Today The LEGO Group has released the 2017 Annual Results and the results weren’t as good as they had expected. The consumer sales remained flat throughout the year as they sold out of inventory as compared to 2016 but trended upwards towards the end of the year. This is the first time in 12 years that profits has declined and net profit dropped 17%.
The top selling themes for 2017 include LEGO City, Star Wars, DUPLO, Creator, Friends. Star Wars remains a popular novelty theme and remains in line with their expectations.
Digitalization remains a high priority as LEGO Boost was on a lot of kids’ wishlist during the holiday season. The LEGO channel on YouTube is the number one brand channel on the site. LEGO Life continues to be a popular app among kids which gives them a safe place to share their creations.
– Revenue for the full year decreased by 8 percent to DKK 35.0 billion compared with DKK 37.9 billion in 2016. Excluding the impact of foreign currency exchange, revenue for the full year declined 7 percent compared with 2016.
– Operating profit (profit before financial items and tax) for 2017 was DKK 10.4 billion compared with DKK 12.4 billion for 2016, a decrease of 17 percent year on year.
– Net profit for the full year was DKK 7.8 billion compared with DKK 9.4 billion in 2016.
– Cash flow from operating activities for the year was DKK 10.7 billion compared with DKK 9.1 billion in 2016.
– Decline in revenue … Continue
