How much money did LEGO make in 2023

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Please purchase your LEGO through our affiliate link: https://www.brickfanatics.com/product... • Check out the full article on the LEGO Group's 2023 financial report here: https://www.brickfanatics.com/lego-ma... • The LEGO Group’s sales and revenue grew at a slower and steadier pace in 2023, while operating profit dropped year-on-year amid increased spending on ‘strategic initiatives’. • The company today published its full financial results for 2023, reporting 4% growth in sales and a 2% jump in revenue compared to the same period in 2022. Those numbers are significantly down on the year prior, however, when the LEGO Group reported a 12% boost in sales and a 17% increase in revenue on 2021. The new figures are in line with the company’s first-half performance in 2023, when sales grew by 3% and revenue by just 1%. • The LEGO Group has once again qualified those numbers with the context of the wider toy market, noting that its performance ‘significantly outpaces’ the wider industry. Revenue for 2023 rose to DKK 65.9bn (£7.5bn), while operating profit dropped 5% on 2022 to DKK 17.1bn (£1.9bn) – 3% of which the company attributes to ‘changes in foreign currency exchange rates’. • It’s chalked the rest up to ‘accelerated spending on strategic initiatives’, noting that operating profit for the second half of 2023 was actually up 7% year-on-year. But net profits were down from DKK 13.8bn to DKK 13.1bn, a drop of around £80m, as the company invested in expanding its global supply chain network, building new factories, opening new LEGO Stores and growing its digital team. It also increased spending on environmental initiatives by 60% in 2023 compared to 2022, and aims to double this year’s annual spend by 2025.

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