LEGO (LEGO) H1 2024 earnings summary

Executive summary

• Achieved double-digit top- and bottom-line growth in H1 2024, significantly outpacing the toy industry and gaining market share.

• Strong demand for a diverse portfolio, with notable performance in Americas and Europe.

• Continued strategic investments in sustainability, retail, and digitalization to drive growth.

Financial highlights

• Revenue increased 13% year-over-year to DKK 31.0 billion in H1 2024.

• Operating profit rose 26% to DKK 8.1 billion, with net profit up 16% to DKK 6.0 billion compared to H1 2023.

• Consumer sales grew 14%, significantly outperforming the toy industry.

• Free cash flow reached DKK 3.0 billion, up from DKK 1.1 billion in H1 2023.

• Cash flow from operating activities increased 60% to DKK 7.5 billion.

Outlook and guidance

• Plans to further accelerate spending on strategic initiatives in the second half of 2024.

• Aims to purchase more than half of raw materials from sustainable sources in coming years.