(1) Non-IFRS term. See 2015 Management Discussion and Analysis for definition of term. Non-IFRS financial measures. Non-IFRS measures do not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS”) and are therefore unlikely to be comparable to similar measures presented by other issuers. Please refer to the section entitled “Non-IFRS Financial Measures” in the Management Discussion and Analysis within this Annual Report for a discussion of the definition, components and uses of such non-IFRS measures, as well as a reconciliation of such non-IFRS measures to IFRS measures (where a comparable IFRS measure exists).
(1) Contains NonIFRS terms. See 2015 Management Discussion and Analysis for definition of term. NonIFRS financial measures. NonIFRS measures do not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS”) and are therefore unlikely to be comparable to similar measures presented by other issuers. Please refer to the section entitled “NonIFRS Financial Measures” in the Management Discussion and Analysis within this Annual Report for a discussion of the definition, components and uses of such nonIFRS measures, as well as a reconciliation of such nonIFRS measures to IFRS measures (where a comparable IFRS measure exists).
(1) Compound Annual Growth Rate 2011–2015.
(1) Compound Annual Growth Rate 2011–2015.
(2) Excluding Bakugan of $151 and $38 respectively.
(2) Excluding Bakugan of $151 and $38 respectively.

THE
FUTURE
OF FUN!

Spin Master Annual Report | 2015

Letter to Shareholders(1)

In July 2015, Spin Master became a publicly traded company on the TSX, while generating record financial results including strong profitability and free cash flow.

DOWNLOAD THE LETTER (PDF)
Introduction

Letter to Shareholders(1)

In July 2015, Spin Master became a publicly traded company on the TSX, while generating record financial results including strong profitability and free cash flow.

DOWNLOAD THE LETTER (PDF)
 
NUMBER OF
EMPLOYEES
985
GROSS
PRODUCT SALES
983
US$ millions
REVENUE
879
US$ millions
 
Anton Rabie

Chair & Co-CEO

John Cassaday

Lead Director

Ronnen Harary

Director & Co-CEO

Completion of our IPO

Letter to Shareholders(1)

In July 2015, Spin Master became a publicly traded company on the TSX, while generating record financial results including strong profitability and free cash flow.

DOWNLOAD THE LETTER (PDF)

Completion of our IPO

2015 was a momentous year for Spin Master. Founded in 1994, Spin Master has grown from a startup to become a global competitor in the children’s entertainment industry. We completed an Initial Public Offering on the Toronto Stock Exchange on July 30, 2015, selling approximately 14.1 million Subordinate Voting Shares for total gross proceeds of approximately C$253.1 million. The shares trade under the symbol TOY.

The decision to take Spin Master public followed a comprehensive review of the children’s entertainment industry and our operations, financial strength and growth prospects. Through that process, we recognized that access to public capital markets would provide us with the opportunity to accelerate growth by leveraging, and further developing, the strong global platform that we have established.

 
INITIAL PUBLIC
OFFERING COMPLETION
07/30
2015
SUBORDINATE
VOTING SHARES
14.1
millions
TOTAL GROSS
PROCEEDS
253.1
C$ millions
 
Strong Financial Results

Letter to Shareholders(1)

In July 2015, Spin Master became a publicly traded company on the TSX, while generating record financial results including strong profitability and free cash flow.

DOWNLOAD THE LETTER (PDF)

Strong Financial Results

Our financial results for 2015, our first year as a public company, were very satisfying. We generated Gross Product Sales(1) totaling US$983 million, an increase of 21.1% from US$812 million in 2014. Over the past ten years, our Gross Product Sales(1) have increased at a 12.7% compound annual growth rate. For the twelve months ended December 31, 2015, revenue increased by 22.9% from US$716 million for the same period in 2014 to US$879 million in 2015. In constant currency terms,(1) revenue increased by 26.9% relative to 2014.

