(MT Newswires) -- Mattel CEO Ynon Kreiz reports double-digit revenue and profit growth in the fourth quarter, with significant margin expansion. The company generated more than $700 million in free cash flow (FCF), two and a half times more than the previous year. Mattel announces a $1 billion share buyback programme.
Barbie continues to enjoy considerable success, thanks in particular to the film dedicated to the doll. For Fisher-Price, the brand records double-digit growth in the fourth quarter and dominates the infant and toddler toy category, while continuing to increase its market share.
Fisher-Price is currently adjusting its strategy to expand its core toy ranges, while exiting less profitable segments.
In terms of portfolio strategy, Kreiz highlights the hiring of Christopher Farrell as Chief Strategy Officer. The aim of this move is to explore M&A opportunities to strengthen the company's growth, while maintaining a healthy capital structure with a gearing ratio of 2x to 2.5x.
Mattel also plans to release a number of films based on its iconic brands to stimulate demand for the associated products.