Full Year 2020 MIPS AB Earnings Call Transcript
Ladies and gentlemen, welcome to MIPS Q4 Report for 2020. (Operator Instructions) Today, I am pleased to present Max Strandwitz CEO; and Karin Rosenthal, CFO. Max, please begin your meeting.
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Yes. Thank you, operator. Good morning, everyone. 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 key highlights of the year-end report.
We did see strong performance in the quarter with 60% net sales growth, 77% organic, adjusting for currency effects. Despite the challenging start of the year, we managed to turn around the performance and deliver an organic growth of 43% for the full year. We continue to see good consumer demand in bike. We have a record amount of customer projects. We do see a strong increase of customers and models on the market equipped with MIPS. We did launch our first international customer in safety in January. We continue our journey to increase the
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