“It is encouraging to see top line growth together with a slight recovery in gross margins compared to the first half of the year, despite continued price pressure. We are maintaining our efforts to improve working capital and cash flow was strong in the quarter.
In Europe, the RV (recreational vehicles) markets appear to be stabilizing, despite continued weakness in Southern Europe. The US RV market growth continues, but at lower rate than in earlier quarters.
As previously announced, we acquired Atwood Mobile Products LLC during the quarter, and the transaction was closed on October 17. This acquisition fits very well with our strategy and strengthens our position especially in the North American market.
After the quarter close, we announced two key leadership changes that are intended to strengthen our capability to deliver on our profitable growth plan,” says Dometic Group’s President and CEO, Roger Johansson.