Mips AB (OTCPK:MPZAF)

$ 50.41 0 (0%) Market Cap: 1.13 Bil Enterprise Value: 1.08 Bil PE Ratio: 119.75 PB Ratio: 21.33 GF Score: 90/100

Q4 2022 Mips AB Earnings Call Transcript

Feb 09, 2023 / 09:00AM GMT

Release Date Price: $57.7

Transcript

Operator

Good morning, and welcome to the Mips Conference Call. (Operator Instructions) Please note this event is being recorded.

I would now like to turn the conference over to Max Strandwitz. Please go ahead.

Max Strandwitz;publ;CEO;President

Mips AB

()-&

Good morning, and thank you, operator. My name is Max Strandwitz, and I am the CEO of Mips. And with me today, I also have our CFO, Karin Rosenthal, and we will present the year-end report.

So if we start with the key highlights, and I'm now on the second page of the quarter. As we communicated before, we expected a soft fourth quarter and, indeed, we did see a soft quarter. Net sales in the fourth quarter was down with 46%. If we adjust for currency effect, organic growth was down with 53%. If we look at the year-to-date performance, our sales decreased with 7%. And of course, as we also explained before, Q4 is a very Bike heavy quarter. In prior year comparator, we had almost 80% sales of bikes in the quarter. So of course, with the soft bike

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