WORLD NEWS

Simba Dickie announces results for 2019

Published on: 28th January 2020

Last year the Simba Group along with Big, Corolle and ZimpliKids remained roughly on par with the previous year, boasting consolidated sales of €199m. 

In 2019, the Simba Dickie Group achieved consolidated sales of €702.3m, compared to the previous year with consolidated sales of €616m. Manfred Duschi, CFO of the internationally renowned group of companies from Fürth/Germany, said it represents an increase of 14%.

He added: “The majority of this very pleasing growth in sales is attributable to sales of our new acquisitions in the past year.” The French doll supplier Corolle and the US company Jada Group became new members of the Simba Dickie Group – it is the first time that sales of these two companies have been included for a 12-month period. But even without the positive impact on sales from these new acquisitions, the Simba Dickie Group was able to increase its total sales year-on-year by around 1%.

Manfred said: “If you consider that we continue to operate in a very difficult market environment with problems in many parts of the world, this development can be seen as a great achievement. Due to the change in status of our business in Russia in 2018 from a subsidiary to a distribution model and as a result of the insolvencies affecting key market participants in 2019, very high shares of sales have been lost. It is obviously not possible to compensate these losses from one day to the next. Yet another positive aspect is that the overall quality of sales improved further in 2019.”

The Dickie Group has reported a positive development in consolidated sales with an increase of approx. 9.1%, from €104.3m in the previous year to €113.8m now. The group attributes this success to direct sales of the affiliate in Hong Kong to Europe, and especially to the US.

The Smoby Group has ended the negative sales trend of the previous year, which was caused by the insolvencies of the Ludendo Group and Toys R Us in 2018. The consolidated sales of the Smoby Group rose in 2019 by 4.6% – from €96.8m in the previous year to €101.3m.

At the foreign subsidiaries, the 2019 consolidated sales remained roughly on a par with the previous year at €207.3m. The total sales of the foreign subsidiaries amounted to €211.9m in 2018.

The international share of the Simba Dickie Group’s earnings is roughly 72%. The Group’s main export nations in 2019 were France, the USA and Italy. The company also report a rise of worldwide employees to 3,090 at the end of 2019, compared to 2,940 in 2018.

“In 2020, there are many unanswered questions surrounding political, economic and monetary policy developments around the world. A recession in Europe, but also in Germany, can no longer be completely ruled out during the current year. The market environment will remain difficult this year,” predicts Manfred Duschl. “Despite this, the Simba Dickie Group expects to be able to hold its own in the market and plans to increase consolidated sales by 3.2%.”

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