Dometic Group AB

What does Dometic own?

Dometic owns a portfolio of brands serving the mobile living market, including Dometic (its flagship brand), WAECO (mobile cooling and air conditioning), SeaStar (marine steering and control systems), Polar (marine air conditioning), Cruise N Comfort (marine climate control), and Zephyr (RV ventilation). The company manufactures products including air conditioners, refrigerators, cooktops, awnings, sanitation systems, and steering systems for RVs, boats, and commercial vehicles.

Is Dometic publicly traded?

Yes. Dometic Group AB trades on Nasdaq Stockholm under the ticker symbol DOM. The company completed its IPO in November 2020, valuing it at approximately SEK 25 billion. EQT, the private equity firm that acquired Dometic from Electrolux in 2001, gradually reduced its stake following the IPO. The company is now widely held by institutional investors.

Who founded Dometic?

Dometic was established as an independent company in 2001 when Electrolux divested its leisure appliances division, selling it to EQT, a Swedish private equity firm. The Dometic brand and product line originated within Electrolux, which introduced the Dometic absorption refrigerator in 1925. The technology was developed for off-grid and mobile applications, making it suitable for RVs and boats. Electrolux itself was founded in 1919 by Axel Wenner-Gren in Stockholm, Sweden.

Where is Dometic headquartered?

Dometic is headquartered in Solna, Sweden, a municipality in the Stockholm metropolitan area. The company maintains manufacturing facilities in the United States, Sweden, Germany, China, Mexico, and Italy. Dometic employs approximately 6,500 people globally and sells its products in approximately 100 countries through OEM, Distribution, and Service and Aftermarket channels.

How many brands does Dometic own?

Dometic owns approximately 10 brands across its three operating segments. The most significant are Dometic (the flagship brand covering the broadest product range), WAECO (mobile cooling and air conditioning, strong in Europe), and SeaStar (marine steering and control systems). Other brands include Polar, Cruise N Comfort, and Zephyr, which serve specific product categories within the mobile living market.

Who owns Dometic?

Dometic is a publicly traded corporation listed on Nasdaq Stockholm. The company is owned by its shareholders, primarily institutional investors. EQT, the private equity firm that acquired Dometic from Electrolux in 2001 and took it public in 2020, has gradually reduced its ownership stake. No single shareholder exercises controlling influence. The board of directors oversees corporate governance and appoints the executive management team, currently led by CEO Juan Vullings.

What is Dometic's revenue?

Dometic reported full year 2025 net sales of SEK 21,042 million (approximately $2.0 billion), down 15% from SEK 24,620 million in 2024. Organic net sales declined 8%, with a 6% negative currency translation impact and a 1% impact from portfolio changes. EBITA before items affecting comparability was SEK 2,234 million, with an EBITA margin of 10.6%. In Q1 2026, net sales were SEK 5,239 million with organic growth of 0%, signaling market stabilization. Free cash flow was SEK 1,445 million in 2025.

Dometic's history begins with the founding of Electrolux in 1919 by Axel Wenner-Gren in Stockholm, Sweden. Electrolux initially sold vacuum cleaners but expanded into refrigeration in the 1920s. In 1925, Electrolux introduced the Dometic absorption refrigerator, which used a gas absorption cooling process rather than a compressor. This technology was ideal for mobile and off-grid applications because it could operate on propane gas or electricity, making it suitable for RVs, boats, and remote locations where electricity was unreliable.

The Dometic absorption refrigerator became a standard feature in recreational vehicles and marine vessels throughout the mid-20th century. Electrolux's leisure appliances division grew alongside the post-war expansion of the RV and boating industries, particularly in North America and Europe. The division supplied refrigerators, air conditioners, and other appliances to major RV manufacturers and boat builders.

In 2001, Electrolux divested its leisure appliances division, selling it to EQT, a Swedish private equity firm. The division was rebranded as Dometic Group and established as an independent company headquartered in Solna, Sweden. The spin-off allowed Dometic to focus exclusively on mobile living products, separate from Electrolux's broader household appliance business.

Under EQT's ownership, Dometic pursued an aggressive acquisition strategy to expand its product portfolio and geographic reach. Key acquisitions included WAECO, a German manufacturer of mobile cooling and air conditioning products, acquired in 2007. WAECO brought compressor-based refrigeration technology and a strong position in the European marine and automotive markets. The acquisition price was not publicly disclosed.

Dometic also acquired SeaStar Solutions (formerly Teleflex Marine) in 2016, adding marine steering systems, controls, and hydraulics to its portfolio. Other acquisitions included Polar Manufacturing (Arctic marine air conditioning), Cruise N Comfort (marine air conditioning), and Zephyr Manufacturing (RV ventilation products). Each acquisition was aimed at expanding Dometic's product range within its core mobile living markets.

