OUR 2015/2016 PERFORMANCE REPORT

“This year has been marked by a number of significant changes for TOP-TOY. New owners have come on board along with a new Board of Directors. TOP-TOY now has a new CEO and new head office. I see great potential in our organisation, and I am confident that exciting times and growth are ahead for TOP-TOY…”

HIGHLIGHTS OF THE YEAR

2015-eqt

Partnership with EQT

TOP-TOY entered a partnership with EQT. EQT is now the majority shareholder in the company, while the founding Gjørup family still owns approximately 24%. Changes were also made to the Board of Directors and a new chairman appointed.

 torp-laursen-4-3

New CEO

In spring 2016, Søren Torp Laursen joined TOP-TOY as CEO. Søren comes with solid experience in the toy business from 29 years of working for LEGO.

vallensbaek

New head office

In March 2016, we moved our Danish head office from Tune, Roskilde to new modern facilities closer to Copenhagen (Vallensbæk).

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New BR store design

In October 2015, we finalised the implementation of the new BR store design, which aims to improve our customers’ shopping experience. More than 210 stores in our Nordic markets now enjoy the new, modern look.

2016-norstar

Closure of NORSTAR

On 1 January 2016, we completed the closure of our wholesale business, NORSTAR.

FINANCIAL PERFORMANCE

Key figures in DKK million2013/20142014/20152015/2016
Revenue3,9654,0073,917
Adjusted revenue*3,3363,4243,538
Adjusted EBITDA**185.2226.7165.4
Profit before tax63.6103.16.6
Adjusted EBITDA margin5.6%6.6%4.7%

*) Adjusted revenue excludes wholesale revenue
**) Adjusted EBITDA excludes discontinued wholesale activities, consultancy costs for strategic projects, reorganisation and movement of HQ to Vallensbæk

STORE NETWORK

We optimise our store network continuously by opening new stores in markets with growth potential and closing unprofitable stores.

Number of stores2013/20142014/20152015/2016
BR250244249
TOYS”R”US525360
Total302297309

EMPLOYEES

Number of employees2013/20142014/20152015/2016
Full-time employee equivalent2,2582,1772,228
Employees working within the year6,0306,132

Diversity

Our aim is to continue progressing towards our long-term commitment to hire and promote women at top management level. Our long-term goal for diversity in our Board of Directors is that two board members should be women in 2019/2020. In 2015/2016, the number of women on the board decreased. In light of our goal, this development is naturally unsatisfactory. Our 2015/2016 target was that around half of all new managerial appointments should be women. We will maintain this target until a balanced gender distribution has been achieved. In 2015/2016, the target was only reached for new middle manager employees.

Women and men in top management2014/2015
Women
2014/2015
Men
2015/2016
Women
2015/2016
Men
Board of Directors17%83%0%100%
Executive Management Team (EMT)0%100%0%100%
Top Management Team (TMT)38%62%23%77%
Middle managers26%74%31%69%
Store managers67%33%65%35%
Entire top management59%41%60%40%
New appointments to managerial positions 2015/2016
Women
2015/2016
Men
Board of Directors0 (0%)4 (100%)
Executive Management Team (EMT)0 (0%)1 (100%)
Top Management Team (TMT)0 (0%)3 (100%)
Middle managers5 (62%)3 (38%)
Entire top management5 (31%)3 (38%)

RECALLS

At TOP-TOY, our objective is zero recalls. Whenever it comes to our attention that something is wrong with one of our products, we initiate a recall rather than compromise children’s safety.

Our recall process is transparent and involves close collaboration with suppliers, licensors and relevant authorities to alert them and arrange for necessary actions.

In 2015/2016 a new version of the OUTRA PLAY 3-IN-1 SWING was recalled after we received feedback from customers who experienced that the rope of the swing could slide.

2013/20142014/20152015/2016
Number of recalls211

THE FACTORIES THAT PRODUCE OUR PRODUCTS

Our sourcing countries

Our key sourcing markets are China and several other Asian countries. More than 70% of our product volume comes from these markets, where the biggest toy producers in the world are located.

Factory certification and audits

Once a year, factory performance and progress are monitored via audits, conducted either by us or, in most cases, by third party auditing bodies, such as the ICTI Care Process, SA8000 Certification and the Business Social Compliance Initiative (BSCI).

ENVIRONMENTAL PERFORMANCE

Stores with LED lighting

While redesigning our BR stores in 2015, we took the opportunity to introduce LED lighting to our Nordic BR stores. As a result, these stores have reduced their energy consumption by around 60%, corresponding to a reduction in COemissions of approximately 1,800 tonnes. Read more here.

2014/20152015/2016
Stores with LED lightning at year-end35%70%

Sales of our FSC-certified BR Wood product line

In September 2014, we introduced our responsible BR Wood product line, made with FSC-certified wood.

2014/20152015/2016
Number of FSC-certified BR Wood products sold105,365135,635

*) As the product line was introduced in September 2014, the data for 2014/2015 does not cover July and August 2014.

ANNUAL REPORTS FROM PREVIOUS YEARS

TOP-TOY A/S | Delta Park 37 | DK-2665 Vallensbaek Strand | Denmark | +45 4616 3656
Cookie Policy | Terms and conditions |©TOP-TOY A/S 2016 All rights reserved
TOYS“R”US, the TOYS“R”US & Star design and the Giraffe design are registered trademarks of Geoffrey, LLC. TOP-TOY A/S is a licensee of Geoffre y, LLC.