Dometic Group AB · OMXSTO:DOM
Dometic Group AB — Investor Day (November 2021)
113 slides from Dometic Group AB's investor day presentation, Nov 30, 2021
Slide 1: Dometic
Slide 2: Welcome to Dometic Capital Markets Update 2021
WELCOME TO DOMETIC CAPITAL MARKETS UPDATE 2021 RIKARD TUNEDAL
Slide 3: 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
Slide 4: Agenda Details
AGENDA DETAILS 14:00–17.30 ▪ Strategy Execution – Juan Vargues 14:00 ▪ Sustainability – An integrated part of our strategy 14:20 ▪ Juan Vargues & Eva Karlsson ▪ Profitable Expansion in Mobile Living ▪ Market Trends, Our Portfolio, Acquisitions – Juan Vargues 14:30 ▪ Dometic Outdoor – Peter Kjellberg
Slide 5: Strategy Execution
STRATEGY EXECUTION JUAN VARGUES
Slide 6: We Are in a Dynamic Business Environment
WE ARE IN A DYNAMIC BUSINESS ENVIRONMENT Trade tariffs and Low retail Staycation accelerates COVID-19 regionalization inventory levels end-user demand UNDERLYING POSITIVE GROWTH TREND IN OUTDOOR Sustainability Component shortages Logistic cost and and electrification and raw material lead times tren
Slide 7: Strategy Execution Yielding Results
STRATEGY EXECUTION YIELDING RESULTS PROFITABLE EXPANSION IN MOBILE LIVING 20.2 (13.6) 14.5% (13.0%) Net Sales SEK b.1 EBIT margin1 PRODUCT LEADERSHIP 26% (12%) +82% Innovation index2 # of product launches3 COST REDUCTIONS -59% -22% SEK -150 m # of SKUs2 # of sites2 cost reduction4 WE DRIVE SUSTAINAB
Slide 8: Profitable Expansion in Mobile Living
PROFITABLE EXPANSION IN MOBILE LIVING 2021 Q3 ROLLING 12 MONTHS INCL ACQUISITIONS PROFORMA1 Net Sales, SEK b. 30 25.5 25 20 15 13.6 10 5 0 2017 Q3 rolling 12 m 2021 Q3 rolling 12 months, incl announced acquisitions proforma 1 OEM Service & Aftermarket Distribution 1) Proforma last 12 months or as an
Slide 9: Our Sales Mix Is Changing
OUR SALES MIX IS CHANGING INCREASED SHARE OF RECURRING BUSINESS Dometic Sales 2017 Q3 Dometic Sales 2021 Q3 rolling 12 months rolling 12 months incl announced acquisitions proforma Distribution 11% Distribution 26% OEM 43% Service and OEM Aftermarket Service and 61% 28% Aftermarket 31%
Slide 10: From OEM Focus to Consumer and Retail Focus
FROM OEM FOCUS TO CONSUMER AND RETAIL FOCUS TRACKING TOWARDS <20% SALES EXPOSURE IN RV OEM Dometic Sales 2021 Q3 rolling 12 months incl announced acquisitions proforma ▪ RV OEM share of group Distribution 26% RV OEM 27% sales 27% (49% in 2017) ▪ RV OEM share of group EBIT <10% Marine OEM 12% Service
Slide 11: From Concepts to Products on the Market in 2 Years
PROFITABLE EXPANSION IN MOBILE LIVING FROM CONCEPTS TO PRODUCTS ON THE MARKET IN 2 YEARS Capital Markets Day 2019 Today Concepts Products on the market
Slide 12: Targeting the Fast-Growing Residential Outdoor Premium Market
PROFITABLE EXPANSION IN MOBILE LIVING TARGETING THE USD 1 B. FAST-GROWING RESIDENTIAL OUTDOOR PREMIUM MARKET Dometic revenue potential of SEK 1b within 5 years https://www.grandviewresearch.com/industry-analysis/wine-cooler-market, https://www.statista.com/statistics/1078319/barbecue-grill-market-va
Slide 13: Mobile Deliveries – Targeting Food Delivery Market
PROFITABLE EXPANSION IN MOBILE LIVING MOBILE DELIVERIES – TARGETING THE FAST GROWING FOOD DELIVERY MARKET Dometic revenue potential of SEK 1b within 5 years
Slide 14: Digitalization – B2C
DIGITALIZATION – B2C AMBITION: 20% OF DISTRIBUTION AND AFTERMARKET SALES THROUGH B2C WITHIN 5 YEARS Activities Net Sales 2021 Q3 LTM ▪ Global platform implemented in US and Australia incl. Acquisitions Proforma Of which ▪ Ongoing implementation in Europe and Marine B2C 4% ▪ Broadened Outdoor offerin
