Goodbaby International Holdings Limited Announces Revenue Performance for the Three Months Ended 31 March 2022

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May 12, 2022, 06:38 ET

Revenue Reaches a Record of HK$2,233.6 Million

CYBEX and Evenflo Brands Achieve Strong Revenue Growth

HONG KONG, May 12, 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, has today announced its unaudited revenue performance for the three months ended 31 March 2022 (the "Period"). The Group generated revenue of approximately HK$2,233.6 million, representing a record for the first quarter with a growth rate of 7.1% year-on-year ("YoY") (8.1% increase on a constant currency basis^[1]).

During the Period, CYBEX brand continued its strong revenue growth at a rate of 15.6% (22.1% increase on a constant currency basis) YoY to reach a record first quarter revenue. Its strong brand position and product portfolio (in both car seats and particularly wheeled goods), fortified global operations, the continuous launch of new products and categories and ongoing expansion of global omni-channel distribution of CYBEX contributed to the strong positive revenue momentum across all key global markets, where the respective market shares also expanded.

The revenue performance of Evenflo brand reached a record first quarter total and growth rate of 31.0% YoY (29.9% increase on a constant currency basis) during the Period, primarily driven by continued strong consumer reaction to innovative new products in North America. Despite ongoing supply chain challenges in North America and an unfavorable foreign exchange rate, Evenflo continued to outperform the competition.

Revenue of gb brand amounted to approximately HK$422.9 million. In its key China market, the revenue performance was negatively impacted by the COVID-19 related restrictions causing retail store closures, logistics delivery disruption and the suspension of wholesale activities. gb continues to proactively right-size the commercial operations to adapt to the new situation and declining birth rate in China.

The Blue Chip business revenue amounted to approximately HK$287.0 million, representing a growth rate of 8.1% (6.1% increase on a constant currency basis) YoY, mainly due to the continued increasing orders from its customers.

Goodbaby International's CEO Mr. Martin Pos concluded, "The Group is facing continued disruption of its supply chain due to COVID-19 lockdowns in China and regional instability in Europe. We are actively working to mitigate these challenges and as a result it is not prudent at this time to provide a forward looking view of how these challenges will impact the Group's 2022 financial performance."

For more details, please refer to the announcement:

https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0512/2022051200258.pdf

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.

Note:

[1] The constant currency basis is the weighted growth rate on each original currency revenue.

SOURCE Goodbaby International