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Dometic Group AB (publ) (DOMETIC.ST)

DOMETIC.ST on Stockholm Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Dometic boosts marine business with $875 mln acquisition of SeaStar
Wednesday, 22 Nov 2017 

Nov 22 (Reuters) - Dometic Group AB (Publ) :Dometic acquires SeaStar Solutions, a leading North American-based supplier to the leisure marine industry, from affiliates of American Securities LLC.Says acquisition strengthens and expands Dometic's position as a global supplier to the marine industry through new product areas, and a broader distribution network and market presence.Says ‍cash purchase price of USD 875 million, fully financed via cash and committed bank facilities​.Says ‍sees sales and cost synergies of USD 20 million per annum, fully realized within 3 years​.Says ‍closing expected in Q4 2017, subject to customary conditions and regulatory approval​.Says SeaStar ‍is expected to report sales of USD 320 million and EBITDA of USD 85 million in 2017.SeaStar Solutions is based in North America, operates 8 facilities and employs approximately 1,250 people​.Says ‍Dometic intends to maintain its dividend policy of at least 40 per cent of net profit​.  Full Article

Dometic Q3 EBIT ex-items rises to SEK 482 million ​
Tuesday, 24 Oct 2017 

Oct 24 (Reuters) - DOMETIC GROUP AB (PUBL) :Q3 ‍OPERATING PROFIT (EBIT) BEFORE ITEMS AFFECTING COMPARABILITY AMOUNTED TO SEK 482 MILLION (426)​.Q3 ‍NET SALES FOR QUARTER TOTALED SEK 3,399 MILLION (3,142); AN INCREASE OF 8%, OF WHICH 11% WAS ORGANIC GROWTH​.SAYS ‍WE REMAIN COMMITTED TO OUR FINANCIAL TARGETS AND OUTLOOK FOR OUR BUSINESSES REMAINS UNCHANGED​.  Full Article

Frostbite launches accelerated bookbuilt offer for 20 pct of Dometic
Tuesday, 30 Aug 2016 

Carnegie investment bank ab says Frostbite announces launch of an accelerated bookbuilt offering of up to 59,166,667 existing shares in dometic group : Carnegie investment bank says offer equivalent to up to 20% of share capital and voting rights in company . The bookbuilding will commence immediately and it is anticipated that books will close before market opens on 31 August 2016 . Carnegie Investment Bank AB (publ), SEB Corporate Finance, Skandinaviska Enskilda Banken AB and Jefferies International Limited are acting as Joint Bookrunners in the Transaction. (Reporting By Johan Ahlander) ((johan.ahlander@thomsonreuters.com;)).  Full Article

Dometic Group EBIT ex. items up at SEK 584 million
Friday, 15 Jul 2016 

Dometic Group publ AB : Q2 net sales 3.46 billion Swedish crowns ($407.06 million) versus 3.20 billion crowns year ago . Q2 EBIT ex. items 584 million Swedish crowns versus 484 million crowns year ago .Says global outlook for RV markets remains positive, with Europe showing particularly strong momentum and US continuing its steady development.  Full Article

Dometic : Statement regarding class action complaint filed in US
Monday, 25 Apr 2016 

Dometic Group publ AB:Dometic's opinion is that allegations are without merits and intend to vigorously defend against them.  Full Article

Dometic Group publ AB denies wrongdoing in response to class action lawsuit
Friday, 22 Apr 2016 

Dometic Group publ AB:Received information about a class action lawsuit against American subsidiary Dometic Corporation regarding alleged safety defects in gas driven absorption refrigerators.Says takes this accusation seriously but vehemently denies that company would consciously have refrained from eliminating defects in said product.  Full Article

Dometic Group publ AB - RV Owners Sue Dometic for Dangerous Refrigerator Defect Linked to Explosions and Fires - Associated Press
Friday, 22 Apr 2016 

Dometic Group publ AB:A group of RV owners filed a nationwide class-action lawsuit against Dometic Corporation - Associated Press.Stating that the company sold defective gas absorption refrigerators with cooling systems that can spontaneously ignite in RVs and boats, putting consumers at risk of deadly fires, explosions, loss of property and loss of the value of their RV/boat.according to consumer-rights law firm Hagens Berman.The lawsuit states that the defective refrigerators have caused or contributed to at least 3,000 fires since 1997, resulting in more than $100 million in property damage and personal injury claims, all of which Dometic tracked through multiple non-public, internal databases.Despite this knowledge, Dometic "failed and refused to eliminate the defects and/or provide consumers with adequate warnings," according to the complaint.The 80-page lawsuit filed in the U.S. District Court for the Northern District of California in San Francisco seeks to force Dometic to repair or replace defective refrigerators and compensate consumers for the diminution of value of their RVs and boats as a result of these manufacturer defects.  Full Article

Deals of the day-Mergers and acquisitions

Nov 22 The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday: