Mips AB Sees Q2 Sales Halved on Tough Bike Inventories, Late Season Start

July 20, 2023

Swedish helmet technology provider Mips AB saw second-quarter revenues cut in half from the year-ago comparable period, led by a continued sharp decline in its Sport and Moto businesses. Earnings per share were cut 75 percent for the period. 

Net sales for the three-month period ended June 30 fell 51 percent in Swedish Krona (SEK) terms to SEK 102 million from SEK 206 million in Q2 last year. Currency-neutral sales growth reportedly sank 53 percent for the quarter. SGB