While Mattel dodge rumours that they have been in talks with two private equity firms about a potential buyout, the news arrives that the company has enjoyed its best ever first quarter results. Indeed, according to Ynon Kreiz, chairman and CEO of Mattel, “Mattel achieved its highest first quarter results we have on record for net sales, operating income and EBITDA.”
The company has released its first quarter results, which were described as the highest on record for net sales and other key metrics. For the first quarter, Mattel’s net sales were up 19% as reported versus the prior year’s first quarter. Reported operating income was $80m, an increase of $46m. Net sales in the North America segment increased 26% as reported versus last year’s first quarter, driven by growth in Action Figures, Building Sets, Games and Other (including Jurassic World, Lightyear and Mega), Vehicles (including Hot Wheels) Infant, Toddler and Pre-school (including Fisher-Price and Thomas & Friends), and Dolls (including Barbie and Polly Pocket).
Net sales in the International segment increased 16% as reported, driven by growth in Vehicles (including Hot Wheels), Dolls (including Barbie and Polly Pocket) and Action Figures, Building Sets, Games and Other (including Jurassic World, Mega and Lightyear). EMEA was the fastest growing region, with a 29% increase driven by growth across all markets, with positive POS.
Mattel announced an adjusted EBITDA of $152m, up 65%, representing an increase of $60m.
