Chairman and CEO
attended a White House roundtable meeting with
and leading U.S. CEOs yesterday to discuss supply chain and the holiday shopping season in the U.S.
said: “I was encouraged by President Biden’s commitment to support the private sector in mitigating supply chain disruptions, including in particular port congestion. Mattel appreciates the Administration’s leadership in helping to focus attention and resources on this important area.
We continue to work through supply chain challenges and collaborate closely with our valued retail partners to try to meet the unprecedented demand for our product. We are confident that there will be plenty of Mattel toys for children of all ages to enjoy this holiday season.
The toy industry is growing and it is expected to continue to grow as children, parents and caregivers have made play a bigger part of their lives. We are grateful for the invitation to share information with the White House about Mattel’s perspective on supply chain and the toy industry’s preparation towards the holiday season. We look forward to continuing the dialogue.”
Separately today, in speaking at the Nasdaq 45th Investor Conference, Kreiz added: “The fourth quarter is off to a good start. With less than a month of shopping days for the holidays, we feel good about the holiday season and expect to continue growing and gain market share in the fourth quarter in line with our guidance.”
further noted that Mattel is on track to achieve its highest full-year growth rate in decades. On its third quarter 2021 earnings call, the company raised guidance for the third time this year for both
in constant currency and Adjusted EBITDA for the full year in 2021. The company expects net sales this year to increase by approximately 15% in constant currency and Adjusted EBITDA to be in the range of $900-925 million. The company reiterated that guidance at today’s Nasdaq 45th Conference, which can be viewed here.
The Global toy industry is forecast to grow +5.4% CAGR the next five years through 2025. Global Toys have experienced 10 consecutive years of growth and all-time highs and are estimated to top $100 billion in 2023. (Source: Euromonitor Traditional Toys & Games Research 2021, USD current/nominal value, 2020 fixed exchange rate).
Non-GAAP Financial Measures
A reconciliation of Mattel’s non-GAAP financial measures on a forward-looking basis, including
on a constant currency basis and Adjusted EBITDA, is not available without unreasonable effort. Mattel is unable to predict with sufficient certainty items that would be excluded from the corresponding GAAP measure, including the effect of foreign currency exchange rate fluctuations, unusual gains and losses or charges, and severance and restructuring charges, due to the unpredictable nature of such items, which may have a significant impact on Mattel’s GAAP measures.
Mattel is a leading global toy company and owner of one of the strongest catalogs of children’s and family entertainment franchises in the world. We create innovative products and experiences that inspire, entertain, and develop children through play. We engage consumers through our portfolio of iconic brands, including Barbie®, Hot Wheels®, Fisher-Price®, American Girl®, Thomas & Friends®, UNO®, Masters of the Universe®, Monster High® and MEGA®, as well as other popular intellectual properties that we own or license in partnership with global entertainment companies. Our offerings include film and television content, gaming, music, and live events. We operate in 35 locations and our products are available in more than 150 countries in collaboration with the world’s leading retail and ecommerce companies. Since its founding in 1945, Mattel is proud to be a trusted partner in empowering children to explore the wonder of childhood and reach their full potential. Visit us online at mattel.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211130006108/en/