NEWS

Mattel reports strong set of second quarter results

Published on: 22nd July 2022

Mattel said that Net Sales increased by 20% over the past three months, with both the US and international markets enjoying double digit growth.

Mattel has unveiled an extremely strong set of second quarter results. The company achieved Net Sales of $1,236m, which represented an increase of 20% as reported and 24% in constant currency. Net Sales in North America increased by 30%, while Net Sales in the International segment increased by 12%, driven primarily by growth in Action Figures, Building Sets, Games, and Other (including Jurassic World and Lightyear), Vehicles (including Hot Wheels), and Infant, Toddler and Preschool (including Fisher-Price and Thomas & Friends).

Mattel EMEA was once again one of the best performing international regions, increasing by 21%. This growth was comprehensive, with gains in all key markets, all reported categories and all power brands. POS increased by low double digits

The strong second quarter continued the momentum built in Q1, giving Mattel a very positive first half of the year: for the first six months of the year, Net Sales were up 20% as reported, and 23% in constant currency, versus the prior year’s first six months.

Ynon Kreiz, chairman and CEO of Mattel, said: “Mattel achieved another quarter of exceptional results, with double-digit growth in revenue and Adjusted EBITDA despite significant inflation. This was the eighth consecutive quarter of increased topline performance, reflecting the strength and breadth of our portfolio, and the success in executing our strategy to grow Mattel’s IP-driven toy business and expand our entertainment offering. The first half of the year was an outstanding period of growth for the company. We are benefiting from strong retail partnerships and look forward to meeting the projected increase in consumer demand for our product, as we enter the second half of the year and the all-important holiday season. As the owner of one of the strongest portfolios of children’s and family entertainment franchises in the world, we are excited by the opportunities to capture the full value of our IP.”

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