Slide 15: Product Leadership Through Innovation
PRODUCT LEADERSHIP THROUGH INNOVATION Product innovation index Share of sales from products launched last 3 years 26% 26% 22% Q3 Innovation index 16% 14% 12% 10% 2016 2017 2018 2019 2020 2021
Slide 16: Continuous Cost Reductions
CONTINOUS COST REDUCTIONS APPROX. 150 MSEK IN ANNUAL SAVINGS FROM RESTRUCTURING PROGRAM TILL NOW -59% -27% # SKUs # suppliers 4,148 74,000 3,023 30,600 2018 2021 2018 2021 -22% -38% # factories Cost reduction 30 600 20 27 400 21 400 10 200 150 0 0 2018 2021 Target Achieved to date
Slide 17: Strategy Execution Yielding Results
STRATEGY EXECUTION YIELDING RESULTS PROFITABLE EXPANSION IN MOBILE LIVING 20.2 (13.6) 14.5% (13.0%) Net Sales SEK b.1 EBIT margin1 PRODUCT LEADERSHIP 26% (12%) +82% Innovation index2 # of product launches3 COST REDUCTIONS -59% -22% SEK -150 m # of SKUs2 # of sites2 cost reduction4 WE DRIVE SUSTAINAB
Slide 18: Sustainability – An Integrated Part of Our Strategy
SUSTAINABILITY – AN INTEGRATED PART OF OUR STRATEGY EVA KARLSSON
Slide 19: We Love the Outdoors
WE LOVE THE OUTDOORS. AS PIONEERS IN THE MOBILE LIVING ARENA, WE ARE COMMITTED TO DRIVING SUSTAINABILITY IN OUR INDUSTRY. BECAUSE WE WANT NATURE TO BE A RESOURCE FOR EVERYONE TO ENJOY AND EXPLORE. FOREVER.
Slide 20: Sustainability Journey
SUSTAINABILITY JOURNEY COMPLIANCE INTEGRATION INNOVATIVE LEADERSHIP LEVEL OF INTEGRATION ”We Drive Sustainability in Our Industry” ”On the Move” 2022 - 2024 2019 - 2021 and beyond - 2018 Traditional Strategic LEVEL OF INNOVATION, VALUE CREATION AND RISK MITIGATION
Slide 21: A Sustainable Evolution
A SUSTAINABLE EVOLUTION FROM TO Vehicles Vehicle-enabled outdoor experiences Offering sustainable products Enabling a sustainable lifestyle Reducing CO2 emissions Reducing CO2 emissions for in operations our users
Slide 22: Our Contribution
OUR CONTRIBUTION Dometic contributes to a more sustainable world by enabling people to enjoy and explore nature – locally and more frequently. We do so by offering innovative, durable, low-carbon products inspiring an active, comfortable and responsible life in the outdoors.
Slide 23: Sustainability Platform 2022-2024 and Beyond
SUSTAINABILITY PLATFORM 2022-2024 AND BEYOND Areas of Influence Products & Focus Company Consumers Supply chain areas Employer of choice in the People Good labour standards Well-being outdoor industry Sustainable Planet Sustainable operations Sustainable innovation lifestyle Good business Enable out
Slide 24: New Sustainability Targets
NEW SUSTAINABILITY TARGETS SELECTED PRIORITIES 2022-2024 2030 PLANET PLANET GOVERNANCE PLANET Extend product lifetime Increase use of Assess all new direct Reduce CO2* ton through service & renewable and/or material suppliers per net sales SEKm aftermarket programs recycled plastics in for ESG by 50
Slide 25: Sustainability Platform 2022-2024 and Beyond
SUSTAINABILITY PLATFORM 2022-2024 AND BEYOND Areas of Influence Products & Focus Company Consumers Supply chain areas Employer of choice in the People Good labour standards Well-being outdoor industry Sustainable Planet Sustainable operations Sustainable innovation lifestyle Good business Enable out
Slide 26: A Sustainable Lifestyle / Well-being / Sustainable Innovation
A SUSTAINABLE SUSTAINABLE WELL-BEING LIFESTYLE INNOVATION
Slide 27: Outdoors. Everywhere.
OUTDOORS. EVERYWHERE. Dometic’s sustainability concept goes all in on exploring local nature – comfortably, more frequently and sustainably, without having to travel far.
