Mips AB (FRA:7M1)

€ 38.24 0.22 (0.58%) Market Cap: 993.09 Mil Enterprise Value: 958.69 Mil PE Ratio: 186.64 PB Ratio: 17.10 GF Score: 68/100

Q2 2020 MIPS AB Earnings Call Transcript

Jul 23, 2020 / 08:00AM GMT

Release Date Price: €31.76 (-8.31%)

Transcript

Operator

Ladies and gentlemen, welcome to the MIPS Q2 Report 2020. Today, I'm pleased to present CEO, Max Strandwitz. (Operator Instructions)

Speaker, please begin your meeting.

Max Strandwitz;publ;CEO;President

MIPS AB

()-&

Yes. Thank you. Good morning, everyone. My name is Mac Strandwitz. I am the CEO of MIPS, and I will take you through the quarterly results of MIPS.

So if you move to Page #2, and if we start with the key highlights. We did see soft performance in the quarter with a 20% net sales decline. It was indeed a very strange quarter with very weak sales in the beginning of the quarter. And though all our customers pulled the emergency break and as the countries open up, we saw strong sales in the end of the quarter.

If we look a bit more into the details of the different types of helmets, in snow helmets, that was the key driver of the soft performance in the quarter. We do expect a partial recovery throughout the year. In Moto, we also saw soft performance in the quarter, but

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