Official announcements from Lego

Lego Revenue Rises 13% in H1 2024, Plans Shift to Renewable Plastic Amid Toy Market Challenges

Aug 28, 2024, 08:10 AM

Lego has reported a 13% increase in revenue for the first half of 2024, reaching 31 billion Danish krone ($4.65 billion). This growth was driven by strong sales of Lego Fortnite and diverse brick sets, including Lego Icons and Lego Creator. The company outperformed the overall toy market, with robust sales in Europe and North America, despite toy market woes. Lego is also pursuing new digital partnerships following the success of its collaboration with Epic Games, which has reached 83 million people. Additionally, surging profits underpin Lego's expensive move to replace fossil fuels in its bricks with more expensive renewable and recycled plastics by 2032, having signed long-term supply deals. The company plans to make half of the plastic in its bricks from renewable materials by 2026, despite the increased costs of up to 60% for renewable plastic resin.