The Third Quarter Sales Of Helmet Manufacturers MIPS Fell 39% in The Third Quarter

MIPS is a manufacturer of various use safety system helmets in Sweden. At present, net sales in the third quarter have decreased by 39%to 113 million Swedish Crown (10.3 million euros). After adjusting the impact of exchange rates, it has decreased by 50%. The main reason is caused by the sudden decline in bicycle helmet products, but in the long run, the prospect is still good.

MIPS CEO Max Strandwitz said: "Bicycle retailers around the world generally have too many bicycles and bicycle accessories inventory, resulting in the helmet manufacturer's production and manufacturing of bicycle helmets in the next season. The sales of the first nine months have increased by 11%. "

CEO Strandwitz believes that "the short -term negative trend of the bicycle industry" may last until the first half of 2023 until the market inventory is completely digested. The recent negative situation in the bicycle industry will not affect our long -term growth opportunities in the category of self -car. We believe that under the tendency of electric bicycles, commuters, and people who want to move outdoors outdoors, the bicycle helmet category will grow again. We are confident to continue to invest in the bicycle field. "

MIPS's operating performance in the third quarter decreased from 221 million to 205 million krona last year, a 7%decrease. Its operating profit really decreased by 66%, only 37 million Swedish Krona. MIPS is expected to return to normal in May next year.