(New York) Mattel posted record first quarter sales, driven by demand for small cars, figurines and traditional games, and maintained its 2022 guidance thanks in part to its supply chain management.
Posted at 6:22 p.m.
During a conference call on its results, its leaders did not wish to comment on press reports according to which they had discussed with investment companies a possible sale.
According to wall street journalMattel notably exchanged with Apollo Global Management and L Catterton.
The turnover of the maker of Barbie dolls, Hot Wheels toy cars and Pictionary, increased by 19% to 1.04 billion dollars in the first three months of the year.
The group mainly benefited from the increase in sales of Hot Wheels and CARS cars (+31) and the figurines, construction games and board games category (+41%).
Revenues from Barbie, Polly Pocket and other dolls grew more modestly (+4%) while those from toys for young children (Fisher-Price, Thomas & Friends) increased by 12%.
The group is back in the green with a net profit of 21 million dollars.
“Matel’s supply chain plays a key role in our success,” Group CEO Ynon Kreiz said in the statement. “All of our factories are fully operational and we are working with our retail partners to ensure products are available on shelves to meet consumer demand,” he added.
The group benefited in particular in the first quarter from the fact that the stores reinflated their inventories after a particularly strong holiday season and to prepare for the release of films like Jurassic World Dominion and sales of related products.
Mattel still expects sales to increase at constant currency between 8% and 10% for the year.
The action of the group took more than 3% in electronic exchanges, after having already progressed by nearly 11% in session following press information.
Mattel also pledged on Wednesday to reduce the plastic packaging of each of its products by 25% between 2020 and 2030.