Share price
393.8 SEK
Mips AB (Mips) -10.32 SEK (-2.62%)
Last updated 29 March 2025, 08:38 CET
SEKm
Net sales
SEKm
Operating profit
Operating margin
Distribution of net earnings
*Proposed dividend for 2024
Mips´ strategy builds on three strategic pillars: Grow the existing business, open up new channels and markets and, capture new opportunities within helmet safety. Mips´ financial targets are:
Growth
Net sales no later than 2029
Profitability
EBIT margin
Dividend policy
Dividend of annual net earnings
Message from the CEO
2024 was another challenging year. The geopolitical situation remained unpredictable, the economy has been weak, and many post-effects of the pandemic have lingered for much longer than I think anyone could have foreseen. These circumstances are challenging for most companies. But in spite of this, we have shown strong progress. We grew in all our categories. We grew in all the geographies we sell to.
We implemented Mips´ technology in more helmets than in any other year. Three different factors make this possible. The first is that we are gaining market share in all the markets we sell to. The second is that we continue to increase Mips´ penetration of the market, more products are being equipped with our technology. And the third factor is that our customers´ inventory situation has improved significantly.
Max Strandwitz
President and CEO
Mips culture committee aims to nurture and further develop the company´s already strong and unique culture. The group, which consists of six employees from different departments as well as the Head of HR, is tasked with bringing Mips´ values to life. These are: We dare, We care and We share.
Daring means being brave, innovative, and challenging the status quo. We are curious about trying new solutions and are not afraid to make mistakes or ask for help. We challenge ourself and others to achieve Mips´ vision.
Caring involves creating a sustainable environment where people can perform. We show our colleagues respect. In our desire to achieve the highest quality, we take responsibility for our own wellbeing.
Sharing is about creating transparency, a sense of belonging, and trust. We continuously share our experiences and knowledge with our colleagues. We support collaboration across functional areas.
Mips is a global leader in its field and aims to be at the forefront of its industry when it comes to sustainability. The company is determined to fulfil the expectations of its stakeholders and lead the way in this important field. This is what enables Mips to continue to grow profitably and sustainably.
Mips has achieved all three of the main sustainability targets set for 2024. The company has reduced its greenhouse gas emissions per solution sold by an average of 18 percent compared to last year. Mips´thus exceeded its target for 2024, which was to reduce emissions per solution sold by an average of 8 percent. Mips has carried out third-party audits of five of the company´s strategically important suppliers, which is in line with the target for the year. The proportion of recycled material used in Mips´solutions increased by 16 percent this year compared to last year. Mips has thus achieved this year´s target to increase the proportion of recycled material by at least 10 percent.
Science based targets
Reduced emissions per solution sold
UN Global Compact
Third-party audits performed
Circular product offering
Higher proportion of recycled materials
Mips constantly strives to limit its negative climate impact. The dominant part of Mips´greenhouse gas emissions is related to raw materials and energy consumption in the manufacturing of Mips´solutions in the supply chain. Mips focuses its climate efforts on these areas and has set a target to reduce greenhouse gas emissions by 90% per sold solution from 2021 to the end of 2030. In 2024 Mips reached 43 percent reduction per sold solution compared to 2021, which corresponds to 18 percent reduction per solution sold compared to 2023.
Total emissions 2024
| Emissions per category | ||
|---|---|---|
| Raw material | 44.4% | |
| Electricity suppliers | 36.7% | |
| Other, manufacturing suppliers | 7.1% | |
| Freight transport | 5.3% | |
| Business travel and commuting | 4.4% | |
| Electricity, own operations in China | 1.0% | |
| Other, Scope 3 | 0.8% | |
| Waste, own operations | 0.2% | |
| Electricity and district heating, own operations in Sweden | 0.1% |
Mips actively collaborates with its partners in the value chain to jointly achieve continuous improvements in the areas of resource use and circular economy. Together with its suppliers, Mips is working to increase the proportion of recycled materials and reduce waste. Mips long-term target in this area is to achieve 90 percent recycled material in sold solutions by 2030. In 2024 Mips reached 34 percent recycled material, which corresponds to an increase of 16 percent compared to 2023.
Part of Mips´vision is to use Mips´technology so that helmets in all categories protect users better than current test standards promote.
Mips is a pioneer in this important field, so it is vital that the company can attract and retain employees with the right skills and passion to always make safer and better solutions. Even though Mips is the world leader in its field, Mips´people are modest and curious, with a desire to learn more. Mips´employees constantly challenges themselves and the company encouranges all employees to bring the best of themselves to work every day.
Mips does not conduct any of its own production and instead uses external suppliers for product manufacturing. Mips has committed to adhere to the UN Global Compact and its ten principles on human rights, labor, the environment and anti-corruption. These ten principles are incorporated in Mips´Code of Conduct for Suppliers. To ensure that Mips´suppliers adhere to Mips´Code of Conduct, Mips audits manufacturing suppliers at least every other year. In 2024 Mips engaged an independent third-party to audit five strategically important suppliers.
Sustainable societal development is extremely important for us, we believe that our technology and products lead to a more sustainable society since they are designed to improve helmet protection for both recreational and professional use. Improved helmet protection leads to increased safety and security while reducing risk for both short-term and long-term sick leave, as well as permanent injury.
Mips´business activities are characterized by responsibility and a long-term perspective. Stakeholders must be able to trust that Mips fulfills its promises throughout the entire business process. This is how Mips builds trust with customers, employees, suppliers, and other important partners. Mips´risk analysis forms the basis of the priorities and key areas the company has focused on to ensure business is conducted responsibly.