Goodbaby International Holdings Limited Announces Revenue Performance for the Nine Months Ended 30 September 2022

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Nov 04, 2022, 05:18 ET

HONG KONG, Nov. 4, 2022 /PRNewswire/ -- Goodbaby International Holdings Limited ("Goodbaby International" or the "Company", HKEX stock code: 1086, together with its subsidiaries, the "Group"), a leading global parenting products company, today announced its unaudited revenue performance for the nine months ended 30 September 2022 (the "Period"), with revenue reaching approximately HK$6,442.8 million.

During the Period, the revenue of CYBEX brand amounted to approximately HK$2,443.5 million, representing a slight decrease of 3.2% (a 7.7% increase on a constant currency basis). Revenue growth was strong in the first quarter, but it was tempered in the second and third quarters mainly by lingering global logistic supply challenges, high inflation and geopolitical conflict in Europe affecting consumer confidence and unfavorable foreign exchange fluctuations. The brand's fundamental strength remained robust, which is supported by its strong brand position and product portfolio (both car seats and wheeled goods). It continued to expand and fortify its global omni-channel distribution network and outperform competitions.

As for gb brand, it made revenue of approximately HK$1,143.1 million. In its key China market, gb brand was affected by the closures of offline store and consumer traffic and confidence decrease caused by government anti-pandemic restrictions, as well as the continuing birth rate decline. During the Period, gb continued to right-size its commercial operations to adapt to the new situation and focus on transforming the brand.

Evenflo brand continued to generate record revenue at a very positive 27.9% growth rate YoY (a 26.1% increase on constant currency basis) during the Period, and notably enlarged its market share. The strong growth momentum was primarily derived from continued growth of business via digital channels and strong consumer acceptance of innovative products, and enhanced product portfolio and image of the brand.

The revenue of Blue Chip business amounted to approximately HK$723.0 million. The revenue was impacted by a slowdown in customer orders with customers and retailers destocking. Overall, Blue Chip business relationship remained stable and sound.

Goodbaby International's CEO Mr. Martin Pos said, "The global economy is being clouded by uncertainties and volatility stemming from the high inflation and geopolitical conflict in Europe and fluctuating foreign exchange rates. Thus, we remain extremely cautious about overall macro situations and our key focus will continue to be implementing all necessary control measures and set strategies to improve profitability and better manage cash."

About Goodbaby International Holdings Limited

Goodbaby International Holdings Ltd. (Stock code: 1086) is a world-leading parenting products company. The Group serves millions of families around the world through design, research and development, manufacture, marketing and sales of children's car safety seats, strollers, apparel and home textile products, feeding, nursing and personal care products, cribs, bicycles and tricycles and other children's products.

SOURCE Goodbaby International