Dometic Group

Quarterly Report • Jul 18, 2024

QUARTERLY REPORT Q2 2024

Solna, July 18, 2024

INCREASED MARGIN, STRONG OPERATING CASH FLOW AND IMPROVED LEVERAGE

SECOND QUARTER 2024 FIRST SIX MONTHS 2024

• Net sales were SEK 7,662 m (8,329); a decrease of -8%, of which -8% was organic growth.
• Operating profit (EBITA1)) before items affecting comparability2) was SEK 1,069 m (1,177), corresponding to a margin of 14.0% (14.1%). Excluding a previously disclosed one-time positive effect of SEK 33 m in the second quarter 2023, the margin for the second quarter 2023 was 13.7%.
• Operating profit (EBIT) was SEK 903 m (985), corresponding to a margin of 11.8% (11.8%).
• Profit for the quarter was SEK 443 m (534).
• Earnings per share were SEK 1.39 (1.67). Adjusted earnings per share3) were SEK 1.76 (2.11).

• Operating cash flow was SEK 1,963 m (2,299). Cash flow was SEK 990 m (2,221).

• Net sales were SEK 14,188 m (15,618); a decrease of -9%, of which -10% was organic growth.

• Operating profit (EBITA1)) before items affecting comparability2) was SEK 1,838 m (2,024), corresponding to a margin of 13.0% (13.0%).
• Operating profit (EBIT) was SEK 1,514 m (1,652), corresponding to a margin of 10.7% (10.6%).
• Profit for the period was SEK 716 m (868).
• Earnings per share were SEK 2.24 (2.72). Adjusted earnings per share3) were SEK 2.96 (3.55).
• Operating cash flow was SEK 2,176 m (2,593). Cash flow was SEK -65 m (2,184).
• Net debt to EBITDA leverage ratio4) was 2.9x (3.2x) at the end of the period. Compared to the end of the first quarter 2024 the ratio improved sequentially from 3.0x, supported by a strong operating cash flow.

FINANCIAL OVERVIEW

	Q2	Q2	YTD	YTD	LTM	FY
SEK m	2024	2023	2024	2023	2024	2023
Net sales	7,662	8,329	14,188	15,618	26,346	27,775
Operating profit (EBITA¹ ) before items affecting comparability²	1,069	1,177	1,838	2,024	3,277	3,463
% of net sales	14.0%	14.1%	13.0%	13.0%	12.4%	12.5%
Operating profit (EBITA¹ )	1,053	1,143	1,811	1,964	3,143	3,296
% of net sales	13.7%	13.7%	12.8%	12.6%	11.9%	11.9%
Operating profit (EBIT)	903	985	1,514	1,652	2,543	2,682
% of net sales	11.8%	11.8%	10.7%	10.6%	9.7%	9.7%
Profit for the period	443	534	716	868	1,180	1,332
Earnings per share, SEK	1.39	1.67	2.24	2.72	3.69	4.17
Adjusted earnings per share, SEK³	1.76	2.11	2.96	3.55	5.58	5.93
Cash flow for the period	990	2,221	-65	2,184	-2,245	4
Operating cash flow	1,963	2,299	2,176	2,593	4,789	5,205
Net debt to EBITDA leverage ratio	2.9x	3.2x	2.9x	3.2x	2.9x	2.7x
RoOC, excluding goodwill and trademarks	20.9%	18.5%	20.9%	18.5%	20.9%	21.0%

¹ Before Amortization of acquisition-related intangible assets

² See Note 6 Items affecting comparability

³ Excludes the impact from Amortization of acquisition-related intangible assets and items affecting comparability, for specification see note 8

For specification see note 9

See definitions of measures and KPIs at the end of the report. See detailed reconciliation tables on www.dometicgroup.com/investors for reconciliation of non-IFRS measures to IFRS

CEO COMMENTS

Despite persistently sluggish market conditions, high interest rates and lower consumer spend we continue to improve our performance and delivered an increased EBITA margin1) for the fourth quarter in a row, excluding a previously disclosed one-time positive effect of SEK 33 m in the second quarter 2023. Supported by a strong operating cash flow of SEK 2,0 b the net debt to EBITDA leverage ratio improved to 2.9x (3.2x).

Organic net sales declined 8 percent, compared to a decline of 12 percent in the first quarter of 2024. While the uncertain market situation is making customers more cautious than before in regard to inventory levels, organic net sales in the Service & Aftermarket sales channel recovered as expected, reaching -1 percent compared to the same quarter last year. Net sales in the Distribution sales channel declined 2 percent organically, a clear improvement compared to the first quarter. This was supported by the Mobile Cooling Solutions segment, in which end-user demand for our products is strong and retailer inventories have fallen. Demand in the OEM (Original Equipment Manufacturer) sales channel remained weak and organic net sales declined 17 percent.

The EBITA margin was 14.0 percent, an improvement compared to 13.7 percent for the same quarter last year, excluding the above mentioned one-time positive effect in the second quarter 2023. The margin improvement was supported by new product launches, sales mix, cost reductions and price management. The Mobile Cooling Solutions segment continues to show strong progress, with an EBITA margin of 12.0 percent, compared to 10.2 percent for the same quarter last yearexcluding the above mentioned one-time positive effect in the second quarter 2023. The Land Vehicles EMEA segment continued to report better margins than the same quarter last year and both the Marine and Land Vehicles APAC segments delivered robust margins despite lower net sales in the OEM sales channel. The margin for the Land Vehicles Americas segment remained negative, but improved compared to the same quarter last year. RV industry production levels in the US remain low, but Service & Aftermarket net sales recovered in the quarter, with a positive impact on segment margin.

We delivered a strong operating cash flow of SEK 1,963 m (2,299) and the net debt to EBITDA leverage ratio improved both sequentially and year-on-year to 2.9x. We expect the net debt to EBITDA leverage ratio to continue trending down during the year, and are committed to achieving our target of around 2.5x.

We are increasing research and development investments in strategic growth areas and we continue to launch new, exciting portable products for outdoor purposes. The product innovation index continues to improve and reached 19 percent (15 percent). Our Mobile Power Solutions global offering is progressing well, and during the quarter we launched PLB15, a powerful lightweight portable battery for outdoor electronic devices such as active coolers. In Mobile Cooling Solutions it is encouraging to see strong demand for our recently launched Igloo active cooling product range. In addition, we are now introducing a new series of Dometic branded active cooling boxes: the Dometic CFX2, a range expansion to our highly successful Dometic CFX3 series.

Long-term trends in the Mobile Living industry are strong, however it is difficult to predict how the current macroeconomic situation and market conditions, including delayed interest rate decreases and changed customer purchasing patterns, will affect the business in the short term. In this high interest rate environment, leading to reduced disposable income, we still anticipate a continued gradual recovery in demand in the Service & Aftermarket and Distribution sales channels. In the OEM sales channel, we foresee continued weak demand short-term.

In a market where the visibility is shorter than normal, we will remain agile and act on the short-term market development, while continuing to relentlessly drive our strategic agenda to deliver on our targets. This includes prioritizing margin expansion and reviewing our existing product portfolio.

Juan Vargues, President and CEO

¹⁾Unless stated otherwise, EBITA refers to EBITA before items affecting comparability.

0 10,000 20,000 30,000 40,000 0 2,000 4,000 6,000 8,000 10,000 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q LTM

NET SALES, SEK M

OP. PROFIT (EBITA) BEFORE I.A.C.

