LEGO Reaches Record Sales And Profits In 2020

Orvieto, Italy - April 13, 2013: Lego mini figure workman at work on white background.
SHARE
THIS



The world’s largest toymaker, LEGO, increased revenues by 13 per cent to DKk43.7 billion (roughly $9.04 billion) in FY20, with operating profits jumping 19 per cent.

It marks the strongest growth rates the Danish toymaker has recorded in five years, according to the likes of Bloomberg and Financial Times, with LEGO noting its growth was buoyed by sales in sets that blend physical bricks with digital Super Mario games.

On top of a revenue increase, operating profits rose to DKk12.9 billion (roughly $2.67 billion), while consumer sales grew 21 per cent for the full year when compared to FY19.

The brand’s global market share grew globally and in its 12 largest countries, with LEGO in 2021 aiming to accelerate its investment in digitalisation across the entire business.

Niels B Christiansen, CEO at the LEGO Group, said: “We are very pleased with these results. They show the timeless relevance of the LEGO brick and learning through play. This performance is also a testament to the passion, creativity and resilience of our people. Despite the challenges of the pandemic, they worked tirelessly to keep the world playing.”

Consumer sales in all market groups grew double digits, with especially strong growth in China, the Americas, Western Europe and Asia Pacific, the LEGO Group said.

Growth in operating profit was driven by strong sales and offset by strategic investments and increased distribution costs associated with shipping products globally following the temporary, enforced closure of manufacturing sites in Mexico and China. Net profit grew 19 percent to DKk9.9 billion, while free cash flow was strong at DKk11.5 billion.

“For the past two years we’ve made large-scale investments in initiatives designed to support long-term growth,” Christiansen said.

“In 2020, we began to see the benefits of these, especially in e-commerce and product innovation. We will further increase investments during the coming year with a continued focus on innovating play, our brand, digitalisation and developing an omnichannel retail network.”

For more information on the LEGO Group’s corporate results for FY20, click here.

Featured image source: iStock/meskolo

Please login with linkedin to comment

financial results Lego

Latest News

Aussie Shoe Brand TWOOBS Embraces Anti-Marketing In Push For More Consumer-conscious Shopping
  • Marketing

Aussie Shoe Brand TWOOBS Embraces Anti-Marketing In Push For More Consumer-conscious Shopping

After relaunching in September last year, TWOOBS has become a ‘kinda’ shoe brand by also focusing on making the world a ‘kinder’ place and creating more consumer-conscious shopping. The vegan shoe brand founded by sisters Jess and Stef Dadon changed its marketing approach last year and stopped using social media to push sales the old-fashioned […]

Visit Sunshine Coast Hires New Head Of Marketing
  • Marketing

Visit Sunshine Coast Hires New Head Of Marketing

Highly experienced tourism marketer Kelly Ryan has been appointed to lead the marketing efforts at Visit Sunshine Coast (VSC). During the past 12 years, Ryan has supported Canberra’s tourism industry in senior marketing roles, including as director of strategy and insights as well as director of marketing at VisitCanberra. Most recently, Ryan has been working […]

GHO Sydney And Family Planning NSW Launch ‘Planet Puberty’ Platform
  • Campaigns

GHO Sydney And Family Planning NSW Launch ‘Planet Puberty’ Platform

GHO Sydney has developed a new educational platform for Family Planning NSW to help parents and carers of children with disabilities navigate the changes to their bodies, emotions and social interactions. The project, ‘Planet Puberty’, was made possible through funding from the federal government’s Department of Social Services, and was co-designed with people with disability […]

JCDecaux Announces New Partnership With Bush Heritage Australia
  • Media

JCDecaux Announces New Partnership With Bush Heritage Australia

JCDecaux today announced conservation organisation, Bush Heritage Australia, as its major charity partner for 2021. The partnership is part of a series of ‘social impact’ initiatives the business is launching this year, under the banner of JCDecauxHEART. JCDecauxHEART focuses on three areas of social impact: health and mental health, environmental sustainability, and enriching urban communities. […]

Shameless Duo Michelle Andrews And Zara McDonald Launch New Podcast Exclusive To LiSTNR
  • Media

Shameless Duo Michelle Andrews And Zara McDonald Launch New Podcast Exclusive To LiSTNR

Shameless Media’s Michelle Andrews and Zara McDonald’s latest podcast, The Books That Changed My Life, will launch exclusively on LiSTNR on Tuesday, 15 June. Throughout the series Michelle and Zara will talk with guests including Kevin Kwan, Laura Henshaw, Jock Zonfrillo, Susan Carland, Hamish Blake and Delta Goodrem about the books that have had a profound impact […]

Business and technology concept.
  • Partner Content

Make Your CX Stand Out From The Competition

It's top tips to ensure your CX stands out from the competition. Then again, you could simply plagiarise their stuff.

Partner Content

by B&T Magazine

B&T Magazine
Why The Future of Work Is Hybrid
  • Opinion

Why The Future of Work Is Hybrid

This expert argues the future of work is hybrid. Which is sad news, as B&T'd preferred it was rhumba or the bossa nova.

Champion Launches Pride Campaign And Partnership With Queer Sporting Alliance
  • Advertising
  • Marketing

Champion Launches Pride Campaign And Partnership With Queer Sporting Alliance

In celebration of Pride Month, cult streetwear brand Champion has announced an Australia-and New Zealand-first Pride range, Champions of Pride, and ongoing partnership with the Queer Sporting Alliance. Championing a cause, celebrating community, and aiming to create real change, the capsule collection proudly heroes the Pride colours in a selection of signature Champion tees, iconic […]

UK Based BankiFi Expands To Australia
  • Marketing

UK Based BankiFi Expands To Australia

Following the successful deployment of BankiFi’s technology platform at The Co-operative Bank in the UK, BankiFi has appointed Lloyd Parata to lead their expansion into the Australian Financial Services market. BankiFi’s technology platform ensures banks remain relevant by offering SMEs an innovative solution to operate their business, whilst avoiding common challenges like late payment. Parata, […]

5 Gum Announces New Twitch Partnership
  • Media

5 Gum Announces New Twitch Partnership

Mars Wrigley 5 Gum has partnered with Twitch to launch Team CLUTCH, a team of Twitch streamers who will assemble on for three live squad streams tackling popular games like Fortnite while embodying the brand’s ethos of ‘life happens in 5’. This partnership builds on 5 Gum’s 2020 Twitch activation, and is set to create […]