth -3% • Continuous organic growth in Other Global Verticals • Decline in Mobile Power Solutions driven by the soft RV industry Net sales and EBITA margin before i.a.c. EBITA before i.a.c. SEK 28 m (24) • EBITA Margin 7.1% (5.1%) • Incr
Slide 14: Sustainability and Innovation Q4 2025
SUSTAINABILITY AND INNOVATION Q4 2025 • LTIFR 1) at 0.7 KPI Focus area 2025 2024 2025 Target • Well below the target of 1.5 LTIFR1) People 0.7 1.6 <1.5 • Injury prevention initiatives and reporting process Share of female managers People 31% 30% 30% improvements continue Share of renewable electrici
Slide 15: Cold Machine
AWARD-WINNING INNOVATION COLD MACHINE DOMETIC CSX SELF-CONTAINED MARINE REFRIGERATION • Double-award-winning refrigeration breakthrough • Converts virtually any compartment into a high-efficiency fridge or freezer • Built on Dometic’s proven refrigeration platform • Fan-assisted airflow accelerate
Slide 16: Wall Tank
SMART & SUSTAINABLE WALL TANK SUSTAINABLE SANITATION FOR SAILBOATS • Innovative, environment-focused engineering • Ultra-efficient, space-saving system that reduces water, power, and plastic use • VacuMAX technology variants dramatically cut water consumption • Quieter, smoother, and more efficien
Slide 17: DC Power Manager
POWER MANAGEMENT DC POWER MANAGER EXPANDING THE MOBILE POWER SOLUTIONS LINE • This innovative product offers versatile voltage ratings, true bidirectional charging, smart runtime performance, simplified rigging, and battery optimization—all in one compact, durable unit. • Transforms separate batte
Slide 18: Global Cost Reduction Program
GLOBAL COST REDUCTION PROGRAM Total savings SEK 750 m Announced on December 12, 2024 Target • SEK 750 m in annual run rate savings when fully implemented end of 2026 Progress savings • Closed one Manufacturing site and five Distribution centers • 300 employees impacted • Annual run rate savings end
Slide 19: Stefan Fristedt, CFO
> DOMETIC STEFAN FRISTEDT CFO “> DOMETIC
Slide 20: Q4 2025 Income Statement
Q4 2025 INCOME STATEMENT Gross profit margin 28.7% (26.8%) • Favorable sales mix, restructuring program and other Q4 Q4 efficiency measures SEK m 2025 2024 Net sales 4,058 4,785 Underlying improvement in EBITA margin Gross Profit 1,163 1,284 (see next slide) Margin 28.7% 26.8% Operating expenses -91
Slide 21: EBITA% Bridge, Like-for-Like
EBITA% BRIDGE, LIKE-FOR-LIKE • Duty draw backs refer to a one-time positive effect of SEK 63 m Q4 Q4 related to trade tariff refunds in Mobile Cooling segment 2024 EBITA 2025 2024 • The government-mandated wage increases and tariff cost, Net Sales 4,058 4,785 referring to the Mobile Cooling segment,
Slide 22: Summary Q4 and Full-Year Cash Flow
SUMMARY Q4 AND FULL-YEAR CASH FLOW Q4 Q4 Q4 FY FY Operating cash flow SEK m 2025 2024 2025 2024 Operating profit 117 -964 1,700 -1,123 • Working capital impacted by currency, higher Adjustment for non-cash items 176 1,763 920 4,753 inventory to meet demand, a higher share of sales Changes in working
Slide 23: Free Cash Flow, SEK m
FREE CASH FLOW, SEK M STRONG CASH FLOW DESPITE SOFT TOP LINE Page 23 | Dometic Group
Slide 24: Working Capital Days
WORKING CAPITAL DAYS WORKING CAPITAL • Working capital last 12 months 25% (29%) of net sales – 23% in the quarter • Inventory balance SEK 4.8 b (6.5) – Number of days 119 (138), gradually decreasing • Further potential to optimize working capital towards target 20% of net sales ACCOUNTS PAYABLE INVE
Slide 25: Capex and Research & Development
CAPEX AND RESEARCH & DEVELOPMENT (NORMAL CURRENCY, MSEK, % OF NET SALES) CAPEX • Q4 2025 CAPEX: 1.7% of net sales (2.2% in same period 2024) Investments in strategic growth areas R&D • Q4 2025 R&D: 3.5% of net sales (3.3% same period 2024) Investments in strategic growth areas Page 25 | Dometic Grou
Slide 26: Debt Maturity Profile
DEBT MATURITY PROFILE • Total debt 14.7 SEKb • Average maturity 2.7 years 1,5 (2.8 years excluding commercial papers). 1,0 0,3 • The Facility B (233 MUSD) have been extended from 2028 to 0,8 2029. 0,4 • Undrawn revolving credit facility of EUR 300 m maturing in 2028 3,2 3,2 2,2 • Remaining 2.2 SEKb
Slide 27: Net Debt to EBITDA Leverage Ratio
NET DEBT TO EBITDA LEVERAGE RATIO Net debt leverage ratio 3.3x (3.1x) and compared to 3.2x in Q3 2025 • Reduced EBITDA driven by impact from lower net sales FX • High focus across the organization on protecting margin and reducing working capital Committed on achieving our leverage target of around
Slide 28: Q4 2025 Summary
Q4 2025 SUMMARY Business highlights • The gradual market stabilization continues with encouraging signs in order intake • Underlying EBITA margin improved 2.9% – Unfavorable currency impact – Mobile Cooling negatively impacted by increased labor costs and timing of tariff mitigation, as well as prio
Slide 29: Q&A
Q&A Page 29 | Dometic Group
Slide 30: Disclaimer
DISCLAIMER SOME STATEMENTS HEREIN ARE FORWARD-LOOKING AND THE ACTUAL OUTCOME COULD BE MATERIALLY DIFFERENT. IN ADDITION TO THE FACTORS EXPLICITLY COMMENTED UPON, THE ACTUAL OUTCOME COULD BE MATERIALLY AFFECTED BY OTHER FACTORS, (A) CHANGES IN ECONOMIC, MARKET AND COMPETITIVE CONDITIONS, (B) SUCCESS