The LEGO Group reports double-digit growth in both sales and revenue in 2020 [News]
Today, The LEGO Group presented the financial report for the full year of 2020. An online event was hosted by the company’s CEO, Niels B Christiansen, who announced a strong growth of all key indicators. In 2020, the revenue grew 13 percent to DKK 43.7 billion compared with 2019, while consumer sales grew 21 percent compared to the same period. Operating profit was DKK 12.9 billion, an increase of 19 percent compared with 2019. The brand’s global market share grew globally and in its 12 largest countries.
Niels B Christiansen, the CEO, 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.”
According to the report, the strong growth in 2020 is attributed to the company’s strong portfolio. Among the top-selling themes are LEGO City, LEGO Technic, LEGO Star Wars, LEGO Friends and LEGO Classic, which brings no surprises. Meanwhile, LEGO Mario launched in August 2020 is mentioned as one of the biggest successes of the last year. Christiansen said: “We know children and adults love the LEGO brick and that will always be the heart of our business. But today’s children are growing up in a digital world and they effortlessly blend online and physical play. We are excited to offer them safe, exciting play experiences that are fun and offer new ways to learn and be creative.”
Obviously, one of the most powerful factors of LEGO’s revenue growth was millions of homebound kids and adults amid the global pandemic. The number of visits to LEGO.com doubled compared with the prior year. Christiansen said: “People are looking for unique and memorable physical brand experiences, so we will continue to invest to expand our global retail footprint, as well as elevate our instore shopping experiences. This approach strengthens our brand, creating a positive impact across all channels. We will also further build our e-commerce capabilities to support online shopping on our own and our partners’ platforms.”
In 2020, the LEGO Group announced that up to US$400 million (DKK 2.6 billion) will be invested over three years in sustainability initiatives. These will focus on bringing learning through play to more children, reducing its environmental impact and ensuring inclusive workplaces for all people involved in making the company’s play experiences.
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