The Lego Group delivered a turnover of DKK 15,692m in the first half of 2016.
Sales growth was driven by innovation in well-established lines such as Lego City and Lego Ninjago, as well as in the new theme Lego Nexo Knights. Regionally, sales growth was particularly strong in both Europe and Asia with both regions achieving high double-digit growth, while sales development in the Americas region was flat year over year.
Revenue in the first half of 2016 increased by 10% compared with the same period last year, measured in local currency. Revenue for the first half of 2016 increased by 11% to DKK 15,692m compared with DKK 14,142m for the same period last year. Operating profit for the first half of 2016 was DKK 4,655m, compared to DKK 4,607m for the first half of 2015, an increase of 1%. Net profit for the first half of 2016 was DKK 3,489m compared with DKK 3,553m for the first half of 2015, and cash flow from operating activities was DKK 3,947m compared with DKK 4,349m during the first half of 2015.
Lego’s workforce jumped 24% to 18,500 people, as the company seeks to accelerate growth. It said its new factory in China has started producing, with further expansion planned. It also plans to expand its facilities in Mexico and Hungary.
Executive vice president and chief financial officer, John Goodwin, commented: “It’s particularly impressive that we continue our high growth in Europe where we have our most mature markets. At the same time, we’re very satisfied to see high growth rates for Asia where we are making considerable investments in capacity and capabilities. In the US, we acknowledge that we have not provided the initiatives and support needed to keep the same high level of growth. As a result, we have worked closely with our customers and dialed up our initiatives in the American market, in order to regain momentum.”