Gross profit in 2015 increased to US$459 million, or 52.2% of revenue, compared with US$358 million, or 50% of revenue in 2014. Net income for the year was US$47.1 million, or US$0.48 per share, a decrease of 24.3% from US$62.2 million in 2014. Adjusted Net Income(1) was US$98.6 million, or US$1.04 per share, up 48.7% from US$66.3 million in 2014. Adjusted EBITDA(1) for the year increased to US$160 million, up 43.5% from US$112 million in 2014. Adjusted EBITDA(1) margins increased to 18.2% from 15.6% in 2014, reflecting higher gross profit, increased licensing and merchandizing revenue, and operating leverage.

 
ADJUSTED EBITDA
160
US$ millions
GROSS PRODUCT SALES
GROWTH
21.1%
2015 vs. 2014
ADJUSTED EBITDA GROWTH
43.5%
2014 vs. 2015
 
Growing our Business

Letter to Shareholders(1)

In July 2015, Spin Master became a publicly traded company on the TSX, while generating record financial results including strong profitability and free cash flow.

DOWNLOAD THE LETTER (PDF)

Growing our Business

Spin Master has four major growth strategies, which are expected to drive mid to high single digit organic gross product sales growth over the medium to long-term.
First, we will continue to innovate across our portfolio of brands. Our competitive strength lies in our ability to constantly create meaningful innovation for our consumers. Second, we will develop evergreen global entertainment properties. We plan to leverage our current properties and develop 1–2 new properties per year. This will allow us to expand product margins and grow auxiliary revenue streams. Third, we plan to increase sales in international markets. At the end of 2015, our sales outside of North America were only 30% of our total compared with approximately 72% for the industry, underlining the significant opportunity we are seeking to exploit. Fourth, we will leverage our global platform though strategic acquisitions. We are focused on acquiring kid-focused intellectual property and brands, infusing them with our innovation expertise and growing them globally. The acquisitions of Cardinal Industries Inc. in 2015 and Editrice Giocchi SRL and the Etch-A-Sketch and Doodle Sketch brands in early 2016 highlight our ongoing strategic acquisition strategy.

Partnerships

Spin Master has been built on the success of our strategic partnerships. When we combine our strengths with those of our partners – including inventors, retailers, licensors, broadcasters, writers, directors and animation studios – we create significant value. We welcome you as our new partners and look forward to continued success.

Anton Rabie

Chair & Co-CEO

Ronnen Harary

Director and Co-CEO

John Cassaday

Lead Director

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Financial Information(1)

Spin Master continues to grow at a faster rate than the children’s entertainment industry as a whole, while generating strong profitability and significant free cash flow. Spin Master maintains a conservative capital structure that will support continued growth.

