Dometic Group AB (publ) (DOM) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Today I am pleased to present the CEO, Juan Vargas, and the CFO, Stefan Freestet. For the first part of the call, all participants will be in listen-only mode. During the questions and answers session, participants are able to ask questions by pressing star 5 on their telephone keypad. Now I will hand the conference over to the speakers. Please go ahead. Good morning, everybody, and welcome to the quarterly report for the second quarter of 2025. If we start immediately with the presentation, the turbulent market conditions and tariff uncertainties continue to have a negative impact on our numbers. We see that there is still today a low consumer confidence, leading also to a negative sentiment among dealers, especially in the William Channel. And that leads also to a situation where retailers still are very, very careful in building up inventories. When looking at performance, our performance, we ended up the quarter showing a negative organic growth of 11%, with service and aftermarket down 12%. Here, we need to keep in mind that we have a relatively good Q2 2024. Distribution ended up at minus 7% organically, affected both by production stock, primarily, I would say, production stock in our facility in Katy, Texas. And we will come back with some more detail later. And then also affected by poor weather in the American markets. And then we ended up at minus 40% with growth in London Vehicle Americas. while both APAC and EMEA are down. We are happy to comment that we see a stabilization of your intake in Q2 in comparison to Q1, even also a better backlog situation at the end of the quarter than what we had at the end of Q1. Looking at our profitability, we ended up at 14%, which is in part with the profitability we showed in Q2 last year. We introduced, as you all kn...