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Dometic Group swings to profit in Q2

Dometic Group AB said its normalized net income for the second quarter came to 208.8 million kronor, compared with a loss of 211.3 million kronor in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 6.5% from negative 8.6% in the year-earlier period.

Total revenue grew 30.7% on an annual basis to 3.20 billion kronor from 2.45 billion kronor, and total operating expenses increased 29.0% from the prior-year period to 2.72 billion kronor from 2.11 billion kronor.

Reported net income came to 198.0 million kronor, compared with a loss of 441.0 million kronor in the year-earlier period.

As of July 17, US$1 was equivalent to 8.63 Swedish kronor.