2024-08-29 04:28:40
The toy manufacturer Lego looks back on a successful six months: the company was able to increase its profits by 16 percent.
The Danish toy giant Lego has been able to significantly increase both its sales and profits in the first half of 2024. The bottom line is that the Lego Group posted a net profit of six billion Danish kroner (around 800 million euros) in the first six months of the year, an increase of 16 percent compared to the same period last year. Sales increased by 13 percent to 31 billion kroner (4.15 billion euros).
Lego has once again significantly outperformed the rest of the toy industry and gained market share, the company from Billund, Denmark, announced when presenting its half-year figures. Sales growth was driven by strong demand for Lego products, especially in America and Europe. At the same time, Lego has 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 therefore set 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,” said 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.