Slide 1: Mips' presentation of the Year-end Report 2022
Mips’ presentation of the Year-end Report 2022 9 February 2023 1
Slide 2: Key highlights
Key highlights • Net sales in fourth quarter down 46%, adjusting for currency effects organic growth was down 53%. YTD sales decrease 7%. Decline fully explained by soft demand in Bike. • Soft demand in Bike expected to start normalizing during spring. Long term outlook still positive. • Strong dema
Slide 3: Sport: Mixed development with challenging bike end market but a strong snow market
Sport Mixed development with challenging bike end market but a strong snow market • Challenging quarter in Sport with a decrease in net sales of 50%, YTD net sales decrease with 10% • Bike is the main contributor with a decrease in sales by 59% during the quarter. Strong year in snow with 85% growth
Slide 4: Moto: Good progress and first helmet in Moto GP
Moto Good progress and first helmet in Moto GP • Growth of 33% in the quarter, YTD growth 35% • Good development in both on- and off-road helmets • First helmet in Moto GP launched with Kabuto during the quarter • We continue to see good development with existing brands but also significant number o
Slide 5: Safety: Established a strong customer base, will increase volume going forward
Safety Established a strong customer base, will increase volume going forward • In total 11 different brands that have launched partnership with Mips • Organization established to drive awareness and sell through in Safety • Partnership with second global brand Delta Plus announced in beginning of F
Slide 6: Supply chain
Supply chain • Significant Covid outbreak at the end of the year in China however, limited financial impact • Supply chain expected to remain unpredictable coming quarters 2022 I Year-end report 6
Slide 7: New product launches
New product launches • We have ramped up our investments in product development last years and we launched three new technologies during the year. • Air Node was launched with world leading bicycle brand Specialized at Tour de France. It is our lightest solution and will be offered as an after-marke
Slide 8: New Graphic Design
New Graphic Design • As we are an ingredient brand, we want to elevate the products we are integrated in • We have therefore reworked our whole product portfolio with a completely new graphic design • Implementation has started and we will continue the roll out to our customers during 2023 2022 I Ye
Slide 9: Sustainability
Sustainability • 2022 was the year to create a strong platform for our work within sustainability • Our work has been focused around three key areas: • SBTi – where we will report our progress • Signed up for UN Global Compact 10 principles • Offer more Circular product offerings – Recycled material
Slide 10: Development in our categories
CATEGORIES Development in our categories SPORT MOTO SAFETY Sport Q4 YTD Moto Q4 YTD Safety Q4 YTD Revenue SEKm 95 (190) 511 (570) Revenue SEKm 10 (8) 47 (35) Revenue SEKm 3 (1) 4 (3) Growth % -50 -10 Growth % 33 35 Growth % - - 2022 I Year-end report 10
Slide 11: Development in the fourth quarter
FINANCIAL PERFORMANCE Development in the fourth quarter Q4 22 Q4 21 • Soft development in the fourth quarter with a decrease in net sales by 46%, adjusting for FX, sales decreased 53% organically Net sales 107 198 -46% • OPEX – continue to invest in strategic priorities Gross profit 77 145 -47% • Ne
Slide 12: Development for the year
FINANCIAL PERFORMANCE Development for the year YTD YTD • Net sales during the year decreased with 7%, 22 21 adjusting for FX sales decreased 19% organically Net sales 563 608 -7% • OPEX – continue to invest in strategic priorities • EBIT down 30% to SEK 229m (326), EBIT margin Gross profit 406 445 -
Slide 13: Balance sheet and cash flow
Balance sheet Cash flow from operating activities (SEKm) and cash flow • Cash and Cash Equivalents at SEK 532m (450) • Cash flow in the quarter amounted to SEK 47m (81) Mips group (SEKm) Q4 22 Q4 21 FY 22 FY 21 • Dividend of SEK 5.50 (5.00) per share, being proposed. Corresponding to Total assets 76
Slide 14: Summary
Summary • Fourth quarter concludes a challenging but, in many ways, a successful year • Soft bike market expected to remain into spring, lower impact from bike short term due to change of mix • Good outlook in both Safety and Moto in 2023 • Continued investments in our strategic priorities to delive
Slide 15: Q&A
Q&A 2022 I Year-end report 15
Slide 16: Safety for helmets
Safety for helmets 2022 | Year-end repor
Slide 17: 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