Slide 28: Three Key Takeaways
THREE KEY TAKEAWAYS STRATEGY OVERVIEW AND EXECUTION Strategy execution is generating significant improvements across the Group Our business mix is changing towards lower cyclicality and higher margins We enable people to enjoy an explore nature, comfortably, frequently and more sustainably by offeri
Slide 29: Profitable Expansion in Mobile Living
PROFITABLE EXPANSION IN MOBILE LIVING JUAN VARGUES Market Trends, Our Portfolio, Acquisitions
Slide 30: Strengthened Global Trends
STRENGTHENED GLOBAL TRENDS INCREASED LEISURE THE WORLD IS BECOMING MARKET SPENDING MORE MOBILE CONSOLIDATION Increased wealth and more free time, increased Mobile workplaces, mobile deliveries, Fragmented industries, size matters, leisure spending, outdoor activities. new transport trends. speed is
Slide 31: Increased Leisure Spending
INCREASED LEISURE SPENDING +50% travel less than 50 miles 2014 - 2020 US camping equipment market Distance from home, US campers 20% 29% 51% 58% 29% 13% 2014 2020 <50 miles 50-200 miles <200 miles https://www.statista.com/statistics/258585/camping-equipment-wholesale-sales-in-the-us/ http://koa.uber
Slide 32: The World Is Becoming More Mobile
THE WORLD IS BECOMING MORE MOBILE Online food delivery sales, USD b. Online food deliveries, population penetration rate 20% 17% 200 138 11% 9% 90 7% 66 48 131 106 56 71 44 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 Restaurant-to-consumer Platform-to-consumer https://www.statista.com/study/40
Slide 33: Market Consolidation
MARKET CONSOLIDATION # OF M&A DEALS WORLDWIDE 1985 - 2020 2021 Year to date +24% 60,000 50,000 40,000 30,000 20,000 10,000 0 '85 '86 '87 '88 '89 '90 '91 '92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 21 est https://www.reuters.com/
Slide 34: Sustainability Is a Reality
SUSTAINABILITY IS A REALITY Sustainable investments share Consumer willingness to pay of total assets under mgmt more for sustainable products 75% 36% 33% 64% 28% 57% 2016 2018 2020 Age 25-39 Age 40-56 Age 57-75 https://www.businesswire.com/news/home/20210322005061/en/GreenPrint-Survey-Finds-Consume
Slide 35: Innovation Is Increasingly Important
INNOVATION IS INCREASINGLY IMPORTANT Electric vehicles sold globally, Billion of connected devices million 26 30% Electric 25 vehicles in 2030 CAGR 13% 14 12 3.0 2.0 2.1 0.8 1.2 2016 2017 2018 2019 2020 2025 2030 2020 2026 https://www.statista.com/study/49240/emobility/ https://www.ericsson.com/en/m
Slide 36: Digitalization and E-commerce Revolution
DIGITALIZATION AND E-COMMERCE REVOLUTION Ecommerce % of total retail sales Number of digital buyers, billion 25.0% 2.50 2.14 2.05 20.0% 2.00 1.92 1.79 1.66 1.52 15.0% 1.50 1.46 10.0% 1.00 5.0% 0.50 0.0% 0.00 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2015 2016 2017 2018 2019 2020 2021 https:/
Slide 37: Global Trends Impacting Our Vertical End-User Markets
THE GLOBAL TRENDS ARE IMPACTING OUR VERTICAL END-USER MARKETS RV EXISTING CPV Marine Outdoor NEW Residential Hospitality Mobile Deliveries *Rolling 12 months
Slide 38: Core Competences Serving Application Areas and End-User Markets
CORE COMPETENCES SERVING SEVERAL APPLICATION AREAS AND VERTICAL END-USER MARKETS Cooling RV FOOD & BEVERAGE EXISTING Heating CPV MARKET Marine Power & electronics OTHER >SEK 200 b. CLIMATE APPLICATIONS Outdoor Mobility NEW POWER &CONTROL Residential Space optimization Hospitality Mobile Deliveries C
Slide 39: Our Addressable Market
OUR ADRESSABLE MARKET By vertical end-user market FOOD & CLIMATE POWER & OTHER TOTAL BEVERAGE CONTROL APPLICATIONS Hospitality Outdoor Residential Mobile Deliveries CPV ESTIMATED SEK > 120bn SEK > 40bn SEK > 40bn SEK > 10bn SEK > 200bn GLOBAL MARKET SIZE Other ▪ Refrigerators ▪ Air ▪ Steering system
