The LEGO Group: financial results of 2020

LEGO Group 2020 financial performance officially released today

Like every year around this time, The LEGO Group has publicly revealed revenue and lots of sales figures for all of 2020, a very unique year.

The main points are the following, also better illustrated in the infographic (down below):

  • Consumer sales grew 21 percent for the full year vs 2019.
  • Revenue grew 13 percent to DKK 43.7 billion compared with 2019.
  • Operating profit grew 19 percent to DKK 12.9 billion. Net profit grew 19 percent to DKK 9.9 billion. Profit grew strongly while the Group continued significant strategic investments in future growth initiatives.
  • Free cash flow was DKK 11.5 billion.
  • Grew global market share.

The 5 themes that sold better

Also this time the 5 themes that best sold throughout 2020 have been made public. It is not a real ranking, the 5 themes are in fact in random order:

  • LEGO Technic;
  • LEGO Star Wars;
  • LEGO City;
  • LEGO Classic;
  • LEGO Friends.

These are the words of CEO Niels B Christiansen in general on the financial results of the LEGO Group during 2020, followed by other more specific statements on some topics in particular:

“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.”

“For the past two years we’ve made large-scale investments in initiatives designed to support long-term growth. In 2020, we began to see the benefits of these, especially in e-commerce and product innovation. We will further increase investments during the coming year with a continued focus on innovating play, our brand, digitalisation and developing an omnichannel retail network.”

Strong portfolio with broad appeal, it’s said, for example, LEGO Super Mario theme:

“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.”

Innovative and agile omnichannel network (lot of new LEGO Store opened around the world) :

“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.”

Ambitious digital transformation:

“We have a solid digital foundation, but must move faster. The past year has shown the importance of having an agile, responsive business built on strong digital foundations. We will further develop our capabilities in this area so we are well positioned to meet the evolving needs of our retail partners and consumers now, and in the long term.”

Investing to create a positive impact for future generations:

 “The challenges facing this generation of children are urgent and complex and must be addressed through a collective effort by companies, governments and experts. We look forward to joining forces with children, parents, colleagues and partners to help shape a bright future for generations to come.”

What do you think of the achievements of the LEGO Group during such a complicated year? What direction will this and future years go? We look forward to seeing you in the comments with your opinions!

Here you can find the complete official press release:

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