2022 2023 2024

Quarterly Last 12 months (LTM)

OPERATING CASH FLOW, SEK M

FINANCIAL SUMMARY – SECOND QUARTER 2024

Net sales were SEK 7,662 m (8,329), a decrease of -8% compared with the same quarter last year. This comprised -8% organic growth, 0% currency translation and 0% M&A.

Gross profit was SEK 2,171 m (2,334) corresponding to 28.3% (28.0%) of net sales. The improvement was supported by cost reductions, sales mix and price management.

Sales and administrative expenses totaled SEK -967 m (-1,004), impacted by efficiency improvements. Investments in strategic structural growth areas continued and Sales and administrative expenses in percent of net sales increased to 12.6% (12.1%).

Research and development expenses were SEK -149 m (-160) with continued investments in strategic structural growth areas. In addition Research and development expenses of SEK -11 m (-7) were capitalized in the quarter. In total, this corresponds to 2.1% (2.0%) of net sales.

Other operating income and expenses were SEK 15 m (7).

Operating profit (EBITA) before amortization of acquisitionrelated intangible assets and items affecting comparability was SEK 1,069 m (1,177) corresponding to a margin of 14.0% (14.1%). Excluding a one-time positive effect of SEK 33 m in the second quarter 2023, the margin for the second quarter 2023 was 13.7%. The margin improvement was supported by cost reductions, sales mix and price management. The improvement was driven by segments Land Vehicles EMEA, Land Vehicles Americas and Mobile Cooling Solutions.

Amortization of acquisition-related intangible assets were SEK -150 m (-158).

Items affecting comparability totaled SEK -17 m (-35) and were mainly related to cost reduction activitiesin segment Land Vehicles Americas.

Operating profit (EBIT) was SEK 903 m (985). The corresponding margin was 11.8% (11.8%).

Financial items totaled a net amount of SEK -267 m (-260), whereof SEK -214 m (-233) in interest on external bank and bond loans. Other FX revaluations and other items amounted to SEK -69 m (-49) and financial income amounted to SEK 16 m (22).

Taxes totaled SEK -194 m (-190), corresponding to 30% (26%) of profit before tax. Current tax amounted to SEK -304 m (-167) and deferred tax to SEK 111 m (-23). Paid tax was SEK -167 m (-209). The increased tax rate was due to a country mix with more taxable profits in higher tax jurisdictions and non-tax deductible interest costs.

Profit for the period was SEK 443 m (534).

Earnings per share were SEK 1.39 (1.67). Adjusted earnings per share were SEK 1.76 (2.11).

Operating cash flow was SEK 1,963 m (2,299). The deviation, compared to a strong second quarter 2023, was mainly related to less working capital reduction in the second quarter 2024 compared to the second quarter 2023.

During the last 12 months, July 2023 - June 2024, average Core working capital in relation to net sales improved to 30% (34%).

Cash flow was SEK 990 m (2,221). Net cash flow from financing was SEK -818 m (548) including dividend paid SEK -607 m (-415). The net of paid and received interest was SEK -320 m (-258). The cash flow effect from short-term commercial papers was SEK 177 m (-). A SEK 750 m private placement bond was signed and drawn down in the second quarter 2023.

Net cash flow from investments was SEK -74 m (-539) of which SEK 0 m (-418) payments of deferred considerations related to acquisitions completed previous years and SEK -85 m (-122) related to investments in fixed assets.

Significant events after the quarter. An USD loan was amortized by USD 100 m on July 1, 2024.

There have been no other significant events that have impacted the financial reporting after the balance sheet date.

FINANCIAL SUMMARY – FIRST SIX MONTHS ²⁰²⁴

Net sales were SEK 14,188 m (15,618), a decrease of -9% compared with the same period last year. This comprised -10% organic growth, 1% currency translation and 0% M&A.

Operating profit (EBITA) before amortization of acquisition-

related intangible assets and items affecting comparability was SEK 1,838 m (2,024) corresponding to a margin of 13.0% (13.0%). Gross profit in percent of net salesincreased to 28.1% (27.3%). Sales, Administrative as well as Research and development expenses in percent of net sales increased impacted by increased investments in strategic structural growth areas. This was partly offset by efficiency improvements. Excluding a one-time positive effect of SEK 33 m in the second quarter 2023, the margin for the first six months 2023 was 12.7%.

Amortization of acquisition-related intangible assets were SEK -297 m (-312).

Items affecting comparability totaled SEK -28 m (-60) and were mainly related to cost reduction activities in segment Land Vehicles Americas and Land Vehicles EMEA.

Operating profit (EBIT) was SEK 1,514 m (1,652). The corresponding margin improved to 10.7% (10.6%).

Financial items totaled a net amount of SEK -485 m (-456), whereof SEK -433 m (-424) in interest on external bank and bond loans. Other FX revaluations and other items amounted to SEK -88 m (-66) and financial income amounted to SEK 36 m (34).

Taxes totaled SEK -313 m (-327), corresponding to 30% (27%) of profit before tax. Current tax amounted to SEK -435 m (-384) and deferred tax to SEK 122 m (57). Paid tax was SEK -337 m (-408) corresponding to a paid tax rate of 33% (34%). Deferred tax recognized in the balance sheet on tax losses amounts to SEK 428 m of which SEK 72 m has been recognized in the period. The recognition is supported by future utilization based on business and strategic plans.

Profit for the period was SEK 716 m (868).

Earnings per share were SEK 2.24 (2.72). Adjusted earnings per share were SEK 2.96 (3.55).

Operating cash flow was SEK 2,176 m (2,593). The deviation, compared to a strong first half 2023, was mainly related to less working capital reduction in the first half 2024 compared to the first half 2023.

Cash flow was SEK -65 m (2,184). Net cash flow from financing was SEK -1,810 m (419) including dividend paid SEK -607 m (-415). In the period Dometic repaid SEK 1,000 m of a long-term EKN-backed loan maturing in 2025. The net of paid and received interest was SEK -489 m (-372). The cash flow effect from short-term commercial papers was SEK 476 m (-).

Net cash flow from investments was SEK -244 m (-652) of which SEK -103 m (-418) payments of deferred considerations related to acquisitions completed previous years and SEK -151 m (-232) related to investments in fixed assets.

Financial position. In March, 2024, Dometic refinanced part of its credit facilities agreement with its bank group:

-A term loan of USD 333 m previously maturing in 2025, was extended until 2027 with option to extend two times, one year each time, and is amortized by USD 100 m in July 2024.

DOMETIC Q2 REPORT ─ SOLNA, JULY 18, 2024 │ 3 -The RCF was increased by EUR 80 m to EUR 280 m. The credit facilities agreement for the term loan and the RCF wassigned

in March 2024 and came into effect in July 2024. This extendsthe debt maturity profile for Dometic.

In addition, the floating rate term loan of USD 220 m and the RCF were both extended with one year by way of an extension option, both with an option to extend for another year.

Dometic's commercial papers program with a framework of SEK 3,000 m, had SEK 476 m (-) outstanding at the end of the period.

Net debt to EBITDA leverage ratio was 2.9x (3.2x) at the end of the period. Compared to the end of the first quarter 2024 the ratio improved sequentially from 3.0x, supported by a strong operating cash flow. The average maturity of interest-bearing debts was 2.2 years (2.8) at the end of the period.

Return on Operating Capital (RoOC) excluding goodwill and trademarks was 20.9% (18.5%) supported by working capital improvements.

