Dometic Group AB (publ) (DOM) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Dometic Q3 Report 2025. Today I am pleased to present CEO Juan Vargas, CFO Stefan Friestet, and Head of Investor Relations, Tobias Norby. 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 pound key 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 presentation of this third quarterly report. I would like to thank you all for participating today. We know that this is a very busy morning for many of you. With that said, let's move rapidly to the highlights. Starting obviously with still top market conditions where the most effect is really by consumer confidence still staying at pretty low levels all over the world. We see also retailers, dealers, VMs being keeping to be still today being very, very careful in building up inventories. At the same time, we also see encouraging signs of stabilization in oil intake. And we see that we are leaving this quarter with a far better backlog situation or the stock situation that we are coming from after the last two quarters. We saw improvements already in Q2, clear improvements as well in Q3. Looking at performance, a decline of 6% organically with service and aftermarket showing an improvement in comparison to Q2, moving from minus 12% to minus 4%. Distribution declined by 6%, very much driven by mobile cooling solutions, and we will get back to that. There are some aspects or some reasons for that negative decline. And then OEM also showing negative minus 8 organically, which is a clear improvement versus past quarters. And where we see land vehicle Americas moving in a positive manner, as well as marine, a...