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    MAT   US5770811025

MATTEL, INC.

(MAT)
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Mattel : turning old Barbies, Matchbox cars and MEGA Bloks into new toys

05/11/2021 | 02:53pm EDT

May 11 (Reuters) - Toymaker Mattel is encouraging kids to return Barbies, Matchbox cars and MEGA Bloks they no longer play with to the company for recycling into new toys.

The goal of the company's new 'Playback' program is to recover and reuse materials across all products and packaging by 2030, Mattel said as it announced the program this week.

"Mattel's Playback program is a great step," said Jim Silver, CEO of TTPM, a toy industry research firm. "The consumer is becoming more and more concerned about the future and becoming more eco-friendly; manufacturers are starting to step up and start to try and make the environment better."

The company is encouraging consumers to ship their old toys back to Mattel, where they are sorted and separated by material type, processed, and recycled. Materials that cannot be recycled will be either "downcycled" or "converted to energy."

Last month, Mattel unveiled the Matchbox Tesla Roadster, its first vehicle made from 99% recycled materials and carbon.

Mattel is aiming to make all Matchbox die-cast cars, playsets and packaging with 100% recycled, recyclable or bio-based plastic materials by 2030.

"More and more manufacturers are going to be going down this road," Silver said. "I think Mattel, being one of the large companies in the industry, to start this recycling program, I think you can see others follow suit."

To participate in the program, consumers can visit Mattel.com/PlayBack, print a free shipping label, and pack and mail their outgrown Mattel toys back to Mattel. (Reporting by Aleksandra Michalski, Editing by Dan Grebler)


© Reuters 2021
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Financials (USD)
Sales 2021 4 982 M - -
Net income 2021 223 M - -
Net Debt 2021 1 941 M - -
P/E ratio 2021 32,9x
Yield 2021 -
Capitalization 7 324 M 7 324 M -
EV / Sales 2021 1,86x
EV / Sales 2022 1,69x
Nbr of Employees 32 100
Free-Float 78,7%
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 24,97 $
Last Close Price 21,00 $
Spread / Highest target 42,9%
Spread / Average Target 18,9%
Spread / Lowest Target 9,52%
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Managers and Directors
NameTitle
Ynon Kreiz Chairman & Chief Executive Officer
Richard L. Dickson President & Chief Operating Officer
Anthony P. DiSilvestro Chief Financial Officer
Sven Gerjets Chief Technology Officer & Executive VP
Michael J. Dolan Lead Independent Director
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