COPENHAGEN, Mar 8 (NNN-XINHUA) – As one of the world’s largest toy manufacturers, LEGO reported yesterday, a record after-tax profit of 13.8 billion Danish kroner (1.98 bln U.S. dollars) in 2022, an increase of four percent year-on-year.
Its net sales reached 64.6 billion Danish kroner (9.25 billion dollars) last year, a 17-percent-increase from 2021, according to LEGO’s annual financial statement for 2022.
The high demand for the company’s product portfolio, strong partnerships with retail customers, both online and in physical stores, a solid e-commerce platform, and a robust global supply network, have all contributed to the outcome, the statement said.
With a 48 percent rise in types of new products, and Lego products reaching more children than ever before during 2022, the company increased manufacturing capacity at all its global factories, such as Jiaxing in China “to meet current and future demand,” said the statement.
“This is above our expectations, after last year’s extraordinary progress and despite challenging market conditions,” said Niels B. Christiansen, CEO of the LEGO Group, in the statement.
In addition, Lego opened 155 new branded Lego stores globally in 2022, the majority of which (95) were inaugurated in China, “taking total stores globally to 904,” the statement added.
“We plan to accelerate our investments in strategic initiatives in the coming years, to build long-term relevance and growth for our brand,” said Christiansen.– NNN-XINHUA