Slide 40: RV OEM Market
RV OEM MARKET 900,000 RV Production, US, EU, AU 800,000 CAGR 700,000 2% 600,000 US 2019-2021 500,000 Van Campers +166% 400,000 Class A -12% 300,000 200,000 GERMANY 2020-2021 100,000 Panel Vans +13% Class A -10% 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 LTM Source:
Slide 41: RV Trends
RV TRENDS Need for mobile power Growing sustainability Electrification drives need solutions to meet demand on trend having an impact for energy efficient vehicles connectivity and comfort From indoor and installed RVs are becoming smaller products to outdoor and - More flexible solutions stand alon
Slide 42: Passenger Cars Are Becoming Bigger
PASSENGERS CARS ARE BECOMING BIGGER 60 100% 90% 50 80% 70% 40 60% Number of Million 30 50% SUVs in operation 40% increased 6 times 20 30% in 10 years 20% 10 10% 0 0% 2014 2020 Forecast SUVs sold SUV share of vehicle production SUV 2014: https://www.jato.com/global-suv-boom-continues-in-2018-but-grow
Slide 43: Cross Over - RV and Passenger Cars
CROSS OVER - RV AND PASSENGER CARS
Slide 44: The Leading Vehicle-Based Outdoor Brand
PROFITABLE EXPANSION IN MOBILE LIVING THE LEADING VEHICLE-BASED OUTDOOR BRAND RV Marine Van SUV/PC Growth market Strong foothold Strong foothold New growth potential Strong foothold globally globally Existing car park globally OEM installed OEM installed Not installed products Flexibility is key – m
Slide 45: We Expand Our Market
WE EXPAND OUR MARKET FROM A POTENTIAL MARKET OF 15 MILLION REGISTERED VEHICLES TO > 300 MILLION 300 250 200 35 150 million SUVs, pickups and 100 station wagons sold annually 50 0 RVs Station wagons Pickups SUVs Registered globally Registered every year Source: 2019 https://www.statista.com/outlook/m
Slide 46: Outdoor – Vehicle Based Activities
OUTDOOR – VEHICLE BASED ACTIVITIES USING OUR CORE COMPETENCES TO CREATE APPEALING SOLUTIONS FOR THE END-USER Mobile Cooling COOLING Solutions HEATING Mobile Cooking Solutions POWER & ELECTRONICS Mobile Power Solutions MOBILITY SPACE OPTIMIZATION Mobile Storage and Rest Solutions CORE COMPETENCES
Slide 47: Outdoor – Vehicle-Based Activities Offering
OUTDOOR – VEHICLE-BASED ACTIVITIES OFFERING 1. HUB SHELTER – $860 2. LIGHTS – $40 3. STORAGE – $155 4. ROOFTOP TENT – $2000 4 1 2 5. PATROL PASSIVE COOLER – $300 6. ROOF RACKS – $1055 3 5 7. DRINKWARE – $25 6 8. PLB40 BATTERY – $850 9. CFX3 ACTIVE COOLER – $1050 10. SOLAR PANEL PS120A– $500 7 11. BA
Slide 48: It's a Commuter During the Week, but an RV at Weekends
”IT’S A COMMUTER DURING THE WEEK. BUT A RV AT WEEKENDS”
Slide 49: Reducing Cyclicality and Moving to Low Ticket Spend
REDUCING CYCLICALITY AND MOVING FROM HIGH TICKET TO LOW TICKET SPEND LOWER HIGHER B2C CYCLICALITY MARGINS
Slide 50: Creating Value Through Acquisitions
PROFITABLE EXPANSION IN MOBILE LIVING CREATING VALUE THROUGH ACQUISITIONS
Slide 51: Acquisitions
PROFITABLE EXPANSION IN MOBILE LIVING ACQUISITIONS 2021 - TWIN EAGLES - VALTERRA - ENERDRIVE - FRONT RUNNER 2018 - ZAMP SOLAR - KAMPA - BÜTTNER EL - CADAC INTL - IGLOO 2017 - NDS - OCEANAIR - SEASTAR 2016 SOLUTIONS - IPV 2014 - PROSTOR - ATWOOD MOBILE 2013 PRODUCTS - LIVOS 2011 - TECHNOLOGIES - D G
Slide 52: Accelerated Acquisitive Journey
ACCELERATED ACQUISITIVE JOURNEY NINE ACQUISITIONS IN 2021 TARGETING THE OUTDOOR MARKET SERVICE AND RESIDENTIAL OUTDOOR - VEHICLE OUTDOOR MOBILE AFTERMARKET OUTDOOR BASED ACTIVITIES POWER SOLUTIONS EXPANSION v
Slide 53: M&A Strategy
M&A STRATEGY HIGHLY SELECTIVE AND DISCIPLINED APPROACH TO ACQUISITIONS CRITERIAS TYPE OF ACQUISITION • Exposure to markets with strong growth trends and BOLT-ON TRANSFORMATIONAL attractive dynamics ▪ Strengthen core ▪ Accelerate entry into new STRATEGIC • Strong market presence technologies markets
Slide 54: Strong Pipeline of Targets
