Q1 2021 MIPS AB Earnings Call Transcript
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Good morning, everyone. My name is Max Strandwitz, and I am the CEO of MIPS. With me today, I also have Karin Rosenthal, who is our CFO. I will take you through the Q1 interim report. And if we start with the key highlights, we did see strong performance in the quarter with 48% net sales growth, 66% organic growth if we adjust for currency effects. We continue to see a very high demand for bicycle helmets, but there is positive outlook in all the 3 categories that we operate in. We saw a good development in EBIT and operating cash flow. And it's good to see, especially on the EBIT development, when I started in 2016, we never thought that we would make profit in the normally smaller first quarter and showing a 47% EBIT margin is, of course, a great achievement and also a very good testimony of the scalability of our model. There is challenges in supply chain. However, they have so far been manageable. Global logistics and helmet manufacturers capacity is still challenged coming quarters. We do see high
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