DOWNLOAD THE FINANCIAL INFORMATION (PDF)
Hide This 2-1
+26.9%
Gross Product Sales(1)
CAGR 2012-2015
$481
$577
$812
$983
2012
2013
2014
2015
(US$ millions)
+28.1%
Revenue
CAGR 2012-2015
$418
$508
$716
$879
2012
2013
2014
2015
(US$ millions)
+33.7%
Gross Profit
CAGR 2012-2015
$192
$245
$358
$459
2012
2013
2014
2015
(US$ millions)
Hide This 2-2
+73.7%
Adjusted EBITDA(1)
CAGR 2013-2015
($23)
$53
$112
$160
2012
2013
2014
2015
(US$ millions)
+57.0%
Net Income
CAGR 2013-2015
($39.7)
$19.1
$62.2
$47.1
2012
2013
2014
2015
(US$ millions)
+107.5%
Adjusted Net Income(1)
CAGR 2013-2015
($34.4)
$22.9
$66.3
$98.6
2012
2013
2014
2015
(US$ millions)
Gross Product Sales, Revenue
+26.9%
Gross Product Sales(1)
CAGR 2012-2015
$481
$577
$812
$983
2012
2013
2014
2015
(US$ millions)
+28.1%
Revenue
CAGR 2012-2015
$418
$508
$716
$879
2012
2013
2014
2015
(US$ millions)
Gross Profit, Adjusted EBITDA
+33.7%
Gross Profit
CAGR 2012-2015
$192
$245
$358
$459
2012
2013
2014
2015
(US$ millions)
+73.7%
Adjusted EBITDA(1)
CAGR 2013-2015
($23)
$53
$112
$160
2012
2013
2014
2015
(US$ millions)
Net Income, Adjusted Net Income
+57.0%
Net Income
CAGR 2013-2015
($39.7)
$19.1
$62.2
$47.1
2012
2013
2014
2015
(US$ millions)
+107.5%
Adjusted Net Income(1)
CAGR 2013-2015
($34.4)
$22.9
$66.3
$98.6
2012
2013
2014
2015
(US$ millions)
Gross Product Sales
+26.9%
Gross Product Sales(1)
CAGR 2012-2015
$481
$577
$812
$983
2012
2013
2014
2015
(US$ millions)
Revenue
+28.1%
Revenue
CAGR 2012-2015
(US$ millions)
$418
$508
$716
$879
2012
2013
2014
2015
Gross Profit
+33.7%
Gross Profit
CAGR 2012-2015
(US$ millions)
$192
$245
$358
$459
2012
2013
2014
2015
Adjusted EBITDA
+73.7%
Adjusted EBITDA(1)
CAGR 2013-2015
(US$ millions)
($23)
$53
$112
$160
2012
2013
2014
2015
Net Income
+57.0%
Net Income
CAGR 2013-2015
(US$ millions)
($39.7)
$19.1
$62.2
$47.1
2012
2013
2014
2015
Adjusted Net Income
+107.5%
Adjusted Net Income(1)
CAGR 2013-2015
(US$ millions)
($34.4)
$22.9
$66.3
$98.6
2012
2013
2014
2015
DOWNLOAD THE FINANCIAL INFORMATION (PDF)
<
>

Growth Strategies

Innovate across the portfolio
REPLAY

Innovate across the portfolio

  • Leverage our internal and external global R&D capabilities to build a deep product pipeline
  • Continue to invest in advanced technologies
  • Strategically acquire entertainment licenses to build product pipeline
  • Drive cross-platform exploitation of toys and mobile gaming
Grow international sales
Develop evergreen global entertainment properties
Leverage our global platform through strategic acquisitions
DOWNLOAD THE GROWTH STRATEGIES (PDF)
<
>
REPLAY
REPLAY
REPLAY
Remote Control & Interactive Characters

Remote Control & 
Interactive Characters

DOWNLOAD THE BUSINESS SEGMENTS (PDF)

Market Strategy

Our Remote Control business is targeted at boys aged 6–11 and emphasizes dynamic motion. Air Hogs is marketing driven, focused on product innovation, strategic...

READ MORE
+

New for 2016

In addition to an expanded Star Wars line, the Air Hogs Batmobile will launch in conjunction with the Batman vs Superman movie. Also, in conjunction with a new...

READ MORE
+

In the mid 1990s, model planes were only available from hobby stores and required glued assembly, gasoline, and adult supervision. In 1996...

READ MORE
+

Market Strategy

Our Remote Control business is targeted at boys aged 6–11 and emphasizes dynamic motion. Air Hogs is marketing driven, focused on product innovation, strategic product line development and strategic licensing. For 2016 we intend to introduce a new category of connected toys to keep Air Hogs as the category innovator while attracting older “gamer” consumers, and a preschool line of remote control toys.

The Interactive Characters business targets girls and boys aged 6–9 years. We will drive innovation through our leading-edge robotics expertise blending technology and compelling characters, bringing them to life for children. We will expand our offering to include lower retail price points.

