Lego earnings report is here! Revenue of 45.4 billion in 2020, revenue growth of 13%

by:Ennas      2022-02-05
Today, the Lego Group announced its 2020 financial report. Compared with 2019, revenue increased by 13% to DKK 43.7 billion (approximately 45.421 billion yuan), and retail sales increased by 21% year-on-year. Operating profit reached 12.9 billion Danish kroner (approximately 13.4 billion yuan), a year-on-year increase of 19% compared to 2019. The Lego Group's share in the world and its 12 largest markets has increased. The retail sales for the whole year increased by 21% year-on-year compared to 2019. Revenue increased by 13% year-on-year compared to 2019, reaching 43.7 billion Danish kroner. Operating profit increased by 19% to 12.9 billion Danish kroner. Net profit increased by 19% to 9.9 billion Danish kroner. While profit growth is strong, continue to promote major strategic investments for future growth projects. Cash flow amounted to 11.5 billion Danish kroner. The global market share has increased. Lego Group CEO Ni Zhiwei said: We are very satisfied with this performance. It embodies the constant love of consumers for Lego bricks and their recognition of the concept of learning and development through play. It also shows the enthusiasm, creativity and resilience of our employees. Despite the challenges posed by the new crown epidemic, our employees still work tirelessly to contribute to the world. Net profit increased by 19%, reaching 9.9 billion Danish Krona. The LEGO Group achieved double-digit retail sales growth in all major markets around the world. Among them, the growth in China, the Americas, Western Europe and the Asia-Pacific region was particularly strong. Strong retail sales have driven operating profit growth. At the same time, the growth has also been affected by a number of factors, including strategic investment and the temporary closure of factories in Mexico and China due to the epidemic, which has increased global product freight costs. Net profit increased by 19% to 9.9 billion Danish kroner, and cash flow was strong, reaching 11.5 billion Danish kronor. Ni Zhiwei said: In the past two years, we have made large-scale investments in long-term growth projects. In 2020, we will begin to benefit from these projects, especially in e-commerce and product innovation. In the future, we will further increase investment and continue to focus on innovative play, brand building, digital development and strengthening of the omni-channel retail network. Strong product portfolio with broad appeal More and more consumers from all ages have been inspired by creative product portfolios. Their love of assembling Lego bricks has driven strong retail sales growth in 2020. Among all the product portfolios, the LEGO® City Group, LEGO® Mechanical Group, LEGO® Star Wars, LEGO® Friends Series and LEGO® Classic Creative Series (listed in no particular order) performed the most dazzling. It can be seen that the classic series and the Changsheng IP series are still popular. In August 2020, the LEGO Group launched the LEGO® Super Mario series that integrates digital and physical play. This series has also become one of the most successful new series releases of the group. In 2021, the Group will continue to invest in products that integrate physical play and digital play, including the new LEGO VIDIYO series launched this month, which aims to tap children's love for music and play. In order to curb the spread of the new crown epidemic, many physical stores have to be temporarily closed. During the period, the Group increased its investment in the omni-channel retail ecosystem to support the growth of retail channel partners and self-owned platforms. In 2020, the number of visitors to the e-commerce platform doubled from 2019. At the same time, the group continued to expand its physical stores globally. In 2020, the LEGO Group opened a total of 134 retail stores, 91 of which are located in China. As of the end of 2020, the LEGO Group has 678 branded retail stores around the world. The group plans to open another 120 branded retail stores in 2021, 80 of which will be located in China. It can be seen that China is still an important strategic market for the LEGO Group. In addition, Lego will invest in creating a positive impact for the next generation. In 2020, the Lego Group announced that it will invest up to 400 million U.S. dollars (2.6 billion Danish kroner) in three years to promote sustainable development projects. The investment will include allowing more children to learn and develop through play, reduce the impact on the environment, and provide an inclusive workplace for all those involved in creating the Lego play experience.
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