Mips AB

MIPS

Equity

ISIN SE0009216278 / Valor 36057061

NASDAQ Nordic Exchange Stockholm, Equities (2024-12-23)

SEK 471.80+2.43%

Mips AB
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About company

Mips AB is a Swedish company that specializes in providing advanced safety systems for helmets, known as the Multi-directional Impact Protection System (Mips®). This patented technology, developed through 25 years of research in collaboration with the KTH Royal Institute of Technology and the Karolinska Institute, is designed to enhance helmet protection by mitigating the effects of rotational motion on the brain during impacts. The core of the Mips® safety system is its low friction layer, which mimics the brain's natural protective mechanisms, allowing for relative motion between the head and the helmet to reduce the risk of brain injuries. Mips operates on an ingredient brand model, selling its safety systems to global helmet manufacturers for integration into their products. The company, headquartered in Stockholm, Sweden, with a unique testing facility and a manufacturing subsidiary in China, positions its technology as an added-value feature for helmet brands, aiming to improve consumer safety across various helmet-using activities.

Summarized from source with an LLMView SourceSector: Business Services

Net Sales Growth

In the second quarter of 2024, Mips AB reported a significant increase in net sales, which grew by 31% to SEK 133 million compared to SEK 102 million in the same period the previous year. This growth was entirely organic, driven by improvements in the bike and snow sub-categories within the Sports segment.

Operating Profit Surge

Mips AB's operating profit for Q2 2024 saw a remarkable increase of 125%, reaching SEK 52 million, up from SEK 23 million in Q2 2023. This substantial rise in operating profit was primarily due to increased sales and a higher gross margin.

Improved Operating Margin

The operating margin for Mips AB in the second quarter of 2024 improved significantly, increasing by 16.3 percentage points to 38.9% from 22.6% in the same quarter of the previous year. This improvement reflects the company's efficient cost management and higher sales volume.

Cash Flow Enhancement

Cash flow from operating activities for Mips AB in Q2 2024 increased by SEK 20 million, amounting to SEK 29 million compared to SEK 9 million in Q2 2023. The improvement in cash flow was mainly driven by the increased earnings during the quarter.

Earnings Per Share

Mips AB reported a significant increase in diluted earnings per share for the second quarter of 2024, which rose by 101% to SEK 1.53 from SEK 0.76 in the same period the previous year. This increase reflects the company's strong financial performance and profitability during the quarter.

Summarized from source with an LLMView Source

Key figures

33.4%1Y

-59.7%3Y

145%5Y

Performance

50.7%1Y

60.2%3Y

56.1%5Y

Volatility