Q1 2019 MIPS AB Earnings Call Transcript
Hello and welcome. This is a Johan Thiel, CEO of MIPS. We will start the Q1 report for 2019. So let's turn to page 2 and talk about the Q1 highlights. We start a very strong quarter with strong start of the year with 91% growth and 71% organic growth representing SEK44.9 million. We have also seen all categories showing positive developments led by the Snow category in this Q1 quarter. This also helped to increase the EBIT margin up to 26.3% compared to 7.6% (technical difficulty) last year's quarter and represents SEK11.8 million.
We have still continued high inflow of projects both from new and existing clients. You might have saw sort of the turbulence from Bontrager's launch with the new technology WaveCel. That is something that happened during Q1 and I will get into more details into that later on into the presentation. So far we see very good progress towards our 2020 financial goals, so let's turn to the next page and talk about WaveCel.
WaveCel is a material that was launched together with a bicycle brand Bontrager in end of March. They have what
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