2020_interim_results_asset_bundle.zip

**- Consumer sales grew 14 percent in 1H 2020 compared with 1H 2019.**
**- Revenue grew 7 percent to DKK 15.7 billion compared with the same    period in 2019.**
**- Operating profit grew 11 percent to DKK 3.9 billion, while investing in significant long-term growth initiatives.**
**- Free cash flow strong at DKK 4.1 billion.**
**- Market share grew in major countries, outpacing the toy industry.**

Strong consumer demand drove consumer sales, revenue, operating profit and market share growth.  Strategic investments positioned the Group well to navigate impact of COVID-19.

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**BILLUND, September 2, 2020**:  The LEGO Group today reported first half earnings for the six months ending June 30, 2020.  Revenue for the period grew 7 percent to DKK 15.7 billion compared with the same period in 2019.  Consumer sales grew 14 percent compared with 1H 2019 and the brand’s global market share increased. Operating profit was DKK 3.9 billion, an increase of 11 percent compared with 2019.

The LEGO Group CEO, Niels B. Christiansen said: “The strong results are due to our incredible team.  When COVID-19 closed stores and offices, our colleagues did everything they could to stay safe and bring play to children and families around the world.  I would like to thank them for their extraordinary contribution and their continued fantastic efforts.”

“During the first half, we saw the benefits of our investments in long-term growth initiatives such as e-commerce and product innovation.  Our strong portfolio appealed to builders of all ages and our recently upgraded e-commerce platform and agile global supply chain allowed us to fulfil online demand.  We also collaborated closely with our retail partners to ensure they could continue to supply their shoppers online.”

The Group delivered double digit consumer sales growth in its major market groups including the Americas, Western Europe, Asia Pacific and China.  Operating profit growth was driven by strong sales, offset by bold investments in long-term growth initiatives and higher freight costs associated with shipping products following temporary, government-mandated factory closures in Mexico and China.  Underlying net profit grew 13 percent.  Adjusted for the impact of foreign exchange on inter- company loans, which has no cash impact, net profit declined 1 percent to DKK 2.6 billion. Free cash flow was strong at DKK 4.1 billion.

Across the portfolio, the top-performing themes in no particular order were LEGO® Technic, LEGO® Star WarsTM, LEGO® Classic, LEGO® I Disney PrincessTM, LEGO® Harry PotterTM and LEGO® Speed Champions, proving the appeal of LEGO play to fans of all ages and interests.

The LEGO Group also launched ‘Let’s Build Together’ a digital initiative designed to bring learning through play to children whose education was disrupted due to the pandemic.  Around 90 percent of school aged children were outside of their usual learning environments during the first half of the year.  ‘Let’s Build Together’ saw thousands of hours of online content and play ideas reach more than 80 million unique users around the world.

Christiansen: “We are very pleased to see the enduring appeal of the LEGO System in Play and strength of the LEGO brand.  During the first half we attracted new builders of all ages who turned to LEGO play to help them through difficult times. More families are playing and learning together with LEGO bricks and we are seeing more adults than ever before enjoying building our more challenging sets.”

A strong portfolio for builders of all ages

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During the first half of 2020, the LEGO Group continued to invest in long-term growth initiatives designed to achieve its ambition to reach more children around the world.

Christiansen said: “Many of the major trends shaping our industry, such as digitalisation and e-commerce, are accelerating as a result of the pandemic.  We saw strong growth in digital and traditional play, a rapid shift to e-commerce and the importance of having a truly global operating model.”

During the first half of 2020, the Group unveiled LEGO® Super MarioTM, an entirely new play experience which blends digital and physical play.  It also launched LEGO® Monkie KidTM, the first theme designed around Chinese folklore.

There was a significant increase in engagement in the company’s digital play experiences.  In the first six months, downloads of LEGO digital building instructions doubled to two million and every two seconds a piece of content was shared on LEGO Life, a safe digital play app, which has more than 9 million users in 80 countries.

Visitors to the LEGO.com e-commerce platform doubled to more than 100 million in the first half of 2020, compared with the same period a year ago.  The company also plans to continue creating unique physical brand experiences for shoppers and is on track to open around 120 new retail stores in 2020, 80 of those in China.  During the first half, it opened 46 retail stores, 30 of those in China. 

Christiansen said: “While retail has been transformed during the past six months, we continue to see great opportunity for an omnichannel model.  We will continue to invest in upgrading our e-commerce capabilities to support both our retail partners and own platform and continue to invest in creating fantastic physical brand experiences for shoppers and fans.”

Strategic investments in long-term growth

During the first six months of 2020, the LEGO Group supported those hit hardest by the pandemic.  In partnership with the LEGO Foundation, it donated USD 50 million to a range of organisations that provide emergency relief to families and support for children in learning through play.  It also donated more than 250,000 LEGO sets to children in need of play.

The Group re-purposed moulding machines in its factories in Denmark, Czech Republic, Hungary and Mexico to manufacture more than half a million visors for frontline health professionals who required personal protective equipment (PPE).

