Danish Toy Manufacturer Lego Makes Record Profit in 2022
LEGO, one of the world’s largest toy manufacturers, reported after-tax profits to reach Danish kroner 13.8 billion (US$1.98 billion) in 2022, a 4% increase from the previous year.
According to LEGO’s 2022 annual financial statement released Tuesday, the company’s net sales reached DKK 64.6 billion ($9.25 billion) last year, up 17 percent from 2021.
High demand for the company’s product portfolio, strong partnerships with retail customers in both online and physical stores, a solid e-commerce platform and a strong global supply network contributed to this result, the statement said.
With a 48 percent increase in new product types and Lego products reaching more children than ever before in 2022, the company has “increased production capacity at all its global factories, including the Jiaxing factory in China, to meet the present and the future.” sue.”
“After the remarkable progress made over the past year and despite challenging market conditions, we exceeded our expectations,” said Niels B. Christiansen, CEO of the LEGO Group.
On the other hand, Lego opened 155 new Lego stores worldwide in 2022. According to the statement, with these new stores, 95 of which opened in China, Lego’s “total number of stores worldwide has increased to 904”.
“We plan to accelerate our investments in strategic initiatives in the coming years to ensure long-term interest and growth for our brand,” Christiansen said.