SOLNA, Sweden, Feb 09, 2017 /PRNewswire/ --
- Net sales for the fourth quarter totaled SEK 2,786 million (2,523); an increase of 10%, of which 5% was organic growth.
- Operating profit (EBIT) before items affecting comparability amounted to SEK 210 million (200), representing a margin of 7.5% (7.9%), including rebranding and class action legal cost of SEK 58 million.
- Operating profit (EBIT) amounted to SEK 173 million (183).
- Cash flow for the period totaled SEK 435 million (315). Operating cash flow totaled SEK 352 million (623).
- Profit for the fourth quarter was SEK 302 million (561), including one-off tax income of SEK 175 million (727).
- Earnings per share: SEK 1.02.
- Net sales for the January-December 2016 period totaled SEK 12,388 million (11,486); an increase of 8%, of which 7% was organic growth.
- Operating profit (EBIT) before items affecting comparability amounted to SEK 1,621 million (1,412), representing a margin of 13.1% (12.3%), including rebranding and class action legal cost of SEK 77 million.
- Operating profit (EBIT) amounted to SEK 1,573 million (1,436).
- Cash flow for the period totaled SEK 750 million (238). Operating cash flow totaled SEK 1,296 million (1,390).
- Profit for the period was SEK 1,362 million (1,032).
- Earnings per share: SEK 4.60.
- The Board of Directors proposes a cash dividend of SEK 1.85 per share (n/a).
CEO, Roger Johansson comments
Active fourth quarter concludes strong 2016
"An eventful fourth quarter concluded 2016. Sales increased by 10%, whereof 5% was organic growth. EBIT before i.a.c. increased by 5% to SEK 210 million despite cost items related to rebranding and class action legal fees of SEK 58 million. Cash flow was affected by earlier inventory build-up in Americas and EMEA, to secure deliveries for the seasonal ramp-up in 2017. .
Throughout the year, we pursued our strategy for profitable growth. Most of our businesses improved both in terms of growth and profitability, based on favorable markets as well as our own initiatives. We have consolidated our positions in many markets, and with the strengthened management team in place this work will intensify in the coming year.
Our outlook remains positive. For 2017, we expect to deliver growth in line with our mid to long-term target of 5% and continue to expand EBIT margin towards our 15% target. We also aim to strengthen our portfolio further through additional acquisitions."
Presentation of the report
Analysts and media are invited to participate in a telephone conference on February 9, 2017, at 10.00 (CET), during which President and CEO, Roger Johansson and CFO, Per-Arne Blomquist, will present the report and answer questions. To participate in the webcast/telephone conference, please dial in five minutes prior to the start of the conference call:
Sweden: + 46 8 566-42-666
UK: + 44 203 008-98-17
US: + 1 855 831-59-48
The interim report, webcast url and results presentation can be found at www.dometic.com/ir.
For further information, please contact
Head of Business Control & Investor Relations
Phone: +46 8 501-025-24
This information is information that Dometic Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8.00 CET on February 9, 2017.
Dometic is a global market leader in branded solutions for mobile living in the areas of Climate, Hygiene & Sanitation and Food & Beverage. Dometic operates in the Americas, EMEA and Asia Pacific, providing products for use in recreational vehicles, trucks and premium cars, pleasure and workboats, and for a variety of other uses. Dometic offer products and solutions that enrich people's experiences away from home, whether in a motorhome, caravan, boat or a truck. Our motivation is to create smart and reliable products with outstanding design. We operate 22 manufacturing/assembly sites in nine countries, sell our products in approximately 100 countries and manufacture approximately 85% of products sold in-house. We have a global distribution and dealer network in place to serve the aftermarket. Dometic employs approximately 6,500 people worldwide, had net sales of SEK 12.4 billion in 2016 and is headquartered in Solna, Sweden.
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The following files are available for download:
Year-end report Q4 2016
Press release as PDF
SOURCE Dometic Group