Toymaker LEGO Posts 17% Revenue Growth In 2022

Shivani Kumaresan
1 min read
0

  • Danish toymaker The LEGO Group reported a 17% sales increase in 2022, outpacing the toy market.

  • The growth was driven by strong demand for the company's portfolio, retailer partnerships both online and instore, a robust e-commerce platform, and a resilient global supply chain network.

  • Operating profit increased 5% to DKK 17.9 billion, up from DKK 17 billion in 2021.

  • Free cash flow was DKK 9.3 billion compared to DKK 12.9 billion in 2021, driven by increased capital investments in areas such as production capacity.

  • Consumer sales grew 12% with especially strong performance in the Americas and Western Europe.

  • In 2022, LEGO opened 155 new LEGO branded stores, reaching a total number of 904 stores globally.

  • "The momentum we have seen during the past years continued in 2022. It was driven by the investments made during this time which are both paying off now and establishing a foundation for long-term, sustainable growth," said CEO Niels B. Christiansen.

  • "We plan to accelerate investments in strategic initiatives in the coming years to build long-term relevance and growth of our brand."

  • Outlook: LEGO expects single-digit revenue growth in 2023. The company plans to continue to accelerate investments in strategic initiatives.

  • Photo Via Company

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This article Toymaker LEGO Posts 17% Revenue Growth In 2022 originally appeared on Benzinga.com

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