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

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WEBVTT 00:00:00.031 -- 00:00:05.638 And thank you for joining us on this call, 00:00:05.638 -- 00:00:10.363 where we are going to present the first quarterly report for the year. 00:00:10.363 -- 00:00:15.226 So moving into the summary, 00:00:15.309 -- 00:00:20.375 as you all know, the market conditions continue to be tough for some of our main 00:00:20.375 -- 00:00:22.375 verticals. 00:00:22.798 -- 00:00:27.804 We have, I would say, the quarter has been very much marked by the situation 00:00:27.804 -- 00:00:31.840 with the tariffs. starting at the beginning of January. 00:00:31.840 -- 00:00:37.306 And of course, as a company, we have spent, I don't know what to say, hours, days, weeks, 00:00:37.306 -- 00:00:39.127 calculating 00:00:39.127 -- 00:00:43.149 on different scenarios, obviously, and preparing ourselves. 00:00:44.192 -- 00:00:49.418 We see the retail inventories of our customers are lower and 00:00:49.418 -- 00:00:54.603 coming in some areas to very low levels, at the same time as we still 00:00:54.603 -- 00:00:58.224 see, obviously, due to the market situation, 00:00:58.334 -- 00:01:02.181 customers are cautious in building up any new inventories. 00:01:02.181 -- 00:01:05.466 So the situation we see is a little bit every second month. 00:01:05.466 -- 00:01:10.455 We see that people are starting to buy, but then traffic 00:01:10.455 -- 00:01:16.304 is not as expected, and then they postpone the next purchase order. 00:01:16.304 -- 00:01:18.588 When looking at our performance, 00:01:18.588 -- 00:01:21.610 we reported minus 10% 00:01:22.315 -- 00:01:24.655 organic growth. 00:01:25.537 -- 00:01:30.885 Out of that, we also have 1% negative growth coming from the fact that we left 00:01:30.885 -- 00:01:35.533 one of the businesses that we already communicated ba...