Toys Lego achieves significantly higher sales
Things are going well at Lego. The toy manufacturer from Billund, Denmark, is earning more money again in the first half of 2024. This will be invested in sustainability, among other things.
28.08.2024, 09:26
SDA
The Danish toy giant Lego was able to significantly increase both its turnover and profit in the first half of 2024. The bottom line for the Lego Group in the first six months of the year is a net profit of six billion Danish kroner (around 800 million euros), which corresponds to an increase of 16 percent compared to the same period last year. Sales increased by 13 percent to 31 billion Danish kroner (4.15 billion euros).
Lego better than the competition
Lego once again clearly outperformed the rest of the toy industry and increased its market share, the company from Billund, Denmark, announced when presenting its half-year figures. Sales growth was driven by strong demand for Lego products, particularly in America and Europe.
At the same time, Lego increased spending on strategic initiatives such as sustainability, retail and digitalization in order to further drive short and long-term growth. Spending on such initiatives is expected to accelerate further in the second half of the year.
"Our portfolio continues to be relevant for all age groups and interests, and this is driving strong demand in the markets," explained Lego CEO Niels B. Christiansen. He also pointed out that Lego has made great progress in increasing the proportion of sustainable materials in its products.