New for 2016

In addition to an expanded Star Wars line, the Air Hogs Batmobile will launch in conjunction with the Batman vs Superman movie. Also, in conjunction with a new Star Trek movie, we’ll be introducing the first ever-flying Starship Enterprise, as well as a Thunderbirds licensed product line. We are launching Air Hogs Connect, an exciting new 3D-augmented reality technology gaming system, which brings the world of physical toys together with a digital game experience. We will continue to develop the Air Hogs Connect line with new technology and exciting licensed applications.

Interactive Characters will introduce new technology in our high-end Zoomer products, including “True Expression Technology”, and innovative animated face technology, launched on the Zoomer Chimp. Our exciting new Hatchimals product will be a big focus, launching with revolutionary, patented “auto-hatching” technology.

Partnership with Inventors

In the mid 1990s, model planes were only available from hobby stores and required glued assembly, gasoline, and adult supervision. In 1996, turned down by many other toy companies, two British inventors brought to Spin Master a prototype flying vehicle that was essentially a pop bottle with Styrofoam wings, powered by a miniature single-piston air-powered engine. Only Spin Master had the vision to see the mass market potential of the concept of a miniature air pressure motor. This led to the development of the Sky Shark, which became the genesis of the Air Hogs brand.

(US$ millions)
+9.5%(1)
Gross Product Sales
$162
$138
$158
$269
$233
2011
2012
2013
2014
2015
DOWNLOAD THE BUSINESS SEGMENTS (PDF)
Boys Action & High-Tech Construction

Boys Action & 
High-Tech Construction

DOWNLOAD THE BUSINESS SEGMENTS (PDF)

Market Strategy

Boys Action focuses primarily on products for 4 –8–year-olds, with a secondary market of older kids and collectors, who love the way our high-quality products bring...

READ MORE
+

New for 2016

In 2016, our Boys Action business will be the master toy licensee for a number of major upcoming movie properties including launching toy lines for Angry Birds, base...

READ MORE
+

Meccano was a brand with over 100 years of history that needed product innovation and fresh marketing. We leveraged our core strength in...

READ MORE
+

Market Strategy

Boys Action focuses primarily on products for 4 –8–year-olds, with a secondary market of older kids and collectors, who love the way our high-quality products bring top entertainment brands to life. We thrive on the cutting edge of what’s new for boys, from entertainment franchises to innovative technology. We intend to grow the business through partnering with world-class licenses, investing in our own entertainment content, expanding our product offering and distribution in specialty and value channels and broadening our distribution and marketing in Europe, Latin America, and Asia.

High-Tech Construction delivers engineering and robotics play for boys 6 and older. Meccano provides the budding engineer a system to graduate to. Our objective is to excel in engineering toys, through the introduction of new technology and materials that enhance the building and educational experience. Our growth strategy is to be the first brand to establish a segment of toys centered on engineering and robotics, with new offering across a wide variety of price points.

New for 2016

In 2016, our Boys Action business will be the master toy licensee for a number of major upcoming movie properties including launching toy lines for Angry Birds, based on the motion picture that’s re-launching the hit app franchise, and Secret Life of Pets, an animated comedy from the makers of the record-breaking Despicable Me franchise. We are continuing to develop Star Wars robotic items and have been working on a new original animated TV show.

In 2016, High-Tech Construction will continue to innovate across the Meccano brand with new materials, new build designs and new technologies, including the introduction of Meccanoid 2.0  with natural language interaction. In addition, we will offer simplified programming to a broader audience with Meccasaur T-Rex as well as an entry price point robotic line of Micronoids.

Growing by Acquisition

Meccano was a brand with over 100 years of history that needed product innovation and fresh marketing. We leveraged our core strength in innovation to acquire and infuse the brand with new life, evidenced by Meccanoid  winning the prestigious “Last Gadget Standing” at 2015’s Consumer Electronics Show.

