Slide 1: MIPS' presentation of the Q1 interim report 2020
MIPS’ presentation of the Q1 interim report 2020 29 April 2020
Slide 2: Key Highlights
KEY HIGHLIGHTS • 25% net sales growth (16% organic) in the quarter despite challenging situation. Strong improvement in EBIT and cash flow • Continued high activity with more helmet projects than ever. Per today, 30,000 tests have been performed. Two new brands within the Sports category • Relocated
Slide 3: We expect a volatile market the coming quarters
WE EXPECT A VOLATILE MARKET THE COMING QUARTERS • All third-party manufacturing units are fully up and running, no third-party capacity shortages • The sales development the coming quarters is fully dependent on the lock-down situation and government restrictions • Strong increase in online sales ch
Slide 4: Development in our different categories
DEVELOPMENT IN OUR DIFFERENT CATEGORIES SPORTS MOTO SAFETY First quarter 2020 First quarter 2020 First quarter 2020 Revenue, SEKm 50 Revenue, SEKm 6 Revenue, SEKm 0 Growth, % 23% Growth, % 39% Growth, % - No. of brands 98 (+2) No. of brands 20 No. of brands 1 • MIPS has in total 105 buying customers
Slide 5: Net sales development in first quarter
NET SALES DEVELOPMENT IN FIRST QUARTER • Good performance with 25% growth in the quarter, an organic growth of 16% Net Sales development (SEKm) and quarterly growth rates* • Growth mainly driven by existing customer base expanding their assortment with MIPS 41% 49% 87 83 • Sports category remains th
Slide 6: Development in first quarter
DEVELOPMENT IN FIRST QUARTER • Net Sales increased by 25%, organic growth was 16% 16% • Gross profit up 22%, gross margin down 200 bps to 70.8%. Adjusting for acquisitions, gross margin down 90 bps to 71.9% Organic growth • OPEX – continue to invest in strategic priorities • Adjusted EBIT was SEK 17
Slide 7: Balance sheet and cash flow
BALANCE SHEET AND CASH FLOW • Cash flow from operating activities increased in the Key balance sheet items and cash flow quarter with 95% to SEK 15m (8) MIPS Group (SEKm) Q1 2020 Q1 2019 Total Assets 421 333 Equity 356 284 • Cash flow from financing activities was SEK 52m (-0) Equity ratio % 85 85 C
Slide 8: Summary
SUMMARY • Good growth despite a challenging quarter Net sales and adjusted EBIT-margin 12 months rolling 300 45% • Healthy profit, EBIT margin and cash flow 38% 39% 41 % 41 % 41% 41 % 40% 279 improvements 250 34% 243 268 35% 30% 241 200 26% 30% • High helmet project activity, more brands coming 23%
Slide 9: Q&A
Q&A
Slide 10: 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