Although toy manufacturer Simba Dickie (Fürth / Germany; www.simba-dickie.com) reported a 5% drop in consolidated sales to EUR 500m in 2009, the company's managing director Manfred Duschl believes this decline had nothing to do with the overall economic situation and the financial crisis. Speaking at the group's annual press conference, he said the crisis had not yet reached Simba Dickie or the toy industry in general.
Duschl said the contraction in sales was related to revenues generated in US dollars being translated into euros. Moreover, the group had deliberately scaled back or avoided "unhealthy transactions last year. Simba Dickie's earnings and financial situation "remains sound, Duschl said, pointing out that, despite lower revenues, earnings had actually improved thanks to careful inventory and receivables management.