(AOF) – Mattel, whose stock rose by around 2% pre-market, anticipates a profit for this year of between 1.35 and 1.45 dollars per share, against a consensus of 1.37 dollars. The American toy giant generated sales of $1.62 billion, up 16% year-on-year in the fourth quarter. Growth was supported by dolls (+29%), notably Barbie (+27%), which rode on the eponymous film, the biggest box office success of the year.
For the current year, Mattel expects its turnover to be stable at constant exchange rates.
“We expect the toy industry to decline in 2024, although at a more moderate rate than in 2023,” warned the American firm.
In an uncertain and unfavorable context, the group will launch a new cost reduction program, which targets $200 million in savings by 2026.
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