STRONG PIPELINE OF TARGETS ACTIVE PIPELINE DEVELOPMENT GIVES US OPTIONS ▪ Global coordination STRATEGY IDENTIFY BUILD LOI DUE DILIGENCE TRANSACTION INTEGRATION TARGETS RELATIONSHIP AGREEMENT of pipeline ▪ Global responsible for identifying trans- formational targets ▪ Segments responsible for identi
Slide 55: Integration of Acquisitions
INTEGRATION OF ACQUISITIONS VALUE CREATION SECURED THROUGH A DECENTRALIZED MODEL INTEGRATION PRINCIPLES IN PRACTICE Senior management attention ▪ Earn-out part of transaction Retain local entrepreunership ▪ Multi-year integration plan developed for each acquired business with clear ownership Focus o
Slide 56: Acquisition of Igloo
ACQUISITION OF IGLOO MARKET LEADING BRAND IN A GROWING MARKET Igloo is #1 on mobile cooling in the US Igloo market share, coolers US US camping equipment market (value) 32.1% 27.2% 23.0% 2019 2020 2021 LTM 2013 2014 2015 2016 2017 2018 2019 2020 Source: NPD data and https://www.statista.com/statisti
Slide 57: Igloo Sales by Product Category
IGLOO SALES BY PRODUCT CATEGORY >90% OF GROUP SALES IS IN THE US TRAILMATE SERIES BEST Other Drinkware 4% Hardside 18% coolers 68% IMX SERIES BMX SERIES BETTER Softside coolers 10% LATITUDE SERIES LAGUNA SERIES GOOD
Slide 58: Brand Position Outdoor Product Range
BRAND POSITION OUTDOOR PRODUCT RANGE BEST BETTER GOOD
Slide 59: Profit Improvement Activities
PROFIT IMPROVEMENT ACTIVITIES ▪ Continued implementation of Igloo stand-alone improvement activities ▪ Product innovation and portfolio positioning Total annual EBITDA improvement of around USD ▪ E-commerce 50 ▪ Price management ▪ Cost reductions ▪ Net sales synergies ▪ Dometic technology under Iglo
Slide 60: Video Interview Igloo
VIDEO INTERVIEW IGLOO
Slide 61: Acquisitions in Four Years
11 ACQUISITIONS IN FOUR YEARS FROM SEASTAR SOLUTIONS (DEC 2017) TO NDS ENERGY (NOV 2021) EBITDA margin (proforma1) Dometic sales and EBITDA 25% 30 Dometic 20% 2021Q3 25 LTM 18.4% 15% 20 +88% 10% SEK b. 15 5% + = 10 0% Igloo Remaining 10 Total +104% 5 ▪ SEK 9 b. in added net sales1 0 ▪ EBITDA margin1
Slide 62: Acquisition of Seastar December 2017
ACQUISITION OF SEASTAR DECEMBER 2017 VALUE CREATED THROUGH SALES AND COST SYNERGIES SEK million 6000 +27% 5000 4000 3000 2000 +69% 1000 0 2017 Sales 2021 Sales 2017 EBIT 2021 EBIT Dometic Marine Seastar 2017 full year proforma vs 2021 09 rolling 12 months
Slide 63: Portfolio Strategy
PORTFOLIO STRATEGY INCLUDES DIVESTMENT OF NON-STRATEGIC AREAS Our portfolio Continuous portfolio review Criterias FOOD & ▪ Aligned with Dometic strategy BEVERAGE ▪ Positive market trends ▪ Target to build strong market positions globally in new areas MOBILE OTHER LIVING ▪ Opportunity for high margin
Slide 64: Portfolio Review
PORTFOLIO REVIEW AMBITION TO ACCELERATE THE DIVESTMENT AGENDA IN 2022 Continuous portfolio review Acquisitions ▪ Aligned with Dometic strategy ▪ Service and Aftermarket ▪ Positive market trends ▪ Mobile Power Solutions ▪ Target to build strong market ▪ Outdoor equipment positions globally in new are
Slide 65: Three Key Takeaways
THREE KEY TAKEAWAYS MARKET TRENDS, OUR PORTFOLIO, ACQUISITIONS Accelerated market trends – positive for our future growth Cross over – RVs and Passenger cars leading to higher consumer orientation, stand alone products and higher margins Acquisitions and divestments part of our continuous strategic
Slide 66: Profitable Expansion in Mobile Living – Dometic Outdoor
PROFITABLE EXPANSION IN MOBILE LIVING – DOMETIC OUTDOOR PETER KJELLBERG
Slide 67: Dometic Group Brand Portfolio
DOMETIC GROUP BRAND PORTFOLIO GROUP BRAND COVID-19 PRODUCT & SERVICE BRANDS COVID-19 COVID-19 COVID-19 MAIN PRODUCT BRANDS COVID-19 OTHER PRODUCT & SERVICE COVID-19 BRANDS
Slide 68: What Is Dometic Outdoor?