Christiansen said: “The first six months of 2020 have been unprecedented.  I am incredibly proud of the team and how they responded.  We kept each other safe, we took care of those most in need and we did everything we could to inspire children and families, whose lives were put on hold, to learn through play.”

Helping children learn through play

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The LEGO Group delivers double-digit growth in 1H 2020

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Interim Results

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**In 2018, the LEGO Group bucked toy industry trends to increase its market share in all major markets. Revenue grew 4 percent to DKK 36.4 billion; operating profit grew 4 percent.**

**2018 Performance Highlights:**
Global consumer sales grew 3 percent in 2018 compared with 2017.
Revenue for the full year grew 4 percent to DKK 36.4 billion. In constant currency, revenue grew 7 percent compared with 2017.
Operating profit grew 4 percent to DKK 10.8 billion. Net profit was DKK 8.1 billion, an increase of 3.5 percent.
Cash flow from operating activities remained strong at DKK 9.8 billion.
Market share grew in all major markets, bucking overall industry trends.

**BILLUND:** February 27, 2019: The LEGO Group today reported earnings for the full year ending December 2018. Global consumer sales grew 3 percent, while revenue for the full year grew 4 percent to DKK 36.4 billion, up from 35.0 billion in 2017. In constant currency, revenue grew 7 percent compared with 2017.

Operating profit was DKK 10.8 billion compared with 10.4 billion in 2017 an increase of 4 percent. The growth was due to increased sales, balanced with a continued focus on investing for the future. Cash flow from operating activities remained strong at DKK 9.8 billion, although it was 8 percent lower than the DKK 10.7 billion in 2017 due to changes in working capital in line with business momentum.

LEGO Group CEO, Niels B Christiansen said: “We set out with one aim in 2018, to stabilise the business. We are pleased to have achieved this, and to have delivered modest top and bottom-line growth.

“We are especially encouraged by our progress given the challenges facing the toy industry and the departure of specialist retailers such as Toys R Us. These shifts gave us the opportunity to strengthen our partnerships with retailers and find new ways to connect with shoppers and consumers across digital and physical channels. We also grew market share in our largest markets around the world, bucking industry trends.

“We’d like to thank our talented colleagues who did an outstanding job executing plans during the peak holiday season.”

**Revenue growth in all market groups** 
Revenue in all market groups grew. In established markets, such as the United States and Western Europe, growth was in the low-single digits. In China, a strategic growth market for the Group, revenue grew strong double-digits as the brand expanded into new cities and built its presence on ecommerce, digital and physical platforms.

The top selling themes in 2018 in no particular order were LEGO® City, LEGO® Technic™, LEGO® Star Wars™, LEGO® Friends and LEGO® NINJAGO®. LEGO® Harry Potter™, LEGO® Jurassic World™, LEGO® Classic and LEGO® Creator also performed strongly.

The LEGO Group’s portfolio also comprised new products which blended the brick with digital play.

Christiansen said: “Our challenge each year is to create play experiences that are more exciting, more relevant and more fun than the year before.

“Last year, we were pleased with the response to our homegrown themes such as LEGO City and LEGO Technic. We were also encouraged by the positive reaction to new products and experiences which integrated digital play, such as the augmented reality app, AR Playgrounds, the DUPLO Cargo Train, which introduces coding to our youngest fans and LEGO BOOST which makes robotics intuitive and fun. We will continue to invest in both our core and in new technology which brings the brick to life in wonderful and unexpected ways.”

The LEGO Group will also continue to invest to grow in newer markets as part of its ambition to reach more children around the world. In China, the company will accelerate expansion and open 80 stores in 18 cities during 2019, starting with a new flagship store in Beijing which opened on February 22. The Group will further expand its presence in the Middle East and explore opportunities in new markets where there is a large and growing middle class population, such as India.

**A positive impact on society and the planet**
During 2018, the LEGO Group continued to live by its Planet Promise and its aspiration to have a positive impact on the society and the world children will inherit.

During the year, the company introduced the first elements made from plant-based plastics and pledged to use 100 percent sustainable packaging by 2025. It also installed one of Denmark’s largest rooftop solar panel systems which will provide 50 percent of the energy requirements to its new Campus building in Billund. This investment contributes to the LEGO Group’s continued ability to meet its commitment to be 100 percent balanced by renewable energy.

The LEGO Group colleagues also brought play to children in need. The company organised play events and hosted a holiday Build to Give campaign which, combined, engaged more than 840,000 children in 26 countries.

Christiansen said: “It is a privilege to work for a brand that is so deeply purpose driven and committed to having a positive impact on society. What motivates our colleagues around the world is the role they can play, big and small, in helping more and more children around the world learn through play.”

**For further information:**
LEGO Group Press Office
Ph: +45 7950 4919
[media@LEGO.com][1]


See our [2018 highlights here.][2]


  [1]: mailto://media@lego.com
  [2]: https://www.lego.com/en-us/campaign/2018highlights

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In 2018, the LEGO Group bucked toy industry trends to increase its market share in all major markets. Revenue grew 4 percent to DKK 36.4 billion; operating profit grew 4 percent.

The LEGO Group returns to growth in 2018

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