- The Lego Group has presented its financial report for the first half of the year. The results surprised the market positively.
- The Group achieved revenue of DKK 31 billion (approx. EUR 4.16 billion), up 13% year-on-year, while consumer sales were 14% better than a year ago.
Lego’s operating profit for the first half of 2024 increased by 26% year-on-year to DKK 8.1 billion (approximately EUR 1.09 billion), while net profit increased by as much as 16% year-on-year to DKK 6 billion (approximately EUR 0.80 billion).
Legos are selling like hotcakes. Fortnite series success
Lego sales in the first half of the year grew most strongly in Europe and North America, but slowed in China.
Of the 40 Lego stores that opened in the first half of the year, half were in China. The same number of new stores in the country are set to open in the second half of the year.
During the period under review, the company introduced around 300 new products to the market. Collaboration with Epic Games on the Lego Fortnite series proved to be a great success.
Lego criticized for plastic
The Lego Group has come under increasing criticism for its plastic building blocks. The company said it aims to source more than half of its raw materials from sustainable sources in the long term. Some 22% of its products already came from recycled materials.
Lego builds brick factories
Lego continues to expand its global supply chain with the opening of a new European regional distribution centre in Belgium and the construction of two factories in Vietnam and Virginia, USA.