WHAT IS DOMETIC OUTDOOR? DOMETIC IS AN OUTDOOR COMPANY WITH AN UNIQUE POSITION ON A FAST GROWING MARKET
Slide 69: Dometic Is One of the Leading Vehicle-Based Outdoor Equipment Brands
DOMETIC IS ONE OF THE LEADING VEHICLE-BASED OUTDOOR EQUIPMENT BRANDS IN THE WORLD!
Slide 70: Consumer Offering
CONSUMER OFFERING Dometic Outdoor provides great solutions for people who enjoy outdoor activities enabled by a vehicle. Mainly in the areas of Mobile Cooling, Mobile Cooking, Mobile Power and Mobile Storage and Rest. This is what differentiates us from other Outdoor brands.
Slide 71: Consumer Promise
CONSUMER PROMISE Dometic Outdoor makes the Outdoors accessible and enjoyable for all – we call this Mobile Living Made Easy.
Slide 72: Vehicle Based Outdoor vs Traditional Outdoor Brands
VEHICLE BASED OUTDOOR VS TRADITIONAL OUTDOOR BRANDS COMFORT LIGHTWEIGHT SOCIAL PERFORMANCE CLOSE TO VEHICLE NO VEHICLES ▪ Longer Lifecycle ▪ Seasonal ▪ Margins ▪ Discounts ▪ Nisched ▪ Categories
Slide 73: Dometic Is One of the Leading Vehicle-Based Outdoor Equipment Brands
DOMETIC IS ONE OF THE LEADING VEHICLE-BASED OUTDOOR EQUIPMENT BRANDS IN THE WORLD! 23* GLOBAL GLOBAL COMPETITOR A COMPETITOR B *2021 09 LTM incl acquisitions proforma, excl CPV etc
Slide 74: Traditional Swedish Outdoor Brands Far Away in Global Revenue
TRADITIONAL SWEDISH OUTDOOR BRANDS FAR AWAY IN TERMS OF GLOBAL REVENUE 23* COMPETITOR C COMPETITOR D COMPETITOR E *2021 09 LTM incl acquisitions proforma, excl CPV etc
Slide 75: Vehicle Based Outdoor Development
VEHICLE BASED OUTDOOR DEVELOPMENT RV Marine Van SUV/PC 2001 2017 2020 2021 Relative Relative initial amount of investment vehicles into vehicle Strong foothold Strong foothold Strong foothold New unique global globally globally globally concept
Slide 76: We Expand Our Market Potential with +300 Million Vehicles/Families
WE EXPAND OUR MARKET POTENTIAL WITH + 300 MILLION VEHICLES/FAMILIES 300 ▪ 35 million SUVs, Pickups 250 and Station Wagons sold every year 200 ▪ Number of SUVs in operation increased 150 6 times in 10 years ▪ US marketshare 50% 100 SUV and Crossovers 50 ▪ Europe marketshare 40% SUV 0 RVs Station wago
Slide 77: It's a Commuter During the Week, but a RV at Weekends
”IT’S A COMMUTER DURING THE WEEK. BUT A RV AT WEEKENDS”
Slide 78: New Concepts Built Around New Behaviour
NEW CONCEPTS IS BUILT AROUND NEW BEHAVIOUR New! New! ACTIVITY Over the day STAYCATION 1-3 days VACATION More than 3 days
Slide 79: Expansion into New Consumer Groups
EXPANSION INTO NEW CONSUMER GROUPS
Slide 80: A Classic Dometic Consumer: Outdoor Enthusiasts
A CLASSIC DOMETIC CONSUMER: OUTDOOR ENTHUSIASTS JIM AND Badge brands Higher-Order benefits they love for outdoor time MILLIE SAWYER 46% Top 3 Box Concept Appeal ▪ Experience excitement and They own 2+ cars and primarily drive a mid-size adventure ▪ 30 - 64 [48 Median] ▪ Be humble and appreciate Amer
Slide 81: They Will Pay a Premium for Quality Gear
THEY WILL PAY A PREMIUM FOR QUALITY GEAR ”WHEN IT COMES TO OUTDOOR GEAR, IT IS 74% WORTH PAYING MORE of Outdoor Enthusiasts FOR QUALITY"
Slide 82: Perfect Fit Towards Dometic's Offering
PERFECT FIT TOWARDS DOMETIC´S OFFERING Gear to be purchased in next 12 months: MOBILE MOBILE COOLING POWER ▪ Camping tent SOLUTIONS SOLUTIONS ▪ Folding chairs ▪ Hard-sided cooler ▪ Lightning ▪ Drink- and cookware ▪ Solar panel & solar kit ▪ Shelter MOBILE MOBILE ▪ Powered Cooler COOKING STORAGE AND
Slide 83: New Additional Target Groups
NEW ADDITIONAL TARGET GROUPS STRONG TREND WITH MORE BEGINNERS IN THE OUTDOORS Focus on: Easy ▪ More Consumers have turned to the outdoors, Fast some for the first time and others for the first Storage Distance from home, US campers Affordable time in many years. ▪ Research show that vast majority of
Slide 84: New Additional Target Groups
NEW ADDITIONAL TARGET GROUPS STRONG TREND WITH YOUNGER PARTICIPANTS IN THE OUTDOORS Focus on: Comfort ▪ Significant growth among Millenials Easy (1981-1996). Versatile Affordable ▪ Millenials are the largest camping demographic Camping by generation 120% and continues to grow. ▪ 44% of millenials se
Slide 85: A Perfect Fit – Consumer Promise
A PERFECT FIT CONSUMER PROMISE DOMETIC OUTDOOR MAKES THE OUTDOORS ACCESSIBLE AND ENJOYABLE FOR ALL – WE CALL THIS MOBILE LIVING MADE EASY.
