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Danish toymaker The LEGO Group reported a 17% sales increase in 2022, outpacing the toy market.
The growth was driven by strong demand for the company’s portfolio, retailer partnerships both online and instore, a robust e-commerce platform, and a resilient global supply chain network.
Operating profit increased 5% to DKK 17.9 billion, up from DKK 17 billion in 2021.
Free cash flow was DKK 9.3 billion compared to DKK 12.9 billion in 2021, driven by increased capital investments in areas such as production capacity.
Consumer sales grew 12% with especially strong performance in the Americas and Western Europe.
In 2022, LEGO opened 155 new LEGO branded stores, reaching a total number of 904 stores globally.
“The momentum we have seen during the past years continued in 2022. It was driven by the investments made during this time which are both paying off now and establishing a foundation for long-term, sustainable growth,” said CEO Niels B. Christiansen.
“We plan to accelerate investments in strategic initiatives in the coming years to build long-term relevance and growth of our brand.”
Outlook: LEGO expects single-digit revenue growth in 2023. The company plans to continue to accelerate investments in strategic initiatives.
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