Employees. Number of employees in terms of headcount was 7,533 (8,045) at the end of the period. The reduction was mainly due to efficiency improvements.

FINANCIAL PERFORMANCE BY SEGMENT

	Q2	Q2	Change (%)		YTD	YTD	Change (%)
SEK m	2024	2023	Reported	Organic¹⁾	2024	2023	Reported	Organic¹⁾
Land Vehicles Americas	1,035	1,187	-13%	-13%	1,864	2,207	-16%	-16%
Land Vehicles EMEA	1,810	1,928	-6%	-6%	3,535	3,732	-5%	-6%
Land Vehicles APAC	329	374	-12%	-11%	654	730	-10%	-9%
Marine	1,536	1,862	-18%	-17%	3,037	3,563	-15%	-15%
Mobile Cooling Solutions	2,256	2,244	1%	0%	3,730	3,962	-6%	-7%
Global Ventures	695	733	-5%	-5%	1,369	1,424	-4%	-4%
Net sales	7,662	8,329	-8%	-8%	14,188	15,618	-9%	-10%
Land Vehicles Americas	-12	-29			-107	-127
Land Vehicles EMEA	248	226			454	386
Land Vehicles APAC	98	117			197	226
Marine	359	487			713	951
Mobile Cooling Solutions	270	262			384	382
Global Ventures	105	114			198	206
Operating profit (EBITA²⁾) before i.a.c.³⁾	1,069	1,177			1,838	2,024
Land Vehicles Americas	-1.1%	-2.5%			-5.7%	-5.8%
Land Vehicles EMEA	13.7%	11.7%			12.8%	10.4%
Land Vehicles APAC	29.9%	31.4%			30.1%	30.9%
Marine	23.4%	26.2%			23.5%	26.7%
Mobile Cooling Solutions	12.0%	11.7%			10.3%	9.7%
Global Ventures	15.1%	15.6%			14.5%	14.5%
Operating profit (EBITA) before i.a.c. %	14.0%	14.1%			13.0%	13.0%

¹⁾Net sales growth excluding acquisitions/divestments and currency translation effects.

²⁾Before Amortization of acquisition-related intangible assets.

³⁾See note 4 for Operating profit (EBIT) by segment and note 6 for details on i.a.c. (items affecting comparabilty).

Compared to the restated financials communicated on March 27, 2024, an additional minor adjustment in historic financials for segments Land Vehicles APAC and Land Vehicles EMEA has been performed. On a full year 2023 basis, SEK 43 m in Net sales and SEK 6 m in EBITA before i.a.c. have been transferred from segment Land Vehicles EMEA to segment Land Vehicles APAC. These two segments have also been adjusted accordingly for 2023 by quarter and 2024 Q1. There is no change on the other reporting segments or on Group total. For updated segment financials, see https://www.dometicgroup.com/en-us/investors/financial-reports/restated-financials

SEGMENT LAND VEHICLES AMERICAS

SECOND QUARTER 2024 NET SALES AND OPERATING PROFIT

Segment Land Vehicles Americas reported net sales of SEK 1,035 m (1,187), representing 14% (14%) of Group net sales. Total growth was -13%, of which -13% was organic growth, 0% currency translation and 0% M&A. The organic net sales decline was mainly due to lower net sales in the OEM and Distribution sales channels. This was partly offset by organic net sales growth in the Service & Aftermarket sales channel.

Operating profit (EBITA) before amortization of acquisition-related intangible assets and items affecting comparability was SEK -12 m (-29), corresponding to a margin of -1.1% (-2.5%). A negative impact from lower net sales was more than offset by cost reductions and a sales mix with a higher share of net sales in the Service & Aftermarket sales channel. Items affecting comparability was SEK -14 m (-3), and were related to cost reduction activities in the segment. Operating profit (EBIT) was SEK -43 m (-52), corresponding to a margin of -4.2% (-4.4%).

SEGMENT LAND VEHICLES EMEA

SECOND QUARTER 2024 NET SALES AND OPERATING PROFIT

Segment Land Vehicles EMEA reported net sales of SEK 1,810 m (1,928), representing 24% (23%) of Group net sales. Total growth was -6%, of which -6% was organic growth, 0% currency translation and 0% M&A. The organic net sales decline was mainly due to lower net sales in the OEM sales channel. This was partly offset by organic net sales growth in the Service & Aftermarket sales channel.

Operating profit (EBITA) before amortization of acquisition-related intangible assets and items affecting comparability was SEK 248 m (226), corresponding to a margin of 13.7% (11.7%). A negative impact from lower net sales was more than offset by cost reductions and a sales mix with a higher share of net sales in the Service & Aftermarket sales channel. Operating profit (EBIT) was SEK 234 m (184), corresponding to a margin of 12.9% (9.6%).

SEGMENT LAND VEHICLES APAC

SECOND QUARTER 2024 NET SALES AND OPERATING PROFIT

Segment Land Vehicles APAC reported net sales of SEK 329 m (374), representing 4% (4%) of Group net sales. Total growth was -12%, of which -11% was organic growth, -1% currency translation and 0% M&A. The organic net sales decline was mainly due to lower net sales in the OEM and Service & Aftermarket sales channels. This was partly offset by net sales growth in the Distribution sales channel.

Operating profit (EBITA) before amortization of acquisition-related intangible assets and items affecting comparability was SEK 98 m (117), corresponding to a margin of 29.9% (31.4%). A negative impact from lower net sales was partly offset by cost reductions. Operating profit (EBIT) was SEK 94 m (114), corresponding to a margin of 28.6% (30.5%).

SEGMENT MARINE

SECOND QUARTER 2024 NET SALES AND OPERATING PROFIT

Segment Marine reported net sales of SEK 1,536 m (1,862), representing 20% (22%) of Group net sales. Total growth was -18%, of which -17% was organic growth, -1% currency translation and 0% M&A. The organic net sales decline was mainly due to lower net sales in the OEM sales channel while the Service & Aftermarket sales channel showed a single-digit decline.

Operating profit (EBITA) before amortization of acquisition-related intangible assets and items affecting comparability was SEK 359 m (487), corresponding to a margin of 23.4% (26.2%). A negative impact from lower net sales was partly offset by cost reductions and a sales mix with a higher share of net sales in the Service & Aftermarket sales channel. Operating profit (EBIT) was SEK 310 m (435), corresponding to a margin of 20.2% (23.4%).

SEGMENT MOBILE COOLING SOLUTIONS

SECOND QUARTER 2024 NET SALES AND OPERATING PROFIT

Segment Mobile Cooling Solutions reported net sales of SEK 2,256 m (2,244), representing 29% (27%) of Group net sales. Total growth was 1%, of which 0% was organic growth, 1% currency translation and 0% M&A.

Operating profit (EBITA) before amortization of acquisition-related intangible assets and items affecting comparability was SEK 270 m (262), corresponding to a margin of 12.0% (11.7%). Excluding a one-time positive effect of SEK 33 m in the second quarter 2023, the margin for the second quarter 2023 was 10.2%. The margin improvement was driven by product innovation and cost reductions. Operating profit (EBIT) was SEK 222 m (210), corresponding to a margin of 9.8% (9.4%).

SEGMENT GLOBAL VENTURES

SECOND QUARTER 2024 NET SALES AND OPERATING PROFIT

Segment Global Ventures reported net sales of SEK 695 m (733), representing 9% (9%) of Group net sales. Total growth was -5%, of which -5% was organic growth, 0% currency translation and 0% M&A. The organic net sales decline was mainly due to lower net sales in the Residential business in subsegment Other Global Verticals.

