Slide 1: Dometic Q2 2025 Report
DOMETIC Q2 2025 REPORT
Slide 2: Juan Vargues, President and CEO
JUAN VARGUES PRESIDENT AND CEO
Slide 3: Q2 2025 Highlights
Q2 2025 HIGHLIGHTS Market development • Continued turbulent macro-economics including tariff uncertainties • Low consumer confidence • Retailers cautious about building inventory Performance • -11% organic sales growth - Service & Aftermarket -12%, against relatively tough comparables - Distribution
Slide 4: Q2 2025 Financial Summary
Q2 2025 FINANCIAL SUMMARY -18% Net sales of SEK 6,269 m, -18% total growth 7,662 • -11% Organic Net Sales • -7% FX EBITA before i.a.c • 0% M&A • -1% Portfolio changes EBITA before i.a.c. of SEK 877 m, -18% -18% • EBITA margin of 14.0% (14.0%) 6,269 1,069 EPS of SEK 1.09 (1.39) 877 Adjusted EPS of SE
Slide 5: YTD June 2025 Financial Summary
YTD JUNE 2025 FINANCIAL SUMMARY -15% Net sales of SEK 12,099 m, -15% total growth 14,188 • -10% Organic Net Sales • -4% FX EBITA before i.a.c • 0% M&A • -1% Portfolio changes EBITA before i.a.c. of SEK 1,484 m, -19% -19% • EBITA margin of 12.3% (13.0%) 12,099 1,838 EPS of SEK 1.66 (2.24) 1,484 Adjus
Slide 6: Net Sales Development by Quarter
NET SALES DEVELOPMENT BY QUARTER LTM MSEK Q2 2025 45,000 Net Sales SEK 6,269 m Organic growth -11% 36,000 • Land Vehicles -11% where of: - Americas -14% - EMEA -8% 27,000 - APAC -17% • Marine -11% • Mobile Cooling Solutions -10% 18,000 -11% • Global Ventures -11% 9,000 0% 0 -7% -1% Q2 2023 Q3 2023 Q
Slide 7: Net Sales by Sales Channel
NET SALES BY SALES CHANNEL SEK B 35 30 • RV OEM 19% Group sales • 49% in 2017 25 29% 29% 31% 20 14% 32% 11% 27% 10% 28% 15 35% 32% 29% 36% 29% 10 6% 44% 14% 51% 43% 5 57% 40% 54% 39% CPV OEM 19% Marine OEM RV OEM 0 2019 2020 2021 2022 2023 2024 Jun 2025 LTM OEM Jun 2025 OEM Service & Aftermarket Dis
Slide 8: Organic Growth by Sales Channel
ORGANIC GROWTH BY SALES CHANNEL Service & Aftermarket Distribution OEM 2024 Q2 Q3 Q4 2025 Q2 2024 Q2 Q3 Q4 2025 Q2 2024 Q2 Q3 Q4 2025 Q2 Q1 -1% Q1 Q1 -2% Q1 Q1 Q1 -3% -6% -7% -7% -13% -14% -9% -17% -16% -10% -10% -18% -11% -20% -12% -13% • Weakening growth compared to • Weakening growth within Mobil
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 10.3% (12.4%) EBITA MSEK margin LTM Q2 2025 1,200 13% EBITA before i.a.c margin 14.0% (14.0%) 12% 1,050 • Gross margin increase at 29,6% (28,3%) 11% driven by sales mix, restructuring program 10% 900 and other efficiency measures
Slide 10: Tariffs
TARIFFS Dometic 2024 Net sales APAC, 9% FACTS • 50% of the annual sales is in the US • 85% of products sold in the US are also produced in the US, Mexico or EMEA, Canada 33% US, 52% • Products from Mexico and Canada are currently to a large extent included in the USMCA1) exemption list – no tariffs
Slide 11: Land Vehicles Q2 2025
LAND VEHICLES Q2 2025 Net sales SEK 2,610 m, -18% • Organic growth -11% • Double-digit decline in Service & Aftermarket specially in Americas, against relatively tough comparables • OEM remains low due to lower RV production in EMEA and APAC while LV Americas is positive EBITA before i.a.c. SEK 313
Slide 12: Marine Q2 2025
MARINE Q2 2025 Net sales SEK 1,246 m, -19% • Organic growth -11% • Service & Aftermarket remained challenging, but showing some improvement • Double-digit decline in OEM Net sales and EBITA margin before i.a.c. EBITA before i.a.c. SEK 244 m (359) 2,000 30% • EBITA Margin 19.6% (23.4%) 25% 1,500 • Lo
Slide 13: Mobile Cooling Solutions Q2 2025
MOBILE COOLING SOLUTIONS Q2 2025 Net sales SEK 1,882 m, -17% • Organic growth -10% • Bad weather and temporary production stop affected sales • We estimate that half of the decline was caused by the Net sales and EBITA margin before i.a.c. 2,500 14% production stop 12% • Retailers remained cautious
Slide 14: Global Ventures Q2 2025
GLOBAL VENTURES Q2 2025 Net sales SEK 530 m, -24% • Organic growth -11% • Negative impact from strategic portfolio changes • Growth in Residential • Decline in Hospitality and Mobile Power Net sales and EBITA margin before i.a.c. Solutions 800 18% 700 16% 14% EBITA before i.a.c. SEK 75 m (105) 600 5
Slide 15: Sustainability and Innovation Q2 2025
SUSTAINABILITY AND INNOVATION Q2 2025 KPI Focus area Actual Actual 2025 Target last year LTIFR 1) at 0.7 LTIFR1) People 0.7 1.6 <1.5 • Lost time Injury Frequency Rate well below 1.5 target Share of female managers People 30% 29% 30% • Efforts focusing on injury prevention continue Share of renewable
