World News

Spin Master unveils strong Q4 financial results

Published on: March 15th, 2017

spin-master-480Gross product sales in the fourth quarter of 2016 increased by 30.9% to $376.2m, driven by sales of Paw Patrol and Hatchimals.

Sales increased by 21.9% in North America, 59.4% in Europe and 34.8% in the rest of the world. Overall, international sales represented 34.8% of the company’s turnover, compared with 30.0% in 2015.

Ben Gadbois, president and COO of Spin Master, commented: “Operationally, our rolling 36-month brand innovation pipeline continues to generate innovation that we intend to build on to drive future growth. Our international sales, marketing and distribution network and overall international market presence is stronger today than it was a year ago. We still see significant opportunities in Europe, Asia, Australia and other international markets, and we look forward to capitalizing on them as we move toward our goal of deriving 40% of our sales from international customers in the next few years.”

Ronnen Harary, Spin Master’s co- CEO, added: “We are very pleased with our performance in 2016. The successful launch of Hatchimals was a testament to our ability to innovate and highlighted the integration of our internal global R&D network with our external inventors. Our brands are continuing to resonate with children worldwide. Together with Cardinal and our recent acquisitions of Swimways and Toca Boca, we have strong momentum building across our business going into 2017.”

If you would like to receive our daily newsflash email, click here; you can also follow us on Twitter and Facebook and request a print subscription here.