In November 2020, Dometic completed its initial public offering on Nasdaq Stockholm, listing under the ticker symbol DOM. The IPO valued the company at approximately SEK 25 billion. EQT retained a significant stake following the IPO but gradually reduced its position.

The company faced significant challenges in 2023 and 2024 as the post-pandemic boom in RV and marine sales reversed. During the COVID-19 pandemic, consumers shifted spending toward outdoor recreation, driving record demand for RVs, boats, and related equipment. Dometic's sales surged. However, as pandemic-era demand normalized and interest rates rose, RV and marine sales declined sharply, creating a downturn that persisted through 2025.

In response to the downturn, Dometic launched a Global Restructuring Program aimed at reducing costs and improving operational efficiency. The program includes facility consolidations, workforce reductions, and portfolio optimization. In Q4 2025, the company reported that the restructuring program contributed to gross margin improvement and operating expense reductions, though the benefits were partially offset by unfavorable currency effects and tariff-related costs in the Mobile Cooling segment.

In Q4 2025, Dometic reported net sales of SEK 4,058 million, down 15% from SEK 4,785 million in Q4 2024. Organic growth was negative 3%, with a 12% negative currency translation impact. EBITA was SEK 245 million, corresponding to a margin of 6.0%, down from 7.3% in Q4 2024. However, on a like-for-like basis adjusting for currency effects, tariff and labor costs, and the prior year's one-time positive duty drawback, the underlying EBITA margin improved by approximately 2.9 percentage points. The company's board proposed a dividend of SEK 1.00 per share for 2025, down from SEK 1.30 for 2024.

In Q1 2026, Dometic reported net sales of SEK 5,239 million, down 10% from SEK 5,830 million, with organic growth of 0%, signaling that the market was approaching stabilization. EBITA before items affecting comparability was SEK 557 million, with a margin of 10.6%, up from 10.4% in Q1 2025. The company noted that the Service and Aftermarket sales channel grew 5% organically, while the OEM sales channel declined 4%.

Dometic publishes an annual sustainability report detailing its environmental and social commitments. The company has set targets for emissions reduction, energy efficiency, and sustainable product design.

On climate, Dometic has committed to science-based emissions reduction targets. The company's products consume energy during use, particularly air conditioners and refrigerators, so product energy efficiency is a key focus area. Dometic has invested in developing more energy-efficient products, including compressor-based refrigeration that consumes less power than traditional absorption technology.

The company's manufacturing operations have a direct environmental impact through energy consumption, waste generation, and emissions. Dometic has implemented environmental management systems at its manufacturing facilities and has set targets for reducing waste and energy use. The Global Restructuring Program includes consolidation of manufacturing facilities, which is expected to reduce the company's overall environmental footprint.

Dometic is not a Certified B Corporation. The company has not sought B Corp certification as of 2025.

On supply chain ethics, Dometic has a supplier code of conduct and conducts audits of its manufacturing supply chain. The company sources components and materials from suppliers in multiple countries, including China, where labor and environmental practices have been scrutinized. Dometic has stated that it requires suppliers to comply with its code of conduct, though the effectiveness of enforcement is difficult to assess independently.

The company has not faced significant greenwashing criticism or regulatory action related to its sustainability claims. Its sustainability reporting focuses on operational efficiency, product energy efficiency, and employee safety, which are standard for an industrial manufacturer.

Dometic has faced relatively limited public controversy, but several issues have drawn attention.

The Global Restructuring Program has involved workforce reductions and facility closures, which have affected employees and communities where Dometic operates. The company has not disclosed the total number of layoffs, but the program has been ongoing since 2024 and has involved manufacturing footprint optimization. Labor unions in Sweden and other European countries have monitored the restructuring, though no major labor disputes have been reported.

Tariff and trade policy has impacted Dometic's Mobile Cooling segment. The company has faced increased costs from tariffs on imported components and materials, particularly at its manufacturing facilities that rely on global supply chains. In Q4 2025, Dometic reported a 30 million SEK negative impact from tariff and labor cost increases in the Mobile Cooling segment. The company has implemented price increases to compensate for tariff costs, though there is a delay between cost increases and price recovery.

Government-mandated wage increases at certain manufacturing locations have increased labor costs and created operational inefficiencies, particularly in the Mobile Cooling segment. The company has also faced challenges related to limited availability of seasonal temporary workers, which has affected production capacity during peak periods.

Dometic has been subject to ongoing tax audits in certain jurisdictions. In Q4 2025, the company made a tax provision related to ongoing tax audits, which negatively impacted the effective tax rate. The company noted that the tax rate is negatively affected by non-deductible interest expenses in Sweden.

The company has not faced major environmental violations, product safety recalls, or regulatory fines as of 2025. Dometic's products are subject to various safety and environmental regulations across the markets it serves, including CE marking in Europe and UL certification in the United States, and the company maintains compliance certifications for its products.