MIPS’ presentation
- f the year-end report for 2019
MIPS presentation of the year-end report for 2019 13 February 2020 - - PowerPoint PPT Presentation
MIPS presentation of the year-end report for 2019 13 February 2020 KEY HIGHLIGHTS Good growth in the fourth quarter with +41% increase of net sales. Organic growth was +33% Production volumes are getting back to normal after
2020
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103 active brands (2019) 583 models (2019)
4 8 8 15 28 45 60 78 103 2011 2012 2013 2014 2015 2016 2017 2018 2019 15 23 30 66 121 212 302 448 583 2011 2012 2013 2014 2015 2016 2017 2018 2019 14 43 67 279 1 046 1 671 2 320 3 812 4 973 2011 2012 2013 2014 2015 2016 2017 2018 2019
5.0m units sold (2019)
Thousands
2020
4 2020
5 2020
3 14 13 20 10 24 21 32 21 37 27 41 24 56 51 62 45 83 53 88 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2016 2017 2018 2019
Net Sales development (SEKm) and quarterly growth rates*
274% 70% 69%
55% 105% 55% 29% 29% 12% 52% 88% 53% 91% 49% 3% 41%
*No u underly lyin ing growt wth r rates a availa ilable le for 2 2015 15
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Cha hang nges i in ne n net s sales % % 2019 19 2019 19 Oct-De Dec Jan an-Dec Organic growth 33% 29% Changes in exchange rates 8% 9% Structural changes 0% 1% Total al 41% 41% 39% 9%
2020
7 2020
Organic growth Adjusted EBIT margin Operating cash flow
(SEKm)
MIPS Group (SEKm) Q4 19 Q4 18 %
Net sales 87.5 62.2 41 Gross profit 65.5 46.6 41 Gross margin % 74.9 74.9
39.0 28.7 36 Operating margin (EBIT) % 44.6 46.1
39.7 28.7 38 Adjusted Operating margin (EBIT) % 45.4 46.1
19.7 23.8
8 2020
Organic growth Adjusted EBIT margin Operating cash flow
(SEKm)
MIPS Group (SEKm) YTD 19 YTD 18 %
Net sales 267.9 192.5 39 Gross profit 198.4 142.2 40 Gross margin % 74.1 73.9
108.0 73.0 48 Operating margin (EBIT) % 40.3 37.9
110.5 73.0 51 Adjusted Operating margin (EBIT) % 41.2 37.9
63.2 69.1
1.5 1.6 3.8
7.4 6.4 13.7 1.6 11.5 0.1 14.6 1.8 21.720.8 28.7 11.8 38.0 20.9 39.7
11.2% 12.7% 18.9%
31.2% 30.3% 43.5% 7.4% 31.5% 0.3% 36.0% 7.6% 39.0% 40.7% 46.1% 26.3% 46.0% 39.5% 45.4%
3.0 8.0 13.0 18.0 23.0 28.0 33.0 38.0 43.0
10.0% 30.0% 50.0% 70.0% 90.0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2016 2017 2018 2019
Adjusted EBIT (SEKm) and adjusted EBIT margin development
9 2020
7.4 0.7 3.1
11.89.8 3.9 0.0 6.3 0.9 8.4 5.9 31.0 23.8 7.7 24.2 11.6 19.7 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2016 2017 2018 2019
Cash flow from operating activities (SEKm)
Q2 10
Key balance sheet items and cash flow
2020
MIPS Group (SEKm) FY 19 FY 18
Total Assets 342.6 319.4 Equity 297.9 275.6 Equity ratio % 87 86 Cash & Equivalents 191.6 242.5
MIPS Group (SEKm) FY 19 FY 18
Cash flow from operating activities 63.2 69.1
*Adjusted for costs in connection with the company's IPO during 2016 and 2017 and costs relating to acquisitions during 2019. Adjusted EBIT margin includes legal costs relating to company’s litigation processes.
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57 57 67 67 75 75 87 87 97 97 110 110 117 117 126 26 128 28 147 47 171 71 193 93 21 214 24 241 24 243 268 68
7% 7% 14% 4% 19% 9% 28% 8% 30% 0% 30% 0% 23% 3% 22% 22% 22% 22% 26% 26% 34% 4% 38% 8% 39 39% 41 41% 41 41% 41 41%
0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50 100 150 200 250 300
Q1 16 1 16 Q2 Q2 1 16Q3 16 16Q4 1 4 16 Q1 17 1 17 Q2 Q2 1 17 Q3 17 17 Q4 1 4 17 Q1 18 1 18 Q2 Q2 1 18Q3 18 18Q4 1 4 18 Q1 19 1 19 Q2 Q2 1 19Q3 19 19Q4 1 4 19
Net s sales a and a d adjuste ted E d EBIT-mar argin 1 n 12 m mont nths hs r rolling ng Net Sales SEKm Adjusted EBIT-margin*
2020
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13 2020