Lego's sales top $2B in 2009
By Staff -- Gifts and Dec, 3/4/2010 10:29:00 AM
BILLUND, Denmark—The Lego Group grew its net profit for 2009 by 63 percent, fueled by increased business “in nearly all markets,” the toymaker said today.
Net profit for the year increased to 2.2 billion Danish kroner ($404 million), up from DKK 1.35 billion in 2008. Profit for the year before taxes increased nearly 60 percent to DKK 2.88 billion.
Overall revenue jumped 22.4 percent to DKK 11.66 billion ($2.14 billion), helped by sales of its Lego City and Lego Star Wars lines.
In nearly all markets, the Lego Group achieved “strong growth in 2009,” the company said, with the largest growth rates achieved “in English-speaking markets.” The results led Lego to increase its global market share to 4.8 percent.
Helping fuel its growth were investments in increased capacity, with the majority of its expanded production now taking place in company-owned factories in Denmark, the Czech Republic, Hungary and Mexico.
“Our results in 2009 have been highly satisfactory,” said CEO Jørgen Vig Knudstorp. “We can be pleased by strong global growth which is driven by the classic product lines and, in addition, our launch of Lego board games has come off to a really good start.”
Looking forward, Vig Knudstorp said: “Based on the good results in 2009 and our sales during the first months of 2010, we also expect sizeable growth this year.”
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