Dometic Group AB (publ) (DOM) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

And thank you for joining us on this call, where we are going to present the first quarterly report for the year. So moving into the summary, as you all know, the market conditions continue to be tough for some of our main verticals. We have, I would say, the quarter has been very much marked by the situation with the tariffs. starting at the beginning of January. And of course, as a company, we have spent, I don't know what to say, hours, days, weeks, calculating on different scenarios, obviously, and preparing ourselves. We see the retail inventories of our customers are lower and coming in some areas to very low levels, at the same time as we still see, obviously, due to the market situation, customers are cautious in building up any new inventories. So the situation we see is a little bit every second month. We see that people are starting to buy, but then traffic is not as expected, and then they postpone the next purchase order. When looking at our performance, we reported minus 10% organic growth. Out of that, we also have 1% negative growth coming from the fact that we left one of the businesses that we already communicated back in December. We saw a situation with all the sales channels are improving in comparison to where we are coming from in Q4. And we see also some, as we already indicated when reported Q4, some green shoots. We see that our order stock in LVA North America is starting to grow. We see also in the sub-segment OGB that even there the order stock is improving. We see that mobile cooling specifically in Europe and in APAC is showing positive organic growth, a nice positive organic growth after a few quarters of negative growth. We see as well that the service and aftermarket in some of the sub-segments are also improving. We saw specifically...