Mattel reports fourth quarter and full year 2020 financial results

Ynon Kreiz, chairman and CEO, said he could not be more proud of the entire Mattel global team for having stepped up in an extremely tumultuous year

Written by Mark Naish

Posted 11.02.2021 | Business

Mattel reports fourth quarter and full year 2020 financial results thumbnail

Mattel’s posted results covered both the fourth quarter and full year 2020. Both periods saw growth despite the trading challenges Covid presented globally. 2020 saw a 2% net sales increase exceeding $4.5 bil for the year. The fourth quarter saw a 10% increase in net sales reaching over $1.6 bil.

EMEA saw a year-on-year growth of 12% in constant currency, there were also double-digit gains for the company in North America. This was an excellent performance for Mattel’s two largest markets.

Ynon Kreiz, Chairman and CEO of Mattel said: “This was a banner quarter for the company with our best performance in years. In the midst of a pandemic and very challenging market conditions, our results exceeded expectations, with another major upswing in topline and a significant increase in profitability, as we gained global market share and continued to transform Mattel into an IP-driven, high performing toy company. The fourth quarter and full year demonstrated the resilience of the toy industry and the priority that parents place on quality toys, trusted brands and purposeful play. Our momentum was driven by the quality and breadth of our product offering, enduring strength of our brands, highly efficient supply chain, world-class commercial capabilities and very effective demand creation, in close collaboration with our retail partners. The continuous improvement in our performance puts us in a strong position from which we believe we can accelerate our growth.

According to NPD’s Group Retail Tracking Service Mattel outpaced the industry in Q4 2020 and grew approximately five times faster than the industry for the full year.

A new “Optimizing for Growth” program was also announced to drive greater productivity to accelerate growth and to further reduce costs, with expected savings of $250 million by 2023

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