LEGO Group net profit reached 1.3 billion Euro in 2021

The LEGO Group today reported earnings for the full year of 2021. Revenue for the year grew 27 percent versus 2020 to DKK 55.3 billion (7.43 billion Euro) and consumer sales grew 22 percent over the same period, outpacing the toy industry and driving market share growth globally and in largest markets.

The LEGO Group CEO, Niels B. Christiansen said: “I am grateful for everything the LEGO Group was able to achieve in 2021. Our passionate and committed team of more than 24,000 colleagues showed tremendous dedication and resilience to keep the world playing. Meanwhile, our strong financial performance allows us to further accelerate strategic investments to help us reach more children in the long term.”

All market groups delivered double-digit consumer sales growth thanks to strong execution and the largest and most diverse portfolio ever that brought families together and appealed to builders of all ages and interests. Top-selling themes included LEGO® City, LEGO® Technic, LEGO® Creator Expert, LEGO® Harry Potter™ and LEGO® Star Wars™.

Operating profit was at DKK 17.0 billion (2.2 billion Euro), an increase of 32 percent compared with 2020, despite ambitious strategic investments and increased freight and raw materials costs. Net profit was at DKK 13.3 billion (1.79 billion Euro) compared with DKK 9.9 billion (1.33 billion Euro) in 2020, while free cash flow was at DKK 12.9 billion.

Christiansen said: “In 2021 we saw the benefits of strategic investments made over the past three years to innovate our portfolio, expand and evolve our retail experiences and increase capacity within our global supply chain network. I am excited about our ability to continue to invest against these priorities due to our strong financial results. Combined, these investments will allow us to bring LEGO play to many more children around the world now and for generations to come.”

In 2022, the LEGO Group expects growth rates to normalize to long-term sustainable single-digit growth.