Slide 16: Trailmate Series: Complete Range of Mobile Cooling Solutions
A COMPLETE RANGE OF MOBILE COOLING SOLUTIONS FOR THE OUTDOOR MARKET ACROSS ALL PRICE POINTS AND TECHNOLOGIES NEW PRODUCT LAUNCHES ACTIVE HARD COOLERS PASSIVE HARD COOLERS SOFT COOLERS DRINKWARE RECON Series RECON Series CFX5 Series $$ TRAILMATE Series TRAILMATE Series CFX2 Series $ LATITUDE Series
Slide 17: Dometic Recon – Inspired by Reconnaissance
DOMETIC RECON – INSPIRED BY RECONNAISSANCE MODULAR COOLER SYSTEM, ADVENTURE OPTIMIZED A smarter, stackable, modular cooling system. Most coolers are one-offs. Recon is a system. Hard and soft coolers plus a full line of accessories engineered to lock in, stack up, and scale with needs. Every piece f
Slide 18: 35K Furnace Essential
CONSISTENT PERFORMANCE IN 35K FURNACE TOUGH CONDITIONS ESSENTIALSMARTER, STRONGER, AND MORE DURABLE THAN EVER NEXT-GENERATION RV FURNACE 18-22% MORE AIRFLOW, With its patent-pending Hall Effect Sensor and COMPARED TO THE LEADING COMPETITOR’S FURNACE, industry-leading airflow, the new RV furnace rede
Slide 19: 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 saving when fully implemented end of 2026 Progress savings • Closed one Manufacturing site and two Distribution centers • 225 employees impacted Cost of Goods sold SG&A expenses
Slide 20: Stefan Fristedt, CFO
STEFAN FRISTEDT CFO
Slide 21: Q2 2025 Income Statement
Q2 2025 INCOME STATEMENT Gross profit margin 29.6% (28.3%) • Increase driven by sales mix, restructuring program and other efficiency measures Operating expenses SEK -982 m (-1,101) • Reduced operating expenses in constant FX • Increased in percent of net sales • Investments in strategic growth area
Slide 22: Summary Q2 and YTD Cash Flow
SUMMARY Q2 AND YTD CASH FLOW Q2 2025 Operating cash flow • Continued efficiency improvements affects working capital • Cash out related to restructuring SEK 34 m • Carefully prioritizing investments in fixed assets Free cash flow before M&A • Paid/Received interest trending down • Less tax paid Cash
Slide 23: Free Cash Flow, SEK m
FREE CASH FLOW, SEK M STRONG CASH FLOW DESPITE SOFT TOP LINE 1 746 1 566 1 395 1 302 1 109 1 032 1 054 709 744 713 609 536 323 409 307 252 63 89 -177 -96 -110 -92 -213 -406 -663 -654 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2019 2020 2021 2022 2023 2024 2025 Page
Slide 24: Working Capital Days
WORKING CAPITAL DAYS WORKING CAPITAL SEKm % • Working capital last 12 months 27% (30%) of net sales 15,000 35 30% • 27% in the quarter 27% 30 10,000 25 20 • Inventory balance SEK 4.8 b (6.7) 5,000 15 • Number of days 128 (141), gradually decreasing 10 0 5 • Further potential to optimize working capi
Slide 25: Capex and Research & Development
CAPEX AND RESEARCH & DEVELOPMENT CAPEX 300 6% 250 5% 200 4% 150 3% Q2 2025 CAPEX: 1.6% (1.0%) of net sales 272 100 1.4% 1.6% 2% • LTM: 1.8% of net sales 1.0% 115 109 106 50 99 75 96 98 97 1% 57 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2023 2023 2023 2023 2024 2024 2024 2024 2025 2025 R&D 175 4% Q2 2025 R&
Slide 26: Debt Maturity Profile
DEBT MATURITY PROFILE • Repaid SEK 500 m of a SEK bond, maturing in 2025. 1.5 • USD loan of USD 233 m maturing in 2028, includes option to extend to 2029 • Average maturity rate increased from 2.1 years in Q4 4.5 2024 to 2.4 years in the end of Q2 after repayments 0.8 of EKN-backed loan and bond in
Slide 27: Net Debt to EBITDA Leverage Ratio
NET DEBT TO EBITDA LEVERAGE RATIO Net debt leverage ratio 3.3x (2.9x) and compared to 3.3x in Q1 2025 • Reduced EBITDA driven by lower net sales affect leverage ratio • Strong cash flow driven by working capital improvement measures 3.3 3.3 3.1 2.8 2.7 2.9 3.0 3.0 3.2 3.2 2.9 2.7 3.0 2.9 3.0 3.1 • H
Slide 28: Q2 2025 Summary
Q2 2025 SUMMARY Business highlights • Robust performance with maintained EBITA margin driven by restructuring program and other efficiency measures, despite lower net sales • Strong cash flow driven by working capital efficiency measures • Challenging global macro environment and US tariff situation
Slide 29: Q&A
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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