Slide 86: Three Key Takeaways
THREE KEY TAKEAWAYS DOMETIC OUTDOOR Dometic is the leading Outdoor vehicle based equipment brand in the world Dometic was the fastest growing equipment accessory brand in the US Outdoor industry 2020 We expand our market potential with +300 million vehicles/families and an unique product concept
Slide 87: Profitable Expansion in Mobile Living – Dometic Outdoor / EMEA
PROFITABLE EXPANSION IN MOBILE LIVING – DOMETIC OUTDOOR / EMEA HENRIK FAGRENIUS
Slide 88: Vehicle Based Activity
VEHICLE BASED ACTIVITY A NEW OUTDOOR MARKET IS TAKING SHAPE – FROM INSTALLED APPLIANCES TO SPACE AND FLEXIBILITY MULTI PURPUSE USE PANEL VAN OVERLANDER OUTDOOR EQUIPED STATION WAGON
Slide 89: Factors for Success in Vehicle Based Outdoor
SETTING THE FOUNDATIONS FOR SUSTAINABLE GROWTH FACTORS FOR SUCCESS IN VEHICLE BASED OUTDOOR CATEGORY CHANNEL DIGITAL MANAGEMENT MANAGEMENT ACCELERATION CONSUMER PEOPLE AND EXPERIENCE ORGANIZATION
Slide 90: 1. Category Management
1. CATEGORY MANAGEMENT CATEGORY MANAGEMENT MOBILE COOLING SOLAR PANELS ROOFTOP TENT SOLUTIONS HUB SHELTER STORAGE MOBILE COOKING SOLUTIONS PATROL PASSIVE COOLER ROOF TRACKS MOBILE BIKE CARRIES POWER SOLUTIONS DRINKWARE MOBILE STORAGE & REST CFX3 ACTIVE COOLER PLB40 BATTERY CAMPING FURNITURE SOLUTION
Slide 91: Sub Segments
SUB SEGMENTS CATEGORY MANAGEMENT ADVENTURERS/ OVERLANDERS OVER- LANDING OUTDOOR FOR ALL / FAMILY CAMPER RV OUTDOOR ENTHUSIASTS PASSENGER CAR / PANEL VANS 01/12/2021
Slide 92: Adventurers / Overlanders
CATEGORY MANAGEMENT ADVENTURERS / OVERLANDERS
Slide 93: Outdoor for All / Family Camper
CATEGORY MANAGEMENT OUTDOOR FOR ALL / FAMILY CAMPER
Slide 94: Outdoor Enthusiasts
CATEGORY MANAGEMENT OUTDOOR ENTHUSIASTS
Slide 95: Executed M&A to Support Strategy
CATEGORY MANAGEMENT EXECUTED M&A TO SUPPORT STRATEGY
Slide 96: Segment EMEA Acquisitions Overview
SEGMENT EMEA ACQUISITIONS OVERVIEW CATEGORY FOUR ACQUISITIONS COMPLETED YEAR-TO-DATE 2021 MANAGEMENT MAY 20TH JULY 2ND NOVEMBER 11TH SEPTEMBER 16TH MOBILE STORAGE MOBILE POWER MOBILE POWER MOBILE COOKING SOLUTION SOLUTIONS SOLUTIONS SOLUTION
Slide 97: Front Runner
FRONT RUNNER CATEGORY LEADING MOBILE OFF ROAD STORAGE SOLUTIONS PROVIDER MANAGEMENT Strategic fit with Dometic ▪ Global business / platform ▪ Accelerates agenda in vehicle-based activities ▪ Outstanding e-commerce platform ▪ >50% of sales from own B2C website ▪ Strong standalone growth potential and
Slide 98: Büttner Elektronik
BÜTTNER ELEKTRONIK CATEGORY MARKET LEADER IN MOBILE POWER SOLUTIONS IN THE DACH-REGION MANAGEMENT OUTDOOR MARKET Strategic fit with Dometic ▪ Part in agenda of establishing a leading global platform within Mobile Power Solutions ▪ 75% of sales within Service and Aftermarket ▪ Strong standalone growt
Slide 99: NDS
