Mattel's Chairman and CEO, Ynon Kreiz, and CFO, Anthony DiSilvestro, provided a strategic update at the UBS 2025 Global Consumer and Retail Conference on March 13, 2025. Kreiz highlighted the company's significant financial transformation since 2018, with adjusted EBITDA growing from $126 million to over $1 billion in 2024.
Kreiz noted that adjusted gross margin improved from the 30s to the low 50s, and free cash flow shifted from a negative $325 million to a positive $600 million. The company's leverage ratio improved to 2.2x, achieving an investment-grade rating, and Mattel ended 2024 with $1.4 billion in cash after repurchasing $400 million in shares.
DiSilvestro expressed confidence in Mattel's 2025 constant currency growth guidance of 2% to 3%. This growth is expected to be driven by strong performance in Hot Wheels and UNO, theatrical tie-ins with movies like 'Snow White,' 'Wicked 2,' 'Jurassic World,' and 'Minecraft,' the continued rollout of Fisher-Price Wood, and the expansion of WWE products.
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