LEGO 2024 Annual Report Performance & Financials Press Release

BILLUND, DENMARK, March 11, 2025: The LEGO Group today issued its annual results for 2024. The company achieved record revenue and operating profit, outpacing the toy market with significant market share gains. The double-digit revenue growth was driven by strong demand for its large and diverse portfolio, excellent execution in markets and a resilient supply chain. To support growth now and in the future, the company accelerated spending on strategic initiatives.

CEO Niels B Christiansen said: “2024 was an exceptional year for the LEGO Group and we are very pleased with our strong performance. We achieved record top- and bottom-line results even as we accelerated spending on strategic priorities, including a significant increase in the purchases of sustainable raw materials. We are encouraged by these strong results as they will allow us to continue to reach more children with LEGO play experiences now and in the future.”

Revenue grew 13 percent to DKK 74.3 billion driven by strong demand in the Americas, Europe, and Middle Eastern markets. Consumer sales increased by 12 percent, growing significantly ahead of the toy market which declined one percent.

Operating profit increased by 10 percent to DKK 18.7 billion supported by revenue growth, scale efficiencies, increased asset utilisation and productivity. This was achieved as spending on long-term strategic activities increased significantly. Net profit grew by 5 percent to DKK 13.8 billion, surpassing expectations.

Cash flow from operating activities grew by 24 percent to DKK 19.2 billion from DKK 15.4 billion in 2023. The company invested DKK 9.0 billion mainly in building new factories and expansion of facilities and offices, an increase on DKK 8.5 billion in 2023. This resulted in free cash flow of DKK 10.2 billion compared to DKK 6.9 billion in 2023.

Large and diverse portfolio

The 2024 portfolio was the LEGO Group’s largest ever, with 840 products designed for builders of all ages and interests. Bestselling themes combined homegrown and entertainment IP themes, including LEGO® City, LEGO® Star Wars, LEGO® Technic, LEGO® Icons and LEGO® Harry Potter.

The company expanded its LEGO Botanical Collection which attracted new builders and proved especially popular around gifting occasions.

The LEGO® Fortnite® play experience also expanded with the launch of the first physical sets inspired by the game and the introduction of new in-game experiences such as LEGO Islands and Brick Life. Since its launch in late 2023, LEGO Fortnite has engaged over 87 million players.

To tap into the passion of sport, the company announced new multi-year partnerships with NIKE, Inc. and Formula 1® with the first sets launching in 2025.

Investing for the long term

• Invested in building more memorable brand experiences in retail: The LEGO Group continued to invest in creating great experiences in its own and partner channels. It opened new retail stores and hosted in-store activities to mark special occasions such as Valentine’s Day and Lunar New Year.
• Expanded global supply chain: The LEGO Group expanded its manufacturing capacity at existing factories in Mexico, Hungary and China and made progress building new factories in Vietnam and the United States. Systems and equipment testing in Vietnam were successfully carried out in Q4 and the factory will be operational in early 2025. The factory in Virginia, U.S. is on track to open in 2027. Two new Regional Distribution Centres were completed. One in Belgium, which opened in June, and a second in Vietnam which will open in early 2025.
• Strengthened digital foundations: The LEGO Group continued to invest in upgrading its technology. This included improving demand forecasting models using machine learning and upgrading internet connectivity in stores to improve guests’ retail experience. The company embarked on a number of multi-year transformational projects to modernise its foundational technology systems across the business.

Niels B Christiansen said: “Play is more important than ever, and we were happy to see the UN General Assembly adopt an International Day of Play to champion children’s right to play. Our outstanding performance in 2024 helped reach millions of children around the world with joyful learning-through-play experiences that help them develop the skills they will need to thrive.”

More details of the 2024 annual performance including the full press release, annual reports, financial highlights, sustainability statement can be found in the official LEGO News Pressroom (US | Canada | UK | Australia).