Operating profit (EBITA) before amortization of acquisition-related intangible assets and items affecting comparability was SEK 105 m (114), corresponding to a margin of 15.1% (15.6%). The decline was mainly due to lower net sales. Operating profit (EBIT) was SEK 87 m (93), corresponding to a margin of 12.5% (12.7%).

SUSTAINABILITY UPDATE

Dometic'ssustainability platform is centered around three focus areas: People, Planet, and Governance. These focus areas are strongly supported by Group management and are integrated into daily operations with clear KPIs, targets, and activities. Progress on all defined targets is reported externally through the Annual and Sustainability Report. Additionally, progress on five of the KPIs is reported on a quarterly basis.

The actual results, baseline, and targets in the table below exclude acquisitions made in 2021 and 2022. The process of incorporating acquired companies has begun, and the actual results, including these acquisitions, are included for some KPIs in the text below.

Focus area	KPI	Actual result	Previous year⁽²⁾ Baseline (Year)⁽³⁾		Target (Year)
People	LTIFR	1,9	1,9	2,4 (2021)	<2.0 (2024)
People	Share of female managers	29%	27%	24% (2021)	27% (2024)
Planet	Reduction in CO₂ ton / net sales SEK m⁽¹⁾	-45%	-43%	2,0 (2020)	-30% (2024)
Planet	Product Innovation index	19%	15%	n/a	25% (n/a)
Governance	Share of new suppliers being ESG audited	94%	100%	n/a	>90% (2024)

¹⁾Adjusted for acquisitions and currency translation effects.

²⁾ Previous year refers to actual results for the same reporting period previous year. Female managers for Q2 2023 has been corrected from 26% to 27%.

³⁾Baseline refers to actual results (and year) used as starting point for Dometic's targets.

LTIFR (Lost Time Injury Frequency Rate). LTIFR was 1.9 (1.9), better than the target of 2.0 and equal to last year. The actual number of injuries have decreased compared to the previous year. Injury prevention continues within the organization with an aim of learning from past accidents, improving routines, promoting an open dialogue and reporting climate. Including acquisitions made in 2021 and 2022, the actual result was 1.6.

Share of female managers. The share of female managers has increased to 29% (27%). This is a result from the efforts made within the company to promote an equal, fair and inclusive workplace. The work will continue with dedicated commitment and support from the segments with the aim of further increasing the share of female managers within the company. Including acquisitions made in 2021 and 2022, the share of female managers actual result was 29%.

CO2 ton1)/net sales SEK m. Scope 1 and 2 emissions relative to net sales have decreased by 45% (43%), and absolute emissions have decreased by 44%, both compared to the 2020 baseline. These improvements are primarily driven by the increased adoption of renewable electricity (scope 2), which has risen to 40%, up from 6% in 2020, supported by several activities including the installation of solar panels at several sites in 2023. Energy optimization and renewable energy initiatives across all segments remain a priority for further emission reductions.

Product innovation index. Product innovation index has been added to the sustainability KPI table in 2024. Product innovation is a key part of Dometic´s strategy to mitigate climate impact and natural resource consumption. This index offers valuable insights that allow setting goals that prioritize sustainable solutions and investments while maintaining competitive pricing. Energy efficiency remains a top priority, complemented by design solutions such as the use of alternative materials to further minimize the environmental footprint. The Product innovation index has increased to 19% (15%) supported by R&D investments in new products.

Share of new suppliers being ESG audited. Dometic puts strong emphasis on auditing the company's suppliers to ensure that each business partner fully comprehend and adhere to Dometic's sustainability requirements and Code of Conduct. The objective is to ensure that at least 90% of all new significant direct material suppliers undergo ESG compliance audits as part of their onboarding process. In the second quarter of 2024, 94% (100%) of these new significant suppliers were audited for ESG compliance, yielding satisfactory results. The remaining new suppliers are scheduled for audits in the third quarter of 2024.

4) Scope 1 and 2 emissions represented by fuel combustion, electricity and district heating used on operation sites.

PARENT COMPANY DOMETIC GROUP AB (PUBL)

SECOND QUARTER 2024

The Parent Company Dometic Group AB (publ) comprises the functions of the Group's head office, such as Group management and administration. The Parent Company invoices its costs to the Group companies.

Operating profit amounted to SEK 4 m (-5), including administrative expenses of SEK -68 m (-56) and other operating income of SEK 73 m (52), of which the full amount relates to income from Group companies. Net financial expensestotaled SEK 1,901 m (-597) including a dividend of SEK 1,800 (-) from group companies.

Result for the period amounted to SEK 1,906 m (0).

FIRST SIX MONTHS 2024

Operating profit amounted to SEK 5 m (-2), including administrative expenses of SEK -125 m (-107) and other operating income of SEK 130 m (105), of which the full amount relates to income from Group companies. Net financial expensestotaled SEK 1,604 m (-707).

Result for the period amounted to SEK 1,609 m (-4).

SIGNATURES OF THE BOARD OF DIRECTORS

The Board of Directors and the President and CEO certify that the interim report gives a true and fair overview of the Parent Company's and the Group's operations, their financial position and results of operations, and describes the significant risks and uncertainties facing the Parent Company and other companies in the Group.

Solna, July 18, 2024

Fredrik Cappelen Chairman of the Board

Rainer E. Schmückle Board member

Erik Olsson Board member

Mengmeng Du Board member

Juan Vargues President and CEO

REVIEW

This interim report has not been subject to review by the Dometic Group AB (publ)'s external auditor.

Heléne Vibbleus Board member

Jacqueline Hoogerbrugge Board member

Peter Sjölander Board member

Patrik Frisk Board member

CONSOLIDATED INCOME STATEMENT

	Q2	Q2	YTD	YTD	FY
SEK m	2024	2023	2024	2023	2023
Net sales	7,662	8,329	14,188	15,618	27,775
Cost of goods sold	-5,491	-5,995	-10,200	-11,355	-19,994
Gross Profit	2,171	2,334	3,989	4,262	7,781
Sales expenses	-581	-593	-1,121	-1,155	-2,184
Administrative expenses	-386	-411	-753	-798	-1,530
Research and development expenses	-149	-160	-299	-304	-591
Other operating income and expenses	15	7	22	18	-13
Items affecting comparability	-17	-35	-28	-60	-167
Amortization of acquisition-related intangible assets	-150	-158	-297	-312	-613
Operating profit	903	985	1,514	1,652	2,682
Financial income	16	22	36	34	168
Financial expenses	-282	-282	-521	-490	-968
Net financial expenses	-267	-260	-485	-456	-800
Profit before tax	636	725	1,029	1,196	1,883
Taxes	-194	-190	-313	-327	-551
Profit for the period	443	534	716	868	1,332
Profit for the period attributable to owners of the Parent Company	443	534	716	868	1,332
Earnings per share before and after dilution, SEK - Owners of the Parent Company	1.39	1.67	2.24	2.72	4.17
Average number of shares, million	319.5	319.5	319.5	319.5	319.5

