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 2023 Mips AB Earnings Call Transcript

Oct 26, 2023 / 08:00AM GMT

Release Date Price: €22.27 (-12.74%)

Transcript

Operator

Welcome to the Mips Q3 2023 Report. (Operator Instructions)

Now I will hand the conference over to the speakers, CEO, Max Strandwitz; and CFO, Karin Rosenthal. Please go ahead.

Max Strandwitz;publ;CEO;President

Mips AB

()-&

Good morning, everyone. My name is Max Strandwitz. I am the CEO of Mips. And with me today, I also have our CFO, Karin Rosenthal. We will take you through the Q3 interim report presentation of 2023.

And if we start with the key highlights of the quarter, we did see a soft quarter with a decline in sales of 32%. If we adjust for currency effect, organic growth was down 33%, and the soft performance that we have seen is mainly from the bike category -- subcategory and Moto.

As explained also in the report, we have seen a good start of the fourth quarter in terms of orders received and the indication from our customer in the industry is also that the markets will recover in 2024. There is still some short-term uncertainty in the retail environment. I think you all

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