The LEGO Group has announced their earnings for the first half of 2023 and they have outpaced the toy industry in a declining market. Consumer sales grew 3% versus the same time last year as demand for relevant and diverse portfolio continued. Revenue was DKK 27.4 billion which is up 1% compared to last year. The top performing themes so far are LEGO Icons, LEGO Star Wars, LEGO Technic, and LEGO City.
The LEGO Group outpaces toy industry in H1 2023 while accelerating long-term growth initiatives
Demand for diverse portfolio continued after three consecutive years of extraordinary growth. Strong financial foundation enables company to invest in building for the long term and reaching more children with LEGO® play.
Highlights
• Consumer sales grew 3 percent vs H1 2022 as demand for relevant and diverse portfolio continued.
• Revenue was DKK 27.4 billion, a growth of one percent versus an exceptional H1 2022.
• Market share grew significantly as the LEGO Group outperformed a declining toy market.
• Operating profit was DKK 6.4 billion compared with DKK 7.9 billion in H1 2022. This is in line with company expectations as it accelerated long-term strategic initiatives such as manufacturing, digital and sustainability. Net profit was DKK 5.1 billion vs DKK 6.2 billion H1 2022.
• Free cash flow was DKK 1.1 billion after investing in building new factories and expanding existing facilities.
• Pledge to achieve net-zero carbon emissions by 2050 across its full supply chain.
BILLUND, August 30, 2023: The LEGO Group today announced earnings for the
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