The LEGO Group 2023 Annual Results Report Small but Steady Growth
The LEGO Group has released their earnings report from 2023 and revenue was up despite a slow toy market. Revenue was up 2% compared to 2022 while consumer sales grew 4%. The top performing themes include LEGO Icons, LEGO City, LEGO Technic, LEGO Star Wars, and LEGO Harry Potter.
The LEGO Group delivered topline growth and outpaced the market in 2023
Highlights FY 2023 vs. FY 2022
• Revenue was DKK 65.9 billion up 2 percent despite declining toymarket.
• Consumer sales* grew 4 percent.
• Outperformed the toy market and significantly grew market share globally.
• Operating profit was DKK 17.1 billion against DKK 17.9 billion in 2022 as the company accelerated spending on strategic initiatives to support growth. Operating profit grew 7 percent in H2 vs. H2 2022.
• Cash flow from operating activities increased 1 percent to DKK 15.4 billion.
• 60 percent increase in spending on environmental initiatives in 2023.
BILLUND, DENMARK, March 12, 2024: The LEGO Group today reported earnings for the full year 2023. The company grew revenue two percent to DKK 65.9 billion despite a difficult external operating environment and significantly outpaced the toy market, growing market share. Operating profit was a solid DKK 17.1 billion as the company accelerated spending on short- and long-term strategic initiatives.
CEO Niels B. Christiansen said: “We are pleased with our performance given that 2023 was the most negative toy market in more than 15 years. We continued to grow on top of three years of extraordinary growth and saw strong momentum in
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