Customer insolvency and payment risk
Mips sells mainly to helmet brands and factories, so customer distress can directly reduce sales and collections.
- Scope
- Helmet manufacturers and supply-chain counterparties
- Materiality
- high
Mips
Mips is a Swedish safety-technology company that develops helmet safety systems sold as ingredient-brand components to helmet manufacturers. Its products are integrated into helmets across sports, motorcycle, and occupational safety applications, with operations and sourcing spanning Europe and China.
124
2.83
2.69
| % | |
|---|---|
| Sports helmet systems | 74% Low-friction safety systems integrated into sports helmets, especially bike helmets. |
| Motorcycle helmet systems | 10% Safety components designed for on-road and off-road motorcycle helmets. |
| Safety helmet systems | 11% Products used in occupational and industrial safety helmets. |
| Services and customer development | 5% Technology development and customer-specific services tied to helmet models. |
Mips sells primarily to helmet brands and helmet production factories, not directly to end consumers...
- Helmet brandsprimary
Buy component kits and license-based safety technology to integrate into branded helmets.
- Helmet production factoriesprimary
Install Mips components during helmet manufacturing and assembly.
- Sports helmet manufacturersprimary
Use Mips systems in bike and other sports helmets to improve safety features.
- Motorcycle helmet manufacturerssecondary
Buy Mips technology for on-road and off-road motorcycle helmets.
- Safety and work-helmet manufacturerssecondary
Use Mips systems in occupational safety helmets and related products.
Mips is headquartered in Sweden and runs a global business with operations in Europe and outside Europe, including...
- •Sweden is the corporate base and key governance center
- •Europe hosts major R&D, sales, and support functions
- •China is important for sourcing and component production
- •Helmet manufacturing hubs shape customer proximity and logistics
- •Global sales exposure links results to helmet-market demand worldwide
Mips’ strategy is built around growing its existing helmet categories, opening new channels and price points, and...
01
Grow the existing businessshort-term
Deepening penetration with current customers expands installed base and improves category coverage.
02
Open new channels and marketsmedium-term
Lower-price solutions and new geographies broaden the addressable helmet market.
03
Capture new helmet-safety opportunitieslong-term
Extending the technology platform can create additional use cases beyond rotational protection.
Mips depends on helmet-market demand, customer manufacturing activity, and a supply chain that is largely outsourced,...
Supply-chain disruption and supplier noncompliance
Mips does not manufacture itself and relies on external suppliers for production and installation.
- Scope
- Manufacturing suppliers, logistics, quality assurance
- Materiality
- high
Product safety and reputation risk
The brand is tied to helmet safety performance, so any product issue could damage customer trust.
- Scope
- Helmet safety systems and customer relationships
- Materiality
- high
Foreign exchange volatility
Revenue is invoiced in USD, EUR, and CNY, and exchange-rate changes affect net sales and profitability.
- Scope
- USD, EUR, CNY
- Materiality
- high
Geopolitical and trade uncertainty
Global conflicts, tariffs, and macro volatility can disrupt demand, sourcing, and customer planning.
- Scope
- International markets and China-linked supply chains
- Materiality
- medium
Revenue recognition for component kits and licenses
Reported revenue and quarterly comparability
Foreign currency translation and transaction effects
Net sales, EBIT, and volatility in reported results
IFRS 16
IFRS 16 lease accounting
EBITDA, adjusted EBITDA, and covenant analysis
Receivables and expected credit losses
Accounts receivable and impairment charges
Acquisition accounting and intangible assets
Profitability and balance-sheet carrying values
: 11/08/2026