Slide 1: MIPS' presentation of the Q3 interim report 2020
6 NOVEMBER 2020 MIPS’ presentation of the Q3 interim report 2020
Slide 2: Key highlights
Key highlights • Strong performance in the quarter with 94% net sales growth (108% organic) • Continued high customer interaction with large amount of new projects • Launch of Team MIPS, first athlete out is Henrik Harlaut • Good consumer demand, mainly driven by bike helmets. Good growth anticipate
Slide 3: Bike – Strong demand for MIPS
Bike – Strong demand for MIPS • High demand for MIPS solutions in bike helmets • We do expect the high demand situation to carry over to 2021 • Increase both in bike helmets for commuting and recreational use all over the world • Historically bike helmet volumes have been concentrated at Q3 and Q4,
Slide 4: Snow – Recovered, but still soft numbers
Snow – Recovered, but still soft numbers • Improvement in sales to ski helmet manufacturers in the quarter, mainly relating to the late orders due to the pandemic situation • The uncertainty of winter holiday season remains - Booking situation at ski resorts has improved vs. last quarter - Infrastru
Slide 5: Moto – Strong sales in the quarter
Moto – Strong sales in the quarter • Strong sales, volumes improved vs. previous quarter, as communicated before • Similar trend in Moto as in bike, but not to the same magnitude • More brands launching MIPS. Demand is supported by the implementation of new standard (ECE 22.06), which includes rotat
Slide 6: Safety – Lined up for a good 2021
Safety – Lined up for a good 2021 • Good interest in Safety category from both helmet manufacturers and construction companies • Intensified debate and media attention around work related injuries with focus on brain traumas • We only announce new brands when first orders are delivered • Increased i
Slide 7: Launch of Team MIPS
Launch of Team MIPS • MIPS should be the obvious choice when buying a helmet • Key strategic initiative to increase awareness of the MIPS brand • Revision of brand platform done; several activities being rolled out, one of them is to create a Team MIPS with Mips ambassadors • Henrik Harlaut, the mos
Slide 8: Development in our different categories
Development in our different categories SPORTS MOTO MOTO SAFETY Third quarter/YTD 2020 Third quarter/YTD 2020 Third quarter/YTD 2020 Revenue, SEKm 96 / 210 Revenue, SEKm 6 / 14 Revenue, SEKm 0/0 Growth, % 91 / 24 Growth, % 142 / 24 Growth, % -/- No. of brands 102 (+3) No. of brands 22 (+1) No. of br
Slide 9: Development in the third quarter
Development in the third quarter • Net Sales increased by 94%, organic growth was 108% Organic • Gross profit up 91%, gross margin down 80 bps to 72.2% growth • OPEX – continue to invest in strategic priorities 108% • EBIT was SEK 55m (20), EBIT margin 53.6% (38.6) • Cash flow – strong increase of o
Slide 10: Development first nine months
Development first nine months • Net Sales increased by 24%, organic growth was 27% Organic • Gross profit up 22%, gross margin down 120 bps to 72.5%. Adjusting growth for acquisitions, gross margin down 60 bps to 73.0% • OPEX – continue to invest in strategic priorities 27% • Adjusted EBIT was SEK 9
Slide 11: Balance sheet and cash flow
Balance sheet and cash flow CASH FLOW FROM OPERATING ACTIVITIES • Strong improvement of Cash flow from operating (SEKm) activities with SEK 29m (12) in the quarter 31 29 24 24 23 20 15 • Cash and Cash Equivalents at SEK 233m (176) 12 10 8 8 12 6 6 3 4 0 1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 12: Summary
Summary Net sales and adjusted EBIT-margin 12 • Strong quarter mainly driven by good demand for months rolling 42% bike helmets 350 41% 41% 41% 41% 45% 39% 37% 38% 40% 300 312 34% 35% • The increased demand expected to continue into 250 268 279 26% 263 30% next year, assuming no dramatic change to c
Slide 13: Q&A
Q&A
Slide 14: Disclaimer
DISCLAIMER Important message from MIPS AB This presentation has been prepared by MIPS AB (publ) (the “Company”) solely for use at this presentation and is furnished to you solely for your information and may not be reproduced or redistributed, in whole or in part, to any other person. The presentati