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Dansk version
August 17 2009
Marked improvement in half year result
In the first half of 2009 the LEGO Group increased its sales by 23% above the corresponding figure for the same period of 2008. Profit before tax for the first six months was DKK 927m compared with DKK 564m for the same period last year.
Continued growth in classic products
Net sales for the first half of the year was DKK 4,374m compared with DKK 3,555m for the first half of 2008.
Classic product lines such as LEGO® City and LEGO
Star Wars
remain the bestsellers – but there have been improvements in virtually all product lines. The new play theme LEGO Power Miners got off to a very successful start, with sales well ahead of expectations.
The improved sales picture is recorded on almost all markets, with especially the North American and East and Central European markets reporting big increases on first half sales in 2008.
At the same time, the LEGO Group’s direct sales to consumers via its own brand retail stores plus internet and mail order sales increased considerably during the six month period.
Declining market
The total global toy market declined somewhat during the first half of the year. The total figure, however, represents significant regional differences – English speaking markets reported a decline, while most European toy markets grew during the period.
The LEGO Group achieved double digit growth rates in consumer sales on almost all markets. The company’s market share thus increased.
Very satisfactory result
The result before tax for the first six months was DKK 927m compared with DKK 564m for the same period of 2008.
The marked improvement is due partly to higher sales, partly to careful management of costs.
At the end of the first half year the Group’s equity was DKK 1,740m compared with DKK 1,049m at the end of the corresponding period in 2008.
Cash flow from operations was DKK 315m compared with DKK 541m during the first half of 2008.
Jørgen Vig Knudstorp, LEGO Group CEO:
“The first half of 2009 produced a very satisfactory result. It is particularly pleasing to note the continued strong growth in our classic product lines. As the bulk of toy sales occur during the last few months of the year, considerable uncertainty remains about the full year result. But based on the fine results achieved in the first half of the year, we are optimistic with regard to prospects for the remainder of 2009.”
Increased investment in capacity
In the light of recent years’ growth in sales and expectations of sustained growth in the years ahead, the LEGO Group will make a number of investments in 2009 to increase its capacity.
Steps were taken during the first half of the year to expand moulding capacity. New injection moulding machines were installed in Denmark, Hungary and Mexico.
In addition, construction of a new warehouse facility at the Kladno production plant in the Czech Republic began in June this year.
For further information, please contact:
Charlotte Simonsen
Head of Corporate Communications
Tel: +45 79 50 65 79
Mobile: +45 20 30 81 35
Jørgen Vig Knudstorp
CEO
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Classic product lines such as LEGO City remain the bestsellers
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The new play theme LEGO Power Miners got off to a succesful start
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Appendix to half year message
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The LEGO Group is a privately held, family-owned company, based in Billund, Denmark. It was founded in 1932 and today the group is one of the world's leading manufacturers of play materials for children, employing approximately 7,500 people globally. The LEGO Group is committed to the development of children's creative and imaginative abilities. LEGO products can be purchased in more than 130 countries.
LEGO and the LEGO logo are trademarks of The LEGO Group. ©2010 The LEGO Group.
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