The LEGO Group has completed their 2013 Annual Report with CEO Jørgen Vig Knudstorp sharing details about the company’s growth last year. The LEGO Group had its 9th straight year of organic growth and increased their sales by 11% which outpreformed the traditional toy market. The overall revenue by the company has quadrupled over the past 10 years. LEGO has seen main growth in Poland, Germany, and China which in turn helped their sales numbers. Legends of Chima was one of the best selling themes for LEGO last year and the Friends theme was one of the top 5 themes. LEGO City, Star Wars, and DUPLO rounded out the top 5 themes of 2013. The Friends line also seen double digit growth along with some of the core themes including City, Creator, DUPLO, and Technic. With all of the various sets that LEGO releases every year, the company is meticulous in following industry standards and as a result, there have been no product recalls for the 4th straight year.
LEGO has also invested in themselves including DKK 2.6 billion in facilities in Mexico, Czech Republic, Hungary, and China. More facilities equal more responsibilities and The LEGO Group has enrolled in the WWF Climate Savers program in which they are 1st in the industry. They have improved energy efficiency by 30% since 2009 and employee injuries have reduced by 40% since 2009. The LEGO Group also added 1,355 employees last year due to it’s growth and is one of the company’s largest annual employee increases in history.
Knudstorp also talked about LEGO’s strategic ambitions for 2014. He wants the company to continue sustaining their core commercial and operational momentum that they have going. He also wants to expand their global presence. Knudstorp feels that LEGO has an opportunity to reach out to more countries and is focused on building the company presence in Connecticut, London, Singapore, and Shanghai. He also wants the company to create the organisation of the future. What that means is that LEGO can be even more diverse and international. It is a Danish company and they are proud of what they have achieved but they also welcome other cultures. Another one of LEGO’s ambitions for this year is to leverage digitalisation. Not only do consumers play with the physical products, they also interact with LEGO digitally. Visitors that go to LEGO.com are on the site an average of 20 mins monthly. They are also a top 3 brand on YouTube. The company wants to continue to reach out to more people not only in the products by also in the online world.
Finally, Knudstorp talks about the company’s expectations for 2014. Like with many other toy companies, they want to be in the running on childrens’ wish list. They have high expectations for continued success of their core product lines. Knudstorp expects continued sustainable financial growth as well as continued robust growth in 2014.
You can read more about details of The LEGO Group’s 2013 Annual Report in their press release.
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