Group Revenue Achieves Double-Digit Growth
CYBEX Sets Another Revenue Record
HONG KONG, Nov. 8, 2024 /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 announced its unaudited revenue performance for the nine months ended 30 September 2024 (the "Period"). The Group achieved a year-on-year revenue growth of 11.8% (an 11.2% increase on a constant currency basis) to approximately HK$6,492.5 million for the Period.
During the Period, CYBEX continued to perform well and recorded solid revenue growth of 21.2% (a 20.1% increase on a constant currency basis) to approximately HK$3,312.9 million, setting another record high. With its strong brand position, innovative products, and global omni-channel distribution network, CYBEX has continued to build stronger growth momentum quarter after quarter, gaining significant market share across all major product categories and key markets, even amid a challenging market environment. As for Evenflo, the brand's revenue increased by 7.4% (a 6.9% increase on a constant currency basis) to approximately HK$1,775.4 million. Through continuous innovation, Evenflo is committed to improving the lives of consumers with accessible value, and its innovative products are also continuing to gain market recognition. The Blue Chip business showed notable recovery with significant revenue growth as the negative impact of customers' destocking activities came to an end. The Group's revenue also increased as a result. During the Period, the gb brand continued to undergo commercial right-sizing and brand transformation in its key market of China, enriching its categories with new product launches and upgrading existing products.
Mr. Tongyou LIU, Executive Director and Group CEO of Goodbaby International, said, "Under the current macro environment, affected by factors such as ongoing geopolitical conflicts, rising sea freight costs and declining birth rates, the market as a whole has remained full of uncertainties. Nevertheless, we have achieved double-digit revenue growth in the first three quarters of 2024, demonstrating the effectiveness of our one-dragon vertically integrated platform and brand-driven strategy. Looking ahead, we will further develop our core brands, support the growth of the Blue Chip business, lead development with innovation, and earn trust through quality. Our aim is to provide higher quality products to families around the world and create a better parenting experience."
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.
For more information, please visit Goodbaby's corporate website: www.gbinternational.com.hk.