The LEGO Group has announced the full year financial results for 2023 and the results show that growth is beginning to stagnate with revenue growing by 2%, while operating profit declined by DKK 0.8 billion (US$0.12bn) compared to 2022.
Net profit also declined to DKK 13.1 billion (US$1.92 bn) from DKK 13.8 billion (US$2.02 bn) compared to the prior year. This is quite significant, as it’s the first time LEGO’s net profit has declined since