(US$ millions)
+15.7%(1)(2)
Gross Product Sales
$107(2)
$70(2)
$134
$192
$192
2011
2012
2013
2014
2015
DOWNLOAD THE BUSINESS SEGMENTS (PDF)
Activities, Games & Puzzles and Fun Furniture

Activities, Games & Puzzles 
and Fun Furniture

DOWNLOAD THE BUSINESS SEGMENTS (PDF)

Market Strategy

The Activities business is targeted at girls and boys aged 2–10. We offer a wide range of products that integrate fashion, food and popular culture into innovative products that...

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+

New for 2016

Activities is launching a product line with the Build-A-Bear license, for which we are the exclusive toy partner, in addition to Pottery Cool, a new patented way to...

READ MORE
+

In 2010, we began the execution of a
targeted entry into the games business,
           a segment with a strong and
           consistent revenue...

READ MORE
+

Market Strategy

The Activities business is targeted at girls and boys aged 2–10. We offer a wide range of products that integrate fashion, food and popular culture into innovative products that have global appeal. Our products promote both gender specific and gender-neutral play patterns designed to teach children new skills and provide multiple outlets for creative play and expression. We are growing the business through brand building, focusing on Kinetic Sand, Bunchems, the recently acquired Etch-A-Sketch brand, and the Cool  line. We’re targeting global and channel expansion to increase our footprint, and entering into “basic activities” through our Entertainment and Preschool & Girls products.

Games and Puzzles targets not just children, but also families and adult gamers. Games and puzzles are the perfect antidote to an increasingly technological world and provides an emotional connection between family and friends. We are growing by acquiring business and titles, investing in existing brands such as Hedbanz, reinventing existing titles such as Beat the Parents, growing our global footprint through new market and product launches and introducing new game experiences.

Fun Furniture features our Marshmallow  line, aimed at boys and girls between 18 months and 4 years. Our objective is to provide kid-sized, comfortable furniture with the most popular children’s entertainment characters. Our growth strategy includes expanding Ecommerce and direct-to-consumer channel sales through product and licensing expansion, new formats and expanded price points.

New for 2016

Activities is launching a product line with the Build-A-Bear license, for which we are the exclusive toy partner, in addition to Pottery Cool, a new patented way to create with clay. We’re also planning a global expansion of Bunchems, the patented, soft, brightly colored plastic spheres that easily connect to make effortless, colourful creations; expansion of the Kinetic Sand  line including Kinetic Sand Disney play sets, which allow indoor sandbox play, and the global launch of Bendaroos.

Games and Puzzles will focus on growing the Cardinal business in 2016, both domestically and internationally, using Spin Master’s global distribution network. We will also leverage Cardinal’s strengths in the value channel to grow our existing Games and Puzzle business. New Hedbanz games, including the deluxe electronic version and licensed versions of the game, will be launched.

Our Marshmallow  line will feature new chairs and licenses. In addition to Frozen, PAW Patrol  and Mickey and Minnie, we are introducing Peppa Pig and Hello Kitty.

Entering New Categories

In 2010, we began the execution of a targeted entry into the games business, a segment with a strong and consistent revenue and cash flow profile. We made the platform acquisition of Imagination Games, and supplemented it with a number of new titles including Quelf, Perplexus, and Hedbanz. The 2015 acquisition of Cardinal Industries moved Spin Master into the #2 position in the North American games market, only five years after our initial entry. This position was supplemented in early 2016 by the acquisition of the Editrice Giocchi games business in Italy, which includes such well-known titles as Risiko and Scarabeo.

(US$ millions)
+4.7%(1)
Gross Product Sales
$192
$163
$140
$191
$231
2011
2012
2013
2014
2015
DOWNLOAD THE BUSINESS SEGMENTS (PDF)
Pre-school and Girls

Pre-school and Girls

DOWNLOAD THE BUSINESS SEGMENTS (PDF)

Market Strategy

The PreSchool business develops toys and children’s entertainment for boys and girls aged 2–5, while the Girls business focuses on girls aged 3–8. The PreSchool...

