The Lego Group delivers double-digit development in H1 2024Toy World Journal

The Lego Group’s income elevated by 13% within the first six months of 2024, totaling DKK 31b, in comparison with DKK 27.4b in H1 2023.

The Lego Group has launched its earnings for the primary half of 2024. The corporate delivered double-digit development on the top- and bottom-line and considerably outpaced the toy business, gaining market share. Prime-line development was pushed by sturdy demand for its giant and numerous portfolio and execution in all markets. On the identical time, the Lego Group continued to extend spending on strategic initiatives to drive short- and long-term development.

Niels B Christiansen, CEO on the Lego Group, mentioned: “We’re more than happy with our sturdy efficiency within the first half. We delivered double-digit development on the top- and bottom-line and made vital progress on growing the quantity of sustainable supplies utilized in our merchandise. Our portfolio continues to be related for all ages and pursuits, and that is driving vital demand throughout markets. We used our stable monetary basis to additional enhance spending on strategic initiatives which can assist development now and sooner or later to allow us to deliver studying by means of play to much more kids.”

Within the first six months, the Lego Group’s income elevated by 13% to DKK 31b in contrast with DKK 27.4 b in H1 2023, and client gross sales grew 14%.

Working revenue grew 26% versus H1 2023 to a file DKK 8.1b, whereas the corporate considerably elevated spending on strategic initiatives akin to sustainability, retail and digitalisation. The Lego Group plans to additional speed up spending on these initiatives within the second half of the 12 months. Web revenue grew 16% to DKK 6b in contrast with DKK 5.1b within the first half of 2023.

Money movement from working actions elevated 60% from H1 2023, as the corporate invested DKK 4.5b primarily in constructing new factories and increasing amenities and workplaces.

Within the first six months, the Lego Group launched round 300 new units, which ensures the portfolio stays numerous and affords construct experiences for followers of all ages and pursuits. Among the prime performing themes had been Lego Icons, Lego Metropolis and Lego Technic, in addition to Lego Star Wars and Lego Harry Potter.

Within the first half of the 12 months, the corporate celebrated the anniversaries of a few of its longest-standing and hottest themes, together with the twenty fifth anniversary of Lego Star Wars and 15 years of the fan-designed theme Lego Concepts and gaming icon Lego Minecraft. It continued to develop Lego play choices on Fortnite with the launch of Lego Islands, and can bridge digital and bodily play with the discharge of the primary Lego Fortnite units in October.

Strategic initiatives to drive sustainable long-term development embrace funding in retail experiences; utilizing expertise and knowledge to supply nice model experiences and increasing the worldwide provide chain and operations community to make sure manufacturing and distribution are near main markets.

The Lego Group elevated the quantity of resin bought from sustainable sources licensed beneath the mass steadiness precept to be able to assist speed up the business’s transition to extra sustainable, high-quality supplies. Over the approaching years, the corporate goals to buy greater than half of its uncooked supplies from sustainable sources and scale back its use of virgin fossil supplies.

The corporate elevated concentrate on exercise to cut back greenhouse fuel emissions: launching a brand new Provider Sustainability Programme and an annual carbon emissions discount KPI linked to worker bonuses. Moreover, the corporate expanded its Lego brick takeback programme, Lego Replay, to the UK and continued to pilot fashions within the USA and Europe.

The Lego Group welcomed the UN Normal Meeting’s determination to undertake an Worldwide Day of Play, which was celebrated for the primary time on the eleventh June 2024.