(Keystone-ATS) The Danish company Lego announced a 5% decrease in its net profit in 2023 to 13.1 billion crowns (1.7 billion Swiss francs), but confirmed its position as the world’s number one toy maker, it announced on Tuesday.
Its revenue increased by 2% to 65.9 billion crowns (8.8 billion euros), as stated in its annual report, a record result for the family-owned group that continues to gain market share.
Its retail sales – for which it does not provide specific figures – increased by 4% during a challenging year for the toy industry due to high inflation.
Lego posted its first year-on-year decline in net profit since 2017, with the group attributing it to investments in sustainability and digitalization.
“Every year, we have gained market share and the outlook for this year is that we will continue to do so,” he added.
Lego was the world’s number one player in the toy market with a 14% market share in 2022, according to market analysis firm Statista. No figures were available for 2023.
A slight setback for this unlisted flagship of the Danish industry, sales declined in China – but they rebounded in the United States and Central and Eastern Europe.
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