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

	Q2	Q2	YTD	YTD	FY
SEK m	2024	2023	2024	2023	2023
Profit for the period	443	534	716	868	1,332
Other comprehensive income
Items that will not be reclassified subsequently to profit or loss: Remeasurements of defined benefit pension plans,
net of tax	11	15	46	17	8
	11	15	46	17	8
Items that may be reclassified subsequently to profit or loss:
Cash flow hedges, net of tax	-7	-21	4	-15	3
Gains/losses from hedges of net investments in foreign operations, net of tax	103	-546	-426	-594	156
Exchange rate differences on translation of foreign operations	-151	2,100	2,077	1,897	-1,507
	-55	1,533	1,655	1,288	-1,348
Other comprehensive income for the period	-44	1,548	1,701	1,305	-1,339
Total comprehensive income for the period attributable to the owner of the Parent Company	399	2,082	2,417	2,173	-7

CONSOLIDATED BALANCE SHEET (IN SUMMARY)

SEK m	Jun 30, 2024	Jun 30, 2023	Mar 31, 2024	Dec 31, 2023
ASSETS
Non-current assets
Goodwill and trademarks	28,343	29,200	28,478	27,035
Other intangible assets	6,889	7,670	7,076	6,821
Tangible assets	2,489	2,597	2,554	2,494
Right-of-use assets	1,996	1,300	2,045	1,955
Deferred tax assets	790	612	765	718
Other non-current assets	175	182	192	181
Total non-current assets	40,683	41,560	41,110	39,204
Current assets
Inventories	6,742	8,418	7,700	7,327
Trade receivables	3,843	4,259	3,630	2,311
Current tax assets	80	124	168	127
Derivatives, current	6	160	49	21
Other current receivables	446	555	436	533
Prepaid expenses and accrued income	203	257	221	248
Cash and cash equivalents	4,326	6,614	3,347	4,348
Total current assets	15,647	20,387	15,551	14,915
TOTAL ASSETS	56,330	61,947	56,661	54,119
EQUITY AND LIABILITIES
EQUITY	27,802	28,173	28,010	25,992
LIABILITIES
Non-current liabilities
Long-term borrowings	13,874	17,284	16,006	16,335
Deferred tax liabilities	3,013	3,211	3,098	2,952
Other non-current liabilities	0	55	0	-
Leasing liabilities, non-current	1,731	1,036	1,767	1,716
Provisions for pensions	487	537	503	517
Other provisions, non-current	242	234	248	237
Total non-current liabilities	19,347	22,356	21,621	21,755
Current liabilities
Short-term borrowings	2,471	3,542	299	-
Trade payables	2,882	3,104	2,948	2,568
Current tax liabilities	195	296	143	160
Advance payments from customers	29	49	40	37
Leasing liabilities, current	444	398	448	388
Derivatives, current	23	112	32	134
Other provision, current	435	581	400	412
Other current liabilities	1,176	1,655	1,230	1,266
Accrued expenses and prepaid income	1,528	1,680	1,490	1,407
Total current liabilities	9,183	11,418	7,030	6,372
TOTAL LIABILITIES	28,529	33,774	28,651	28,128
TOTAL EQUITY AND LIABILITIES	56,330	61,947	56,661	54,119

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (IN SUMMARY)

	YTD	YTD	FY
SEK m	2024	2023	2023
Opening balance for the period	25,992	26,415	26,415
Profit for the period	716	868	1,332
Other comprehensive income for the period	1,701	1,305	-1,339
Total comprehensive income for the period	2,417	2,173	-7
Transactions with owners
Dividend paid to shareholders of the Parent Company	-607	-415	-415
Total transactions with owners	-607	-415	-415
Closing balance for the period	27,802	28,173	25,992

CONSOLIDATED STATEMENT OF CASH FLOW

	Q2	Q2	YTD	YTD	FY
SEK m	2024	2023	2024	2023	2023
Cash flow from operating activities
Operating profit	903	985	1,514	1,652	2,682
Adjustment for non-cash items
Depreciation and amortization	382	384	765	749	1,525
Other non-cash items	-37	189	47	221	-13
Changes in working capital
Changes in inventories	902	1,005	941	1,312	1,826
Changes in trade receivables	-249	-33	-1,437	-1,266	444
Changes in trade payables	-39	-57	212	17	-328
Changes in other working capital	187	-51	286	140	-304
Income tax paid	-167	-209	-337	-408	-979
Net cash flow from operations	1,881	2,212	1,990	2,417	4,854
Cash flow from investments
Acquisition of operations, net of cash acquired	-	-418	-103	-418	-539
Investments in fixed assets	-85	-122	-151	-232	-628
Proceeds from sale of fixed assets	0	-	1	1	7
Other investing activities	11	1	9	-3	-5
Net cash flow from investments	-74	-539	-244	-652	-1,165
Cash flow from financing
Raised long-term borrowings	-	3,478	-	3,478	3,478
Repayment of long-term borrowings	-	-2,172	-1,000	-2,172	-5,754
Changes in short-term borrowings	177	-	476	-	-
Payment of lease liabilities related to lease agreements	-92	-87	-177	-175	-355
Paid interest	-330	-284	-513	-402	-922
Received interest	10	26	24	30	160
Other financing activities	24	1	-13	74	123
Dividend paid to shareholders of the Parent Company	-607	-415	-607	-415	-415
Net cash flow from financing	-818	548	-1,810	419	-3,685
Cash flow for the period	990	2,221	-65	2,184	4
Cash and cash equivalents at beginning of period	3,347	4,356	4,348	4,399	4,399
Exchange differences on cash and cash equivalents	-10	37	43	31	-55
Cash and cash equivalents at end of period	4,326	6,614	4,326	6,614	4,348

PARENT COMPANY INCOME STATEMENT

	Q2	Q2	YTD	YTD	FY
SEK m	2024	2023	2024	2023	2023
Administrative expenses	-68	-56	-125	-107	-235
Other operating income	73	52	130	105	229
Operating profit	4	-5	5	-2	-6
Interest income from Group companies	218	220	408	423	855
Result from participation in group companies	1,800	-	1,800	-	-
Other financial income and expenses	-117	-817	-604	-1,129	-1,198
Net financial expenses	1,901	-597	1,604	-707	-343
Group contributions	-	602	-	709	-
Result before tax	1,906	0	1,609	-0	-349
Taxes	-	-	0	-4	29
Result for the period	1,906	0	1,609	-4	-320
Other comprehensive income	-	-	-	-	-
Total comprehensive income	1,906	0	1,609	-4	-320

PARENT COMPANY BALANCE SHEET (IN SUMMARY)

SEK m	Jun 30, 2024	Jun 30, 2023	Mar 31, 2024	Dec 31, 2023
ASSETS
Non-current assets
Shares in subsidiaries	16,228	16,228	16,228	16,228
Other non-current assets	8,286	4,916	6,527	6,123
Total non-current assets	24,514	21,144	22,755	22,351
Current assets
Current assets	4,552	11,809	5,054	5,740
Total current assets	4,552	11,809	5,054	5,740
TOTAL ASSETS	29,065	32,953	27,810	28,091
EQUITY	12,327	11,640	11,028	11,325
PROVISIONS
Provisions	102	92	102	107
Total provisions	102	92	102	107
LIABILITIES
Non-current liabilities
Non-current liabilities	13,874	17,284	16,006	16,335
Total non-current liabilities	13,874	17,284	16,006	16,335
Current liabilities
Current liabilities	2,763	3,937	674	324
Total current liabilities	2,763	3,937	674	324
TOTAL LIABILITIES	16,739	21,313	16,781	16,766
TOTAL EQUITY AND LIABILITIES	29,065	32,953	27,810	28,091

CONDENSED NOTES

NOTE 1 | ACCOUNTING PRINCIPLES

Dometic Group AB (publ) and its subsidiaries (together "the Dometic Group", "Dometic" or "the Group") applies International Financial Reporting Standards (IFRS), as endorsed by the European Union. This consolidated Interim Financial Report has been prepared in accordance with IAS 34 'Interim Financial Reporting'.

