Q2 2026 Mips AB Earnings Call Transcript
Key Points
- Mips AB (MPZAF) reported a strong 72% growth in net sales for Q2 2026, with 42% organic growth.
- The company achieved a significant 47% adjusted EBIT margin, showcasing strong profitability.
- The Koroyd acquisition is developing well, contributing to growth and expanding the product portfolio.
- Strong performance in the Sports category, with 51% net sales growth driven by the Bike and Snow subcategories.
- The Safety segment saw a remarkable 604% net sales growth, with an 80% organic growth rate, boosted by the Koroyd acquisition.
- Legal costs impacted operating expenses, with SEK12 million spent in Q2, and a USD 3.25 million settlement expected to affect Q3.
- Despite strong growth, the EBIT margin target of 50% is not expected to be reached this year.
- The US market remains challenging, with flat market conditions and inventory levels at a historic low.
- Koroyd's gross margin is lower than Mips AB (MPZAF)'s, which could impact overall profitability.
- The company faces ongoing challenges in managing acquisitions and ensuring successful integration.
Good day, and thank you for standing by. Welcome to the Mips interim report Q2 2026 webcast and conference call. (Operator Instructions) 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. Good morning, everyone. My name is Max Strandwitz, I am the CEO of Mips. And with me today, we also have our CFO, Karin Rosenthal. And we will take you through the interim report of the second quarter 2026.
So if we start with the quarter, we did see strong developments with 72% growth in the quarter. Organic growth was 42%. So we adjust for 4x, which was more or less flat. And then, of course, we also adjust for acquisition effects. So very strong organic growth.
Year-to-date growth is now at 53% and organic growth level at 35%. We do see strong momentum in all categories and all geographies. Continued strong performance in Europe. US growth helped by the
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