NDS CATEGORY MARKET LEADER IN MOBILE POWER SOLUTIONS IN THE SOUTH EUROPEAN MANAGEMENT OUTDOOR MARKET Strategic fit with Dometic ▪ Part in agenda of establishing a leading global platform within Mobile Power Solutions ▪ 75% of sales within Service and Aftermarket ▪ Complement Büttner Elektronik geogr
Slide 100: Cadac
CADAC CATEGORY LEADING PLAYER IN THE EUROPEAN MOBILE COOKING SOLUTIONS MANAGEMENT Strategic fit with Dometic ▪ Product range with global applicability ▪ Accelerates agenda in vehicle-based activities ▪ 100% of sales within distribution ▪ Strong standalone growth potential and an appealing synergy ca
Slide 101: Summary Acquisitions
SUMMARY ACQUISITIONS CATEGORY CREATED A NEW CATEGORY WITHIN OUTDOOR VEHICLE BASED ACTIVITY AND MANAGEMENT ARE BUILDING A COMPLETE ASSORTMENT ORGANICALLY AND THROUGH M&A MOBILE COOLING SOLUTIONS MOBILE COOKING SOLUTIONS MOBILE POWER SOLUTIONS ”IT’S A COMMUTER DURING THE WEEK MOBILE STORAGE & BUT AN R
Slide 102: 2. Channel Management Customers
2. CHANNEL MANAGEMENT CUSTOMERS CHANNEL MANAGEMENT STRONG FOOTHOLD FURTHER GROWTH WITH NEW CATEGORY RV AM AUTOMOTIVE PREMIUM CAMPING Dometic.com OUTDOOR RETAIL RETAIL RETAIL SPECIALISTS
Slide 103: 2. Channel Management Products
2. CHANNEL MANAGEMENT PRODUCTS CHANNEL MANAGEMENT STRONG FOOTHOLD FURTHER GROWTH WITH NEW CATEGORY RV AM AUTOMOTIVE PREMIUM CAMPING Dometic.com OUTDOOR RETAIL RETAIL RETAIL SPECIALISTS
Slide 104: 3. Digital Acceleration
3. DIGITAL ACCELERATION DIGITAL WEBSHOP DOMETIC.COM ACCELERATION Launched in 2021
Slide 105: Holistic 360° Marketing Activities
HOLISTIC 360° MARKETING ACTIVITIES DIGITAL BUILD AWARENESS AS AN OUTDOOR LIFESTYLE BRAND ACCELERATION Digital Print Influencers & Social Customer In store marketing package Shows and events PR
Slide 106: The Community
THE COMMUNITY DIGITAL AN ENGAGED COMMUNITY AROUND DOMETIC OUTDOOR ACCELERATION Promoting Dometic and 9 000 000 528 000 153 000 views Direct followers Direct followers product launches Tens of Millions of INDIRECT AMBASSADORS FOLLOWERS #dometic #dometic Linking Pro & Emblematic ambassadors with your
Slide 107: Example: Social
EXAMPLE: SOCIAL DIGITAL ACCELERATION
Slide 108: 4. Consumer Experience
4. CONSUMER EXPERIENCE CONSUMER EXPERIENCE
Slide 109: Consumer Experience
CONSUMER EXPERIENCE
Slide 110: 5. People and Organization
5. PEOPLE AND ORGANIZATION PEOPLE AND 40 ORGANIZATION HC OUTDOOR B2C Outdoor Lifestyle Channel Camping & RVs Store Channel Onliners & Mass Market channel Ecommerce EMEA +50 dedicated resources Central Europe & with Outdoor MEA (CEMEA) background Southern Europe UK Northern Europe Eastern Europe
Slide 111: Three Key Takeaways
THREE KEY TAKEAWAYS OUTDOOR EMEA Outdoor Vehicle Based Activity supported by strong market trends Growing rapidly number of resources with right know-how and strong ambition to succeed Strategic M&A:s complete our offering of flexible solutions
Slide 112: Our Mission Is...
OUR MISSION IS...
Slide 113: Slide 113