Q1 2026 Mips AB Earnings Call Transcript
Key Points
- Mips AB (STU:7M1) reported a strong start to the year with a 30% growth in net sales for Q1 2026, achieving 25% organic growth when adjusted for acquisitions and Forex impacts.
- The company achieved a 33% adjusted EBIT margin, marking a 50% increase in EBIT compared to the previous year.
- All three business categories—Sports, Moto, and Safety—experienced growth, with notable performance in the European and North American markets.
- The integration of the Koroyd business, acquired in December, has been successful, contributing positively to the company's portfolio and market interest.
- Mips AB (STU:7M1) maintained strong performance in the Bike segment, achieving volume growth for the tenth consecutive quarter.
- Mips AB (STU:7M1) faced SEK7 million in legal costs related to a U.S. legal dispute, impacting profitability.
- The company experienced a negative Forex impact due to a stronger SEK versus the US dollar, affecting net sales by 13%.
- Organic growth in the Safety category was slower than expected at 6%, although the company anticipates improvement later in the year.
- The acquisition of Koroyd had a dilutive effect on the gross margin and EBIT margin in Q1.
- Operating cash flow was impacted by higher customer receivables due to later invoicing related to the Chinese New Year.
Good day, and thank you for standing by. Welcome to the MIPS Interim Report Q1 2026 Webcast and Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Max Strandwitz, CEO. Please go ahead.
Thank you, operator, and good morning, everyone. My name is Max Strandwitz, and I am the CEO of MIPS. With me today, we also have our CFO, Karin Rosenthal, and we will take you through the interim report of the first quarter.
So, if we look at the key highlights of the quarter, Q1, it was a strong start of the year. 30% growth in the first quarter if we adjust for acquisition and impact of Forex, we did deliver an organic growth of 25%. We did see growth in all our three categories and all of the key regions. We did acquire the Koroyd business in December last year, and that has been well
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