READ MORE
+

New for 2016

In the Pre-School business we will continue to develop the PAW Patrol  franchise globally. In 2016 we will launch PAW Patrol Season 3 on Nickleodeon together with...

READ MORE
+

Children’s entertainment programming easily travels across geographies, cultures and ethnicities, fueling strong growth in global demand...

READ MORE
+

Market Strategy

The PreSchool business develops toys and children’s entertainment for boys and girls aged 2–5, while the Girls business focuses on girls aged 3–8. The PreSchool business is driven by entertainment licensing – kids fall in love with aspirational characters. Our objectives are to drive innovation and exciting entertainment, keep the pipeline full with new product innovation and build global entertainment franchises, including developing PAW Patrol  into an evergreen franchise.

Our strategy in both Pre-School and Girls is to maintain a consistent pipeline of entertainment properties, with a particular focus on those that cross geographic and cultural boundaries. PAW Patrol  represents an excellent example of this strategy, and we continue to leverage its success with toys and licensing opportunities, driving licensing and merchandise revenue. We also see tremendous opportunities to enhance our product offerings for both the value and specialty channels.

New for 2016

In the Pre-School business we will continue to develop the PAW Patrol  franchise globally. In 2016 we will launch PAW Patrol Season 3 on Nickleodeon together with a number of innovative PAW Patrol  products. We will also launch a number of new entertainment and licensed Pre-School properties for 2016. We will launch Rusty Rivets on Nickelodeon and Treehouse in Fall 2016, Noddy in international markets and Masha and the Bear in North America. Rusty Rivets is an internally developed show targeted primarily at boys aged 2–5.

In the Girls business we have a robust pipeline of new product introductions including Brightlings, an interactive plush toy with a technology overlay and Chubby Puppies, collectible pets that each feature unique movements. In the Girls licensed products area, we have secured master toy licenses for Popples and the global re-launch of PowerPuff Girls.

Entertainment and Beyond

Children’s entertainment programming easily travels across geographies, cultures and ethnicities, fueling strong growth in global demand. Spin Master has successfully developed proprietary entertainment content including PAW Patrol  and Bakugan, enhancing toy sales in the toy categories as well as developing auxiliary licensing and merchandising revenue streams from the content itself.

(US$ millions)
+22.9%(1)
Gross Product Sales
$143
$72
$144
$161
$326
2011
2012
2013
2014
2015
DOWNLOAD THE BUSINESS SEGMENTS (PDF)
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>

Spin Master Team

Executive Officers

Ronnen Harary

Director and Co-Chief Executive Officer

Mr. Harary is a co-founder of Spin Master and is currently the Co-Chief Executive Officer. He, along with his co-founders, was a recipient of Canada’s Ernst & Young’s Entrepreneur of the Year in 1999 in the Emerging Entrepreneur Category and has been featured as a Top 40 under 40 executive for his achievements in Canada and the global marketplace. Since inception, Mr. Harary has played a key role in the Company’s operations and product development. He plays a major role in product development, building strategic relationships and as an acting visionary for the Company. Mr. Harary currently spends the majority of his time seeking out new business opportunities. Mr. Harary is responsible for establishing Spin Master as a world-class licensing partner and he continues to manage and build key relationships with the Company’s licensing partners all over the world. Mr. Harary earned a Bachelor of Arts degree in Political Science from The University of Western Ontario in 1994. Mr. Harary is on the board of directors for Futurpreneur Canada (formerly Canadian Youth Business Foundation), a national non-profit organization that provides financing, mentoring and support tools to aspiring business owners, a member of the Young Presidents Organization, a global peer network of chief executives and business leaders, and a member of the Milken Institute Young Leaders Circle, a non-profit, nonpartisan think tank.

