Mips AB (FRA:7M1)

€ 38.24 0.08 (0.21%) Market Cap: 993.09 Mil Enterprise Value: 958.69 Mil PE Ratio: 186.64 PB Ratio: 17.10 GF Score: 68/100

Q3 2021 MIPS AB Earnings Call Transcript

Oct 28, 2021 / 08:00AM GMT

Release Date Price: €110.9 (+14.57%)

Transcript

Operator

Welcome to the MIPS Audio Account Teleconference Q3 2021. Today, I'm pleased to present CEO, Max Strandwitz; and CFO, Karin Rosenthal. (Operator Instructions) Speakers, please begin.

Max Strandwitz;publ;CEO;President

MIPS AB

()-&

Thank you, operator. Good morning. My name is Max Strandwitz, I am the CEO of MIPS. And with me today, I also have the MIPS' CFO, Karin Rosenthal. I will take you through the highlights of a very strong quarter. We did see very strong development in the quarter with 82% organic growth, great given that we had a 108% prior year comparators. So we were up against a very strong comparator, but still managed to deliver very solid results. Year-to-date, organic growth is now at 95%. So the good momentum really continues.

Growth is mainly attributed to a very strong demand that we see on the bicycle market. I don't think anyone has missed that there is a very strong bicycle market out there. We did continue to improve both our EBIT and operating cash flow and they more than doubled

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