Lego Group

Performance indicators

2021: Revenue growth of 27%, to DKK 55.3 billion

In 2021, Lego Group raised 55.3 billion Danish crowns (about $8 billion at the exchange rate at the time of publication of the financial statements - March 8, 2022), which is 27% more than a year earlier. The net profit of the manufacturer of children's designers increased by a third and reached 13.3 billion Danish crowns ($1.94 billion).

As noted in the company's report, its sales in 2021 increased in all markets. In the context of the COVID-19 coronavirus pandemic, parents purchased more toys for their children. In addition, Lego has significantly expanded the range of its products, the company noted.

Lego boosts annual revenue by 27

The increase in Lego Group revenues was also facilitated by the development of the company's business in China. This market accounted for the majority (95) of the 165 new stores opened in 2021 (a total of 832 Lego stores operated in the world by the end of December). The company's revenue in the consumer segment at the end of 2021 increased by 22% compared to 2020.

It also follows from the Lego report that in 2021 the company's investment in manufacturing equipment, factories and real estate rose to DKK 3.1 billion from DKK 1.8 billion a year earlier. This amount, in particular, included investments in expanding production at enterprises in Hungary, Mexico and China.

By the end of 2021, Lego's assets had reached DKK 48 billion against DKK 37.2 billion a year earlier. The number of employees in the company for the year increased from 20,468 to 24,484 people, most of whom (almost 21 thousand) work full time.

Lego is increasingly focusing on digital, which is why it has launched immersive content in 70 stores. In addition, in 2021, users 9.6 billion times downloaded digital instructions for assembling designers.

Simultaneously with the publication of reports for 2021, Lego announced "the suspension of the shipment of products to Russia due to extensive violations in the operating environment."^[1]

History

2022: Curtailment of business in Russia amid conflict in Ukraine

In July 2022, it was announced that Lego was completely leaving the Russian market amid the ongoing special operation of the Russian Armed Forces in Ukraine and the subsequent sanctions by the United States and their satellite countries.

Notes