Anton Rabie

Chair and Co-Chief Executive Officer

Mr. Rabie is a co-founder of Spin Master and is currently the Co-Chief Executive Officer. Mr. Rabie is a past member of the Supplier Council of the world’s top retailers. He, along with his co-founders, was a recipient of Canada’s Ernst & Young’s Entrepreneur of the Year in 1999 in the Emerging Entrepreneur Category and has been featured as a Top 40 under 40 executive for his achievements in Canada and the global marketplace. Since inception, Mr. Rabie has led Spin Master’s human resources, marketing and sales. He has been instrumental in developing Spin Master’s European presence and has worked directly with hundreds of retailers to build Spin Master’s North American and international sales network. Presently, Mr. Rabie plays a foundational role in Spin Master acquisitions, having led the Company’s acquisitions such as Tech Deck, Spy Gear, Cardinal and Meccano. Mr. Rabie earned an Honours Bachelor of Business Administration degree from the Richard Ivey School of Business at The University of Western Ontario in 1994. Mr. Rabie is actively involved in community organizations and sits on the board of directors for TIA CEO’s roundtable council.

Adam Beder

Executive Vice President of Global Licensing and Business Affairs

Mr. Beder was appointed Executive Vice President of Global Licensing and Business Affairs of Spin Master in 2013. Prior to this position, Mr. Beder has held various other senior management positions in his 16 year career at Spin Master. Mr. Beder earned a Bachelor of Arts degree from the University of British Columbia in 1996 and completed the Canadian Securities Course in 1995.

Mark L. Segal

Executive Vice President and Chief Financial Officer

Mr. Segal was Spin Master’s Chief Financial Officer from 2001 to 2011 and rejoined the Company in 2015. He has over 25 years of experience in financial management in both public and private companies where he has held a number of management level and board of director positions. Prior to re-joining Spin Master, from 2013 to 2015, Mr. Segal was VP Finance and Chief Financial Officer at Husky Injection Molding Systems, a supplier of injection molding equipment and services to the plastics industry. From 2011 to 2013, he was Chief Operating Officer at Canada Goose Inc., a producer of extreme weather outerwear. Mr. Segal graduated from the University of the Witwatersrand in Johannesburg, South Africa with a Bachelor of Commerce degree, Bachelor of Accountancy degree and a Master in Business Administration degree (cum laude).

Chris Beardall

Executive Vice President of Global Sales

Mr. Beardall was appointed Executive Vice President of Global Sales of Spin Master in 2009. Mr. Beardall started his career at Spin Master as Vice President of Product Development in 2000, was promoted to Senior Vice President Sales, North America in 2005. Prior to joining Spin Master, he spent 17 years in several management positions in Operations and Buying for discount retailers such as Woolco Department Stores and Wal-Mart. Mr. Beardall earned a Bachelor of Arts degree in Economics from Wilfrid Laurier University in 1983.

Ben J. Gadbois

Director, Global President & Chief Operating Officer

Mr. Gadbois joined Spin Master in 2012 as the Global President & Chief Operating Officer. He has over 21 years experience in public companies, primarily in the consumer packaged goods industry. Mr. Gadbois joined Spin Master from Newell-Rubbermaid, a consumer and commercial products company, where his most recent role was the Global President of the Markers, Highlighters, Art and Office Essentials business. During his 13 years with Newell-Rubbermaid, Mr. Gadbois also led several other businesses such as Rubbermaid, Pyrex, Irwin Hand Tools and Graco Europe / Middle East. Prior to this, Mr. Gadbois held positions at Black and Decker and Arthur Andersen. He earned a Bachelor of Science degree in Accounting from Salem State University in Massachusetts as well as the Chartered Professional Accountant and Certified Management Accountant professional designations. Mr. Gadbois also serves on various external private company boards.

