· Net sales for the quarter were
· Operating profit before depreciation and amortization (EBITDA) for the quarter was
· Operating profit (EBIT) before items affecting comparability for the quarter was
· Items affecting comparability for the quarter were
· Operating profit (EBIT) for the quarter was
· Cash flow for the quarter was
· Profit for the quarter was
· Earnings per share for the quarter were
CEO COMMENT
"During the first quarter of 2020, the world faced an extreme and unparalleled situation with the spread of the corona pandemic (Covid-19). We have yet to discover the full impact on society and our businesses, but what we do know is that now is the time to act responsibly, decisively and collaboratively. We acted quickly as soon as we became aware of the Covid-19 outbreak in
The first quarter was negatively affected by the rapid changes in the trading environment. We were able to effectively manage supply chain disruptions in
During the first quarter, we continued to deliver on our strategy. The innovation index continues to improve and reached 18 percent, compared with 14 percent the same quarter last year. We introduced a new generation of mobile coolers, the CFX3, and we also presented our first range of residential products with the Dometic Mobar patio cooler for beverages. We are continuing to implement activities under our global restructuring program. So far, 14 locations and around 500 employees have been affected. Implementing this program remains a priority and we intend to accelerate the execution going forward.
Due to the current uncertainties, we proactively negotiated an amended financing agreement with our bank group. According to our current assessment, this amended financing agreement creates the necessary flexibility and covenant headroom for the coming four quarters. We have full focus on ensuring continued positive cash flow and maintaining a solid financial position.
At the moment it is difficult to predict how the situation will develop over the coming months. Considering the close-down of main markets in April to reduce the spread of Covid-19, and the difficulties to assess when the markets will open up and how demand will be affected, we expect that sales and profitability will be significantly affected in the second quarter of 2020."
PRESENTATION OF THE REPORT
Analysts and media are invited to participate in a telephone conference at 10.00 (CEST)
US: +1 646 722 4902
Webcast URL and presentation are available at www.dometic.com.
This information is information that
FOR FURTHER INFORMATION, PLEASE CONTACT
Phone: +46 8 501 025 46, Email: ir@dometic.com
ABOUT DOMETIC
Dometic is a global market leader in branded solutions for mobile living in the areas of Food & Beverage, Climate, Power & Control and Other Applications. Dometic operates in the
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