Slide 1: Interim report Q1 January–March 2026
Interim report Q1 JA N UA RY– M A R C H 2 02 6
Slide 2: Q1 2026 – Strong start to the year
Q1 2026 – Strong start to the year • Strong sales momentum across categories and geographies: • +30% growth in the first quarter • Organic growth +25% • Growth in all three categories and key regions • Koroyd acquisition well received in the market • Sales development drives strong profitability gro
Slide 3: Good development in Sports
Good development in Sports • Good quarter with +24% net sales growth in Sports. Adjusting for acquisition and forex organic growth was +28%. Good growth in the European market and positive development in the challenging US market. • Strong performance in bike continues with volume growth for the 10
Slide 4: Continued growth in Moto
Continued growth in Moto • Good performance in Moto with 33% growth in the quarter. Adjusting for acquisitions and forex, organic net sales grew with 16% in the quarter. • Motocross remains key driver but encouraging that the hard work are beginning to show a positive effect in the on-road sub-categ
Slide 5: Strengthening of Safety, driven by Koroyd
Strengthening of Safety, driven by Koroyd • Increased momentum in Safety after a challenging period related to the tariff uncertainty in the US. Net sales growth was +135% in the quarter and adjusting for acquisitions and forex organic net sales growth amounted to +6%. • Substantial reinforcement of
Slide 6: Development in our categories
Development in our categories Sports Q1 Moto Q1 Safety Q1 Revenue SEKm 124 (100) Revenue SEKm 13 (10) Revenue SEKm 14 (6) Growth % 24 Growth % 33 Growth % 135 Organic growth %* 28 Organic growth %* 16 Organic growth %* 6 Q1 Interim report 2026 6 *Organic growth adjusted for exchange rate effects and
Slide 7: Development in the first quarter
Development in the first quarter • Good development in the first quarter with increase in net sales of 30%, net sales increased 25% SEKm Q1 26 Q1 25 organically. Net sales 151 116 +30% • Gross profit increased by 29% with a gross margin of 71.1% (72.1). Gross profit 107 83 +29% • Good underlying imp
Slide 8: Balance sheet and cash flow
Balance sheet and cash flow Mips Group (SEKm) Q1 26 Q1 25 FY 25 • Cash and Cash Equivalents of SEK 180m (214). Total assets 1,307 742 1,307 • RCF loan of SEK 250m. Net debt/adjusted EBITDA Equity 605 647 562 LTM amounted to 0.3x. Equity ratio % 46 87 43 • Operating cash flow in the quarter amounted
Slide 9: Summary
Summary • Good development in the quarter with 30% net sales Net sales SEKm rolling 12 months growth. Organic net sales growth adjusting for acquisitions Operating margin adjusted for items affecting comparability* rolling 12 months and forex was +25%. Growth in all three categories, despite 800 100
Slide 10: Q&A
Q1 Interim report 2026 Q&A 10
Slide 11: 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