Ben Varadi

Director, Executive Vice President and Chief Creative Officer

Mr. Varadi is a co-founder of Spin Master and is currently Executive Vice President and Chief Creative Officer. He, along with his co-founders, was a recipient of Canada’s Ernst & Young’s Entrepreneur of the Year in 1999 in the Emerging Entrepreneur Category and has been featured as a Top 40 under 40 executive for his achievements in Canada and the global marketplace. He plays an active role in product selection and development and his creative approach remains influential to Spin Master’s product selection. Mr. Varadi earned an Honours Bachelor of Business Administration degree from the Richard Ivey School of Business at The University of Western Ontario in 1994.

Bill Hess

Executive Vice President of Operations and Chief Information Officer

Mr. Hess was appointed Executive Vice President of Operations and Chief Information Officer of Spin Master in 2013. Mr. Hess has 26 years of consumer products experience and 18 years’ experience in senior 113 management roles in operations, supply chain, product development and information technology. Prior to joining Spin Master, Mr. Hess spent 19 years with Newell Rubbermaid, a global marketer of consumer and commercial products, where he was most recently the Group Vice President Supply Chain — Consumer Group, a position he held from 2010 to 2013. Mr. Hess earned a Bachelor of Science degree in Computer Science from Northern Illinois University in 1989 and attended Harvard Business School — Leading Product Development program in July 2004.

Christopher Harrs

Executive Vice President and General Counsel, Corporate Secretary

Mr. Harrs was appointed General Counsel of Spin Master in 2004. Mr. Harrs has over 20 years of senior level legal experience. Prior to joining Spin Master, Mr. Harrs held both legal and business roles within the Entertainment and Technology industries. He started his legal career in 1990 as a corporate law associate at the national law firm of McCarthy Tetrault LLP. Thereafter, he served as Vice President Business and Legal Affairs at Universal Studios Canada Ltd., a company which creates and distributes film entertainment, and as Vice-President Strategic Development and General Counsel at Webhelp Inc., a CRM technology company which focused on online and wireless communications. Mr. Harrs graduated from The University of Western Ontario with an Honours Bachelor of Arts degree and LLB and is a member of the Law Society of Upper Canada.

Nancy Zwiers

Chief Marketing Officer

A classically trained brand-builder at Procter & Gamble, Zwiers joined the toy industry in 1990 with Mattel, where she held a number of progressively senior positions. Nancy takes child’s play seriously. As founder and CEO of the consulting firm Funosophy Inc., Zwiers spent the past 16 years helping over 200 clients—from industry leaders to start-ups in toys, youth entertainment and interactive games—build and expand their brands. Zwiers has been a strategic thought-partner and facilitator for many industry executives and has helped in strategy development for many successful franchises. She has conducted extensive research on kids and play and has led multiple invention teams to licensing success.

Board of Directors

Anton Rabie
Chariman
John Cassaday
Lead Director
Jeffrey I. Cohen
Ben Gadbois
Ronnen Harary
Dina Howell
Todd Tappin
Ben Varadi
Charles Winograd

Shareholder Information

Investor Contact Information investor.relations@spinmaster.com
Head Office 121 Bloor Street East | Toronto, Ontario M4W 1A9 Canada
Toronto Stock Exchange Listing
Trading symbol: TOY
Securities listed:
Subordinate Voting Shares
Registrar and Transfer Agent
Computershare Investor Services Inc.
100 University Avenue, 8th Floor
Toronto, Ontario M5J 2Y1
Auditors
Deloitte LLP
181 Bay Street, Suite 1400
Toronto, Ontario M5J 2V1
Annual Meeting of Shareholders
May 12, 2016
Design Exchange
234 Bay Street
Toronto, Ontario M5K 1B2

Additional Documents

Letter to Shareholders

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2015 Annual Report

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2015 Annual Report
Management’s Discussion and Analysis of Financial Results
Independent Auditor’s Report
Consolidated Statements of Operations and Comprehensive Income
Consolidated Statements of Financial Position
Consolidated Statements of Changes in Equity
Consolidated Statements of Cash Flows
Notes to the Consolidated Financial Statements
2015 Management Information Circular
2015 Proxy Form