Oct - Dec
- Net sales increased by 41% to
SEK 87.5m (62.2).
During the quarter, the organic growth was 33%
- Operating profit increased to
SEK 39.0m (28.7).
Adjusted operating profit* increased toSEK 39.7m (28.7)
- Operating margin amounted to 44.6% (46.1).
Adjusted operating margin* amounted to 45.4% (46.1)
- Cash flow from operating activities amounted to
SEK 19.7m (23.8)
- Earnings per share, diluted, increased to
SEK 1.16 (0.85)
Jan - Dec
- Net sales increased by 39% to
SEK 267.9m (192.5).
During the year, organic growth was 29%
- Operating profit increased to
SEK 108.0m (73.0).
Adjusted operating profit* increased toSEK 110.5m (73.0)
- Operating margin increased to 40.3% (37.9).
Adjusted operating margin* increased to 41.2% (37.9)
- Cash flow from operating activities amounted to
SEK 63.2m (69.1)
- Earnings per share, diluted, amounted to
SEK 3.28 (2.21)
- The Board of Directors proposes a dividend of
SEK 3.00 (2.50) per share,
corresponding to 89% of the net earnings of the year
CEO’S COMMENTS
Strong completion of the year summarizes another successful year
During the fourth quarter, net sales increased by 41% to
The adjusted operating profit for the quarter amounted to
Strong platform for continued growth
During 2019 we implemented the MIPS Brain Protection System (BPS) in more helmets than ever before. As of
The trust in the MIPS brand has increased
The MIPS’ brand is continuously being strengthen through repeated best in test acknowledgments by independent testing institutions, positive articles in several sport and category specific media and a broader offering of helmet brands. This has led to an increased consumer demand for helmets branded with the yellow MIPS logotype.
We have also noted that more and more customers have taken the strategic decision to offer the MIPS BPS in all their helmet models. The American helmet brand Specialized received a great response in bicycle media when communicating their all-in commitment with MIPS some time ago. During the quarter, we saw two additional examples of this when the lifestyle helmet brand Nutcase as well as Bollé announced that they intend to implement the MIPS BPS in all their bicycle and snow helmet models. Naturally, we are very pleased with these brands’ commitment to offer safer helmets.
Minor impact from trade tariffs during the quarter
During the third quarter, we communicated that we believed the negative impacts on the sales to
Coronavirus causing a nervous market
The recent weeks’ news regarding the outbreak of the Coronavirus in
Continued strengthening of the organization
During the quarter, our new Chief Marketing Officer,
During the first quarter 2020, we relocated to new office premises in Täby outside of
With our current customer base and our newly launched strategic initiatives, I believe MIPS is in a good position to deliver in accordance with our 2025 targets.
President and CEO
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