Lego Revenue Rises 13% to $4.65 Billion in H1 2024, Driven by Fortnite and Diverse Sets; Plans Half Plastic from Renewables by 2026

Aug 28, 2024, 08:07 AM

Lego reported a 13% increase in revenue for the first half of 2024, reaching 31 billion Danish krone ($4.65 billion). This growth was largely driven by strong sales of its Lego Fortnite collaboration and a diverse range of product offerings, including Lego Icons and Lego Creator sets. The company outperformed the overall toy market, particularly in Europe and North America. Lego's CEO noted that the Fortnite venture has already reached 83 million people. Additionally, Lego is on track to replace the fossil fuels used in its bricks with pricier renewable and recycled plastic by 2032, following long-term supply agreements with producers. The transition to renewable materials is expected to increase costs, with Lego paying up to 60% more for plastic resin made from these sources. The company aims to have half of its plastic sourced from renewable materials by 2026.