The accounting and valuation principles in this interim report correspond to principles applied by the Group in the 2023 Annual and Sustainability Report and should be read in conjunction with that Annual and Sustainability Report, available at www.dometicgroup.com.

The Swedish Annual Accounts Act and RFR 2 Accounting for Legal Entities, issued by the Swedish Financial Reporting Board, have been applied for the Parent Company. The interim report comprises pages 1– 20 and pages 1–13 are thus an integral part of this financial report (IAS 34.16A).

Totals quoted in tables and statements may not always be the exact sum of the individual items because of rounding differences. The aim is for each line item to correspond to its source, and rounding differences may therefore arise.

New or amended accounting policies for 2024 adopted by the group

A detailed description of the accounting and valuation principles for new or amended accounting policies for 2024 applied by the Group in this interim report can be found in Note 2.1.1 Changes in accounting policies, New or amended accounting policies for 2024, of the 2023 Annual and Sustainability Report available at www.dometicgroup.com.

NOTE 2 | RISKS AND UNCERTAINTIES

Risks are part of any business and as a global Group with production and distribution all over the world Dometic faces risks that can impact its ability to achieve established strategic and other objectives, including financial targets. Effective risk management of strategic, execution, compliance & regulatory and reporting risks creates opportunities and effective risk mitigation. Dometic's risks and risk management are described on pages 60- 64 and on pages 89-92 in the 2023 Annual and Sustainability Report, available at www.dometicgroup.com.

As communicated before, ACON, the seller of Igloo, has filed a lawsuit against Dometic in the fourth quarter 2022, making certain claims related to the Stock Purchase Agreement ("SPA"). Dometic is confident that the lawsuit lacks any merit, is vehemently contesting this lawsuit and has filed counterclaims against ACON related to its conduct under, and non-compliance with, the SPA. The parties are currently involved in the discovery process and trial is expected to take place in the first quarter, 2025.

NOTE 3 | FINANCIAL INSTRUMENTS

Dometic uses currency forward contracts to hedge part of its cash exposure as well as its exposure to forecasted purchases and sales in foreign currency.

The fair values of Dometic's derivative assets and liabilities were SEK 6 m (160) and SEK 23 m (112). The value of derivatives is based on published prices in an active market. No transfers between levels of the fair value hierarchy have occurred during the period.

For financial assets and liabilities other than derivatives, fair value is assumed to be equal to the carrying amount.

	Balance sheet carrying amount	Financial instruments at amortized cost	Financial instruments at fair value	Derivatives used for hedging
Jun 30, 2024
Per category
Derivatives	6	-	3	3
Financial assets	8,790	8,790	-	-
Total financial assets	8,796	8,790	3	3
Derivatives	23	-	10	13
Financial liabilities	20,403	19,567	836	-
Total financial liabilities	20,426	19,567	847	13

NOTE 4 | SEGMENT INFORMATION

As communicated on March 27, 2024, all comparative periods have been restated according to the new segment reporting structure. Disclosures of segment information in Note 4 (see next page) has been restated accordingly.

Compared to the restated financials communicated on March 27, 2024, an additional minor adjustment in historic financials for segments Land Vehicles APAC and Land Vehicles EMEA has been performed. On a full year 2023 basis, SEK 43 m in Net sales and SEK 6 m in EBITA before i.a.c. have been transferred from segment Land Vehicles EMEA to segment Land Vehicles APAC. These two segments have also been adjusted accordingly for 2023 by quarter and 2024 Q1. There is no change on the other reporting segments or on Group total. For updated segment financials, see https://www.dometicgroup.com/enus/investors/financial-reports/restated-financials

SEGMENT INFORMATION

	Q2	Q2	YTD	YTD	FY
SEK m	2024	2023	2024	2023	2023
Land Vehicles Americas	1,035	1,187	1,864	2,207	4,206
Land Vehicles EMEA	1,810	1,928	3,535	3,732	6,739
Land Vehicles APAC	329	374	654	730	1,478
Marine	1,536	1,862	3,037	3,563	6,492
Mobile Cooling Solutions	2,256	2,244	3,730	3,962	6,243
Global Ventures	695	733	1,369	1,424	2,616
Total Net sales, external	7,662	8,329	14,188	15,618	27,775
Land Vehicles Americas	-12	-29	-107	-127	-158
Land Vehicles EMEA	248	226	454	386	625
Land Vehicles APAC	98	117	197	226	454
Marine	359	487	713	951	1,626
Mobile Cooling Solutions	270	262	384	382	547
Global Ventures	105	114	198	206	369
Total Operating profit (EBITA) before items affecting comparability
	1,069	1,177	1,838	2,024	3,463
Land Vehicles Americas	-1,1%	-2,5%	-5,7%	-5,8%	-3,8%
Land Vehicles EMEA	13,7%	11,7%	12,8%	10,4%	9,3%
Land Vehicles APAC	29,9%	31,4%	30,1%	30,9%	30,7%
Marine	23,4%	26,2%	23,5%	26,7%	25,0%
Mobile Cooling Solutions	12,0%	11,7%	10,3%	9,7%	8,8%
Global Ventures	15,1%	15,6%	14,5%	14,5%	14,1%
Total Operating profit (EBITA) before items affecting comparability %	14,0%	14,1%	13,0%	13,0%	12,5%
Land Vehicles Americas	-18	-19	-35	-39	-75
Land Vehicles EMEA	-14	-16	-28	-31	-60
Land Vehicles APAC	-2	-2	-5	-5	-10
Marine	-50	-52	-99	-100	-199
Mobile Cooling Solutions	-48	-48	-94	-93	-189
Global Ventures	-18	-21	-36	-44	-81
Total Amortization of acqusition-related intangible assets	-150	-158	-297	-312	-613
Land Vehicles Americas	-14	-3	-17	-4	-11
Land Vehicles EMEA	0	-26	-6	-44	-131
Land Vehicles APAC	-2	-1	-3	-3	-4
Marine	-	-	-	-	0
Mobile Cooling Solutions	-1	-5	-2	-10	-22
Global Ventures	-	-	-	-	-
Total Items affecting comparability	-17	-35	-28	-60	-167
Land Vehicles Americas	-43	-52	-159	-170	-244
Land Vehicles EMEA	234	184	420	312	435
Land Vehicles APAC	94	114	190	218	441
Marine	310	435	613	850	1,427
Mobile Cooling Solutions	222	210	287	280	336
Global Ventures	87	93	162	162	289
Total Operating profit (EBIT)	903	985	1,514	1,652	2,682
Land Vehicles Americas	-4,2%	-4,4%	-8,5%	-7,7%	-5,8%
Land Vehicles EMEA	12,9%	9,6%	11,9%	8,4%	6,4%
Land Vehicles APAC	28,6%	30,5%	29,0%	29,9%	29,8%
Marine	20,2%	23,4%	20,2%	23,9%	22,0%
Mobile Cooling Solutions	9,8%	9,4%	7,7%	7,1%	5,4%
Global Ventures	12,5%	12,7%	11,9%	11,4%	11,0%
Total Operating profit (EBIT) %
	11,8%	11,8%	10,7%	10,6%	9,7%
Financial income	16	22	36	34	168
Financial expenses	-282	-282	-521	-490	-968
Taxes	-194	-190	-313	-327	-551
Profit for the period	443	534	716	868	1,332

