Organic growth of Mips is up to 77%

Wednesday were it's time for MIPS present its latest quarterly figures. Hjälmbolaget reported a suitable lease while its operating income reached SEK 20.8 million, which can be compared to SEK 0.1 million in the third quarter of 2017.

"I am extremely pleased that MIPS continues to grow rapidly, profitably and in line with our plan for 2020. The net business of our group increased by 77% to SEK 51.2 million in the quarter. This growth is due to the increased penetration of our main customers in all product categories, but to a certain extent, the comparative figures of the previous year are lower, "writes Johan Thiel, CEO of Mips, in the report.

"Volume growth, our good gross margins, the scalability of our business model and the legal costs up from the previous year all contributed to the significant improvement in operating profit of the quarter, "he continued.

Mips operating margin was 40.7% during the quarter. Net income reached SEK 15.7 million compared to SEK 0.2 million in the third quarter of 2017.

As for Johan Thiel writes that he is not expecting any US commercial tax on helmets.

"The major helmet manufacturers have expressed concern about possible harsh penalties if US consumers reduce the use of essential protective gear such as helmets because of rising prices." In mid-September, US authorities did not choose to impose helmets with tariff penalties in this wave of implementation. "he writes.

Mips' share has increased 87.3% since the beginning of the year.