A sales increase of 20% accompanies continued growth across Europe and multiple licence expansions for Sambro.

Sambro has reported strong growth in its latest published accounts for the financial year ending 31st December 2022. The business, which proudly celebrated 25 years in May 2022, has gone from strength to strength in terms of products, brands and financial performance recording an increase of over 20% in group sales from 2021 (£61.4m, an increase of 20.4% on 2021 £51.0m) and increase in group EBITDA £4.2m, an increase of 500% on 2021 £0.7m).

Paul Blackaby, Sambro CEO, said: “2021 saw significant growth for us as a business and we set ourselves ambitious targets for 2022, which thanks to our commitment to investing in our people, product and partnerships, we’ve been able to hit and more.”

Continued forward momentum has been driven by the company’s passionate and committed team, including its new senior leadership team.  Sambro services customers across the UK and Europe, working with some of the fastest growing retailers in the region, trading in over 30 countries worldwide from its offices in Greater Manchester and Amsterdam.

Gross margins increased from 20% in 2021 to 24.7% in 2022, driven by significant internal efficiency improvements and continued development of its global supply chain. Net cash generated by the group from operating activities was £4.3m, significantly higher than the previous year when cash consumed was at £2.9m.

The company says the growth can be attributed to strong partnerships with cross categories and contracts with long standing partners which include Disney, Hasbro, Mattel and Paramount, including range extensions and new product development. Multiple new contracts with new licensors include Acamar Films (Bing) and further partnerships soon to be announced.

Looking ahead, Sambro is confident it will continue its growth trajectory thanks to a strong future order book, and aims to double the size of the business over the next three years. To support these targets, Sambro will work in-depth across licensed partners and their brand portfolios, as well as identify partnerships with new licensors which have a point of difference in the market space.

Sambro is also committed to continued investment across its own IP, including the expansion and development of the Love & Hugs portfolio and further innovations across other ranges including Puzzle Palz and Bops N Tops.

A people first approach to business has seen the company grow its team from 96 to 110 over the last 12 months, including ten international roles to support overseas growth.

Paul Blackaby added: “We are now focused on the next 12 months and have ambitious plans for further development and growth. Our core business strategy for this next trading period is to work even more closely with our licensed partners’ brand portfolios, as well as introducing new partners.

“The business also remains committed to our ‘one business’ European expansion and our pan-European growth strategy will be supported by our 110 strong team in the UK and our Amsterdam-based European hub.”

Look out for an exclusive article in the November issue of Toy World about how Sambro has been quietly transforming from its pure value roots into a company with heightened ambition.

The interview with Paul Blackaby can be found here.