Inter-segment sales

	Q2	Q2	YTD	YTD	FY
SEK m	2024	2023	2024	2023	2023
Land Vehicles Americas	148	48	239	114	213
Land Vehicles EMEA	141	55	208	123	236
Land Vehicles APAC	601	737	1,302	1,306	2,457
Marine	27	10	43	20	31
Mobile Cooling Solutions	29	-	29	-	-
Global Ventures	4	-	4	-	-
Total eliminations	951	851	1,825	1,563	2,937

NOTE 5 | NET SALES BY SALES CHANNEL

	Q2	Q2	Change (%)		YTD	YTD	Change (%)
SEK m	2024	2023	Reported	Organic¹⁾	2024	2023	Reported	Organic¹⁾
OEM	2,701	3,279	-18%	-17%	5,518	6,450	-14%	-15%
Distribution	2,809	2,868	-2%	-2%	4,741	5,058	-6%	-7%
Service & Aftermarket	2,151	2,181	-1%	-1%	3,929	4,110	-4%	-5%
Total net sales, external	7,662	8,329	-8%	-8%	14,188	15,618	-9%	-10%

¹⁾Net sales growth excluding acquisitions / divestments and currency translation effects.

NOTE 6 | ITEMS AFFECTING COMPARABILITY

	Q2	Q2	YTD	YTD	FY
SEK m	2024	2023	2024	2023	2023
Global restructuring program	-	-31	-	-49	-142
Other	-17	-4	-28	-11	-25
Total	-17	-35	-28	-60	-167

Specification of items affecting comparability by function and other operating income and expenses

Global restructuring program	Q2	Q2	YTD	YTD	FY
SEK m	2024	2023	2024	2023	2023
Cost of goods sold	-	-30	-	-45	-107
Sales expenses	-	2	-	-2	-27
Administrative expenses	-	-	-	-	-5
Research and development expenses	-	-	-	-	-0
Other operating income and expenses	-	-3	-	-3	-2
Total	-	-31	-	-49	-142
Other	Q2	Q2	YTD	YTD	FY
SEK m	2024	2023	2024	2023	2023
Cost of goods sold	-16	-	-24	-	-1
Sales expenses	0	1	1	1	3
Administrative expenses	-0	-	-1	-	-
Research and development expenses	-	-	-	-	-
Other operating income and expenses	-1	-5	-4	-12	-28
Total	-17	-4	-28	-11	-25
Total	Q2	Q2	YTD	YTD	FY
SEK m	2024	2023	2024	2023	2023
Cost of goods sold	-16	-30	-24	-45	-108
Sales expenses	0	3	1	-1	-24
Administrative expenses	-0	-	-1	-	-5
Research and development expenses	-	-	-	-	-0
Other operating income and expenses	-1	-8	-4	-15	-30
Total	-17	-35	-28	-60	-167

NOTE 7 | AMORTIZATION OF ACQUISITION-RELATED INTANGIBLE ASSETS BY FUNCTION

Specification of amortization of acquisition-related intangible assets by function and other operating income and expenses.

			Amortization of
			Customer		Amortization of
		Amortization	Relationship	Amortization of	Intellectual
SEK m		Trademarks	Assets	Technology	Property	Total
Cost of goods sold
Q2	2024	-	-	-18	0	-18
Q2	2023	-	-	-18	-3	-21
YTD	2024	-	-	-37	-1	-37
YTD	2023	-	-	-36	-3	-40
FY	2023	-	-	-73	-3	-77
Sales expenses
Q2	2024	-14	-118	-	-	-131
Q2	2023	-20	-117	-	-	-137
YTD	2024	-27	-232	-	-	-260
YTD	2023	-43	-229	-	-	-272
FY	2023	-71	-465	-	-	-537
Total Amortization of acquisition-related intangible assets
Q2	2024	-14	-118	-18	0	-150
Q2	2023	-20	-117	-18	-3	-158
YTD	2024	-27	-232	-37	-1	-297
YTD	2023	-43	-229	-36	-3	-312
FY	2023	-71	-465	-73	-3	-613

NOTE 8 | ADJUSTED EARNINGS PER SHARE

Specification of Adjusted earnings per share. Adjusted earnings per share excludes the impact from amortization of acquisition-related intangible assets and items affecting comparability.

	Q2	Q2	YTD	YTD	FY
SEK m	2024	2023	2024	2023	2023
Profit before tax, reported	636	725	1,029	1,196	1,883
A) Adjustment for amortization of acquisition-related intangible assets	150	158	297	312	613
B) Adjustment for items affecting comparability	17	35	28	60	167
Profit before tax, adjusted	803	918	1,353	1,568	2,663
Taxes, reported	-194	-190	-313	-327	-551
Taxes, adjustment for A) and B)	-48	-54	-94	-107	-218
Profit for the period, adjusted	561	673	947	1,134	1,895
Average number of shares, million	319.5	319.5	319.5	319.5	319.5
Earnings per share, adjusted	1.76	2.11	2.96	3.55	5.93

NOTE 9 | NET DEBT TO EBITDA LEVERAGE RATIO

Specification of Net debt to EBITDA leverage ratio.

SEK m	Jun 30, 2024	Jun 30, 2023	Mar 31, 2024	Dec 31, 2023
Long-term borrowings	13,874	17,284	16,006	16,335
Short-term borrowings	2,471	3,542	299	-0
Add back capitalized transaction costs	41	53	38	43
Borrowings excluding capitalized transaction costs	16,386	20,879	16,343	16,377
Total cash and cash equivalents	-4,326	-6,614	-3,347	-4,348
Net Debt*	12,060	14,265	12,996	12,029
EBITDA before items affecting comparability (i.a.c) LTM	4,221	4,415	4,321	4,374
EBITDA Acquisitions proforma LTM	-	-	-	-
EBITDA before i.a.c. incl acquisitions proforma LTM	4,221	4,415	4,321	4,374
Net debt to EBITDA leverage ratio	2,9x	3,2x	3.0x	2,7x

*Net debt excluding provision for pension and accrued interest

NOTE 10 | RIGHT-OF-USE ASSETS

Right-of-use assets information is specified below:

Depreciation & amortization	Q2	Q2	YTD	YTD	FY
SEK m	2024	2023	2024	2023	2023
Depreciation and amortization	-382	-384	-765	-749	-1,525
Add back depreciation related to right-of use assets	100	95	198	183	381
Total	-283	-289	-567	-566	-1,143

Right-of-use assets

SEK m	Jun 30, 2024	Jun 30, 2023	Dec 31, 2023
Buildings	1,917	1,234	1,902
Machinery, equipment and other technical installations	79	66	53
Total	1,996	1,300	1,955

NOTE 11 | TRANSACTIONS WITH RELATED PARTIES

No transactions between Dometic and related parties that have significantly affected the company's position and earnings took place during the first six months 2024.

NOTE 12 | ACQUISITIONS AND DIVESTMENTS

Dometic has not made any acquisitions or divestments during the first six months 2024.

Effect on group cash flow

The cash flow effect from paid deferred considerations is classified within Cash flow from investments on row "Acquisition of operations, net of cash acquired". Cash flow effects from paid deferred consideration on previous acquisitions amounted SEK -103 m (-418) during the first six months 2024.

