Q4 2017 revenue increases 30%, driving 107% growth in adjusted EBITDA.
The company’s revenue increased 30.3% to $440.9m, up from $338.4m. Gross product sales increased 28.6% to $483.9m, up from $376.2m.
Globally, gross product sales increased just under 17% in North America, 34% in Europe and 94% in the rest of world.
Gross product sales in the Activities, Games & Puzzles and Fun Furniture segment increased 20% in Q4, driven by sales of the Cool Maker branded products, Dr. Dreadful, the games portfolio and Etch A Sketch. The RC and Interactive Characters segment increased 114.7% in Q4, thanks to the success of Hatchimals, Hatchimals Colleggtibles and Luvabella. This offset a decline in Air Hogs and Zoomer.
The Boys Action and High-Tech Construction segment increased 5.6% in Q4, while the Pre-School and Girls segment decreased 18.2% in Q4, with decreases in Brightlings, Chubby Puppies, Power Puff Girls licensed products and Paw Patrol.
Growth has been reported for the company’s Outdoor segment too, which increased 2.7% in Q4, driven by products under the Swimways, Kelysius and Coop brands.
Ben Gadbois, Spin Master’s president & COO, commented: “We are very pleased with our execution in 2017 against Spin Master’s four growth strategies. Anchored by our global, collaborative innovation capabilities and the discipline of our 36 month brand innovation pipeline, we delivered breakthrough, category-defining products with global appeal such as Hatchimals Surprise, Soggy Doggy and Luvabella.
Ben continued: “We are seeing the results of our efforts to increase sales in existing and new markets. International sales continued to grow and our new direct markets in Australia, China and Central and Eastern Europe, exceeded our expectations. “