It’s around this time of the (relatively) new year that major corporations around the world begin to publicize their annual financial reports from the year before. The LEGO Group is no exception, and interested parties have been looking forward to learning what their status is into the new fiscal year.
After all, despite the continuing release of new products and a healthy amount of activity back in 2017, there have been noted shortfalls in their results when The LEGO Group made its annual report then in early 2018. Thankfully, the following financial year seems to have been very good for the company, if their reported revenue growth is any indication.
In a press statement they released after making their annual report for 2018 last Wednesday, February 27, The LEGO Group was proud to announce good growth in revenue, sales and profits; in addition, these positive gains are uniform across three major regional markets: the Americas; Europe, Africa and the Middle East; and the Asia Pacific.
Speaking of the latter, LEGO was also proud to report that their growth in China, one of their most recent marketing frontiers, has reached “double digits,” better than the already-good increases in other well-established locales.
Translated into hard figures, from the 2017 to 2018 reports, The LEGO Group achieved: 4% revenue growth (DKK 36.4 billion), 3% global consumer sales, a strong cash flow (DKK 9.8 billion), and a 4% increase in profit (DKK 10.4 billion).
Niels Christiansen, CEO of The LEGO Group, noted that the company was determined to improve their financial situation for 2018 after reeling from the figures of year 2017. “We are pleased to have achieved this, and to have delivered modest top and bottom-line growth,” he said. “We’d like to thank our talented colleagues who did an outstanding job executing plans during the peak holiday season.”
For a full accounting of the annual financial report from The LEGO Group, you may check out their official press release about the event here.