NOTE 13 | SIGNIFICANT EVENTS AFTER THE PERIOD

An USD loan was amortized by USD 100 m on July 1, 2024.

There have been no other significant events that have impacted the financial reporting after the balance sheet date.

RECONCILIATION OF NON-IFRS MEASURES TO IFRS (ALTERNATIVE PERFORMANCE MEASURES)

Dometic presents some financial measures in this interim report, which are not defined by IFRS. Dometic believes that these measures provide valuable additional information to investors and management for evaluating the Group's financial performance, financial position and trends in the operations. It should be noted that these measures, as defined, may not be comparable to similarly titled measures used by other companies. These non-IFRS measures should not be considered as substitutes for financial reporting measures prepared in accordance with IFRS. See www.dometicgroup.com for the detailed reconciliation.

Adjusted earnings per share	Net profit for the period, excluding the impact from amortization of acquisition-related intangible assets and items affecting comparability, divided by average number of shares. See note 8.
Average maturity of interest bearing debts	Interest-bearing debts excluding provisions for pensions and capitalized transaction costs divided by the number of outstanding days until maturity.
Core working capital	Consists of inventories and trade receivables less trade payables.
Core work. capital/net sales	Average core working capital from the previous four quarters divided by the last 12 months rolling net sales.
EBITDA and EBITDA margin	Operating profit (EBIT) before Depreciation and Amortization. Depreciation also includes depreciation of right-of-use assets in accordance with IFRS 16 Leases, divided by net sales gives corresponding margin.
EBITA and EBITA margin	Operating profit (EBIT) before Amortization of acquisition-related intangible assets, divided by net sales equals the margin.
EBITA bef i.a.c. and EBITA bef i.a.c. margin	Operating profit (EBIT) before Amortization of acquisition-related intangible assets and items affecting comparability, divided by net sales gives corresponding margin.
Net debt	Total borrowings incl provisions for pensions, accrued interest & capitalized transaction costs, less cash and cash equivalents.
Net debt to EBITDA leverage ratio	Net debt excluding provisions for pensions, accrued interest and capitalized transaction costs in relation to last twelve months EBITDA before items affecting comparability and including acquisitions proforma. Any cash deposits with tax authorities are treated as cash in the leverage calculation. See note 9.
Operating cash flow	Cash flow from operations after investments in fixed assets excluding income tax paid. Paid interest/received interest is part of net cash flow from financing.
Organic growth	Net sales growth excluding acquisitions/divestments and currency translation effects. Quarters are calculated at comparable currency, applying the latest period average rate.
RoOC – Return on Operating Capital	Operating profit (EBIT) for the four previous quarters, divided by the average operating capital for the previous four quarters, excluding goodwill and trademarks.

DEFINITIONS AND KEY RATIOS

CO2 ton / net sales SEK m	CO2 emissions from own operations (scope 1 and 2) divided by currency adjusted net sales. Rolling 12 months with one month delay in reporting. Excl. acquisitions made 2021 and 2022. Scope 1: direct emissions from sources such as emissions from natural gas combustion in the operations of Group's manufacturing and production sites. Scope 2: indirect emissions from purchased electricity and district heating for offices, dormitories, manufacturing sites and distribution centers.
CPV	Commercial and Passenger Vehicles.
Earnings per share ("EPS")	Net profit for the period divided by average number of shares.
FY 2023	Full Year. January to December 2023 for Income statement.
i.a.c. – items affecting comparability	Items affecting comparability are events or transactions with significant financial effects, which are relevant for understanding the financial performance when comparing profit for the current period with previous periods. Items included are for example restructuring programs, expenses related to major revaluations, gains and losses from acquisitions or disposals of subsidiaries, or transaction costs related to major mergers and acquisitions.
Interest-bearing debt	Total borrowings (including capitalized transaction costs) and provisions for pensions.
LTIFR	Lost Time Injury Frequency Rate. Work related accidents with lost time >=1 day per million working hours. Rolling twelve months with 1 months delay in reporting. Excludes acquisitions made in 2021 and 2022.
LTM	Last twelve months.
OEM	Original Equipment Manufacturers.
Operating capital	Interest-bearing debt plus equity less cash and cash equivalents.
Operating capital excluding goodwill and trademarks	Interest-bearing debt plus equity less cash and cash equivalents, excluding goodwill and trademarks.
Operating profit (EBIT) and corresponding margin	Operating profit (EBIT) before financial items and taxes. Divided by net sales gives corresponding margin.
Product innovation index	Share of net sales last 12 months from products launched past three years.
Q2 2024 and Q2 2023	April to June 2024 and 2023 for Income Statement.
RV	Recreational Vehicles.
Share of female managers	Percentage of female managers in the company at the end of each period. Excludes acquisitions made in 2021 and 2022.
Share of new suppliers being ESG audited	Percentage of new significant direct material suppliers that have been ESG audited (on-site, remote or 3rd party audits), with one month delay in reporting. Measuring period to be included as a new supplier is January 1, 2022 until end of 2024. Excludes acquisitions made in 2021 and 2022.
Working capital	Core working capital plus other current assets less other current liabilities and provisions relating to operations.
YTD 2024 and 2023	January-June 2024 and 2023 for Income Statement

PRESENTATION OF THE REPORT

Analysts and media are invited to participate in a telephone conference at 10.00 (CEST), July 18 , 2024, during which President and CEO, Juan Vargues and CFO, Stefan Fristedt, 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. The webcast URL and presentation are available at www.dometicgroup.com.

Webcast link:

https://dometic.videosync.fi/2024-07-18-q2-2024/register

TO PARTICIPATE IN CONFERENCE CALL TO ASK QUESTIONS

Those who wish to participate in the conference call to ask questions in connection with the webcast are welcome to register on the link below. After the registration you will be provided phone numbers and a conference ID to access the conference.

Registration link:

https://service.flikmedia.se/teleconference/?id=5001741

FOR FURTHER INFORMATION, PLEASE CONTACT

Rikard Tunedal

Head of Investor Relations Phone: +46 730 56 97 35 E-mail: rikard.tunedal@dometic.com

Dometic Group AB (publ)

Hemvärnsgatan 15 SE-171 54 Solna, Sweden Phone: +46 8 501 025 00 www.dometicgroup.com Corporate registration number 556829-4390

This information is information that Dometic Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CEST on July 18, 2024.

This document is a translation of the Swedish version of the interim report. In the event of any discrepancy, the Swedish wording shall prevail.

ABOUT DOMETIC

Dometic is a global market leader in the mobile living industry. Millions of people around the world use Dometic products in Outdoor, Residential, and Professional applications. Our motivation is to create smart, sustainable, and reliable products with outstanding design for an outdoor and mobile lifestyle in the areas of Food & Beverage, Climate, Power & Control, and Other Applications. Dometic employs approximately 8,000 people worldwide, had net sales of SEK 27.8 billion in 2023 and is headquartered in Solna, Sweden.

DISCLAIMER

Some statements herein are forward-looking and the actual outcome could be materially different. In addition to the factors explicitly commented upon, the actual outcome could be materially affected by other factors, (a) changes in economic, market and competitive conditions, (b) success of business and operating initiatives, (c) changes in the regulatory environment and other government actions, (d) fluctuations in exchange rates and (e) business risk management.

FINANCIAL CALENDAR

October 23, 2024 January 29, 2025

Interim report for the third quarter 2024 Q4 and full year 2024 report