Slide 1: MIPS Q1 presentation
APRIL 28, 2022 MIPS Q1 presentation
Slide 2: Key highlights
Key highlights • Strong start of the year with 65% net sales growth (48% organic) • Good performance in all our three categories • Strong improvement in EBIT, driven by higher sales • Challenging supply chain in the quarter, mainly due to covid- related shutdowns in China. Limited impact on sales •
Slide 3: Sports: bicycle – Good growth in the quarter
Sports: bicycle – Good growth in the quarter • Continued good sales performance in bicycle helmets • Demand mainly in mid and high-end helmets • Capacity in helmet factories is expected to be in balance again in H2 • Retail inventory is expected to normalize by end of Q2, in line with previous commu
Slide 4: Sports: snow – strong start of the year
Sports: snow – strong start of the year • Strong growth in the first quarter. Good consumer sales in all key markets • MIPS continues to outperform the market, with existing and new customers rolling out MIPS technology in a larger part of their assortment • The good demand for snow helmets is expec
Slide 5: Moto – strong performance in the quarter
Moto – strong performance in the quarter • Strong growth in the quarter with 150% growth, partly from new orders but also due to carry over orders from previous year • Several activities launched in retail to strengthen MIPS awareness in Moto • Good consumer demand expected coming quarters 2022 | Q1
Slide 6: Safety – first global top five customer announced
Safety – first global top five customer announced • Continued good development in Safety, with an even higher interest in MIPS in this category • In April we announced our partnership with uvex safety group, one of the global top five Safety brands in the world • In total ten partnerships announced
Slide 7: Challenging supply chain
Challenging supply chain • The supply chain continued to be challenging during the quarter, however limited impact on sales • Key issue during the quarter was covid-related shutdowns in China • Limited impact on increased raw material prices, but longer- term expectation is that we will see cost inf
Slide 8: Development in our different categories
Development in our different categories SPORTS MOTO MOTO SAFETY First quarter First quarter First quarter Revenue, SEKm 125 (78) Revenue, SEKm 11 (4) Revenue, SEKm 1 (1) Growth, % 60 Growth, % 150 Growth, % - No. of brands 133 (109) No. of brands 30 (27) No. of brands 8 (3) MIPS has in total 147 cus
Slide 9: Development in the first quarter
Development in the first quarter Organic • Net Sales increased by 65%, organic growth was 48% growth • Gross profit up 65% and a gross margin of 72.5% (72.5) 48% • OPEX – continue to invest in strategic priorities • EBIT up 57% to SEK 62m (39), EBIT margin 45.3% (47.4) • Cash flow – operating cash f
Slide 10: Balance sheet and cash flow
Balance sheet and cash flow CASH FLOW FROM OPERATING ACTIVITIES (SEKm) • Cash and Cash Equivalents at SEK 478m (341) 81 • Dividend of SEK 5.00 (3.50) per share proposed. 69 71 Corresponding to 51% of net earnings 56 49 • Equity ratio 80% (84) 37 29 24 23 20 15 12 8 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q
Slide 11: Summary
Summary • Great start of the year, despite a challenging Net sales and EBIT-margin 12 months rolling environment SEKm Net sales SEKm rolling 12 months • Good performance in Sports and Moto EBIT%, rolling 12 months 662 608 550 • First global partnership announced in Safety 467 365 391 • Supply chain
Slide 12: Q&A
Q&A
Slide 13: 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