Slide 1: Mips' presentation of the Q4 Year-end report 2024
6 February 2025 Mips’ presentation of the Q4 Year-end report 2024
Slide 2: Key highlights
Key highlights • Another strong quarter with +58% growth in net sales. Organic growth in the quarter was +52%. YTD, we have delivered +35% organic growth. • Good development in all categories and all regions. • Consumer market remains challenging and buying behaviour is still erratic, but we see pos
Slide 3: Update of long-term financial target
Update of long-term financial target • We remain confident in the strategy communicated >SEK 2bn at our latest Capital Markets day in 2022. net sales 2029 • Despite good progress and market share gains, the overall consumer market has taken longer to return to normal purchasing patterns. Additionall
Slide 4: Sports – strong development in all sub-categories
Sports Sports – strong development in all sub-categories • Strong performance in Sports with +56% net sales growth. Good performance in all sub-categories in Sports. YTD net sales increased with +35%. • Inventory levels at more healthier levels, but market conditions still challenging due to weaker
Slide 5: Strong growth in Moto
Moto Strong growth in Moto • Good performance with +57% growth in the quarter and YTD growth now at +25%. • Situation more normalized with customers buying from us again, but still challenging market conditions. • Great interest in the new solutions launched in Moto, especially, Mips Integra TX. Goo
Slide 6: Good development in Safety with largest quarter ever
Safety Good development in Safety with largest quarter ever • Good momentum in Safety with the largest quarter since entry in the category, with +119% net sales growth. YTD net sales increased with +55%. • Roll-out of all the new helmet models equipped with our technology is starting to generate the
Slide 7: Supply chain - tariffs
Supply chain Supply chain - tariffs • In conjunction with the installation of the new American president, tariffs of 10% have been communicated for goods imported from China. • Mips sells all products based on Incoterms Ex Works (delivered at Mips’ warehouse), which means that the buyer takes respon
Slide 8: Great delivery meeting our sustainability targets
Sustainability Great delivery meeting our sustainability targets All key sustainability targets for 2024 were met: • Emission reduction of 18% during the year, significantly ahead of our SBTi ambition. Including 2024 we have now delivered 43% of our 2030 ambition. • Third party audit plans delivered
Slide 9: Development of net sales in our categories
CATEGORIES Development of net sales in our categories SPORTS MOTO SAFETY Sports Q4 YTD Motorcycle Q4 YTD Safety Q4 YTD Revenue SEKm 133 (85) 437 (323) Revenue SEKm 5 (3) 28 (22) Revenue SEKm 6 (3) 18 (12) Growth % 56 35 Growth % 57 25 Growth % 119 55 2024 I Year-end report 9
Slide 10: Development in the fourth quarter
FINANCIAL PERFORMANCE Development in the fourth quarter • Strong development in the fourth quarter with increase in net SEKm Q4 24 Q4 23 sales of 58%, adjusting for FX, net sales increased 52% organically Net sales 144 91 58% • Gross profit increased with 64%. Gross margin of 72.9% (70.2), increase
Slide 11: Development for the full year
FINANCIAL PERFORMANCE Development for the full year • Net sales during the full year increased with 35%, SEKm YTD 24 YTD 23 adjusting for FX, net sales increased 35% organically Net sales 483 357 35% • Gross profit increased with 38%. Gross margin of 72.5% (70.9), increase mainly due to increase in
Slide 12: Balance sheet and cash flow
Balance sheet Cash flow from operating activities (SEKm) and cash flow • Cash and Cash Equivalents at SEK 382m (408) • Dividend of SEK 6.50 (6.00) per share, being proposed. Corresponding to 122% of net earnings Q4 Q4 YTD YTD Mips group (SEKm) 24 23 24 23 • Operating cash flow in the quarter Total a
Slide 13: Summary
Summary • Strong delivery in the last quarter of the year with +52% organic growth. YTD performance at +35% organic growth. • Good performance in all our three categories and we see growth in all regions. Good increase in market shares and penetration of the market. • Inventory situation much more b
Slide 14: Mips Safety for helmets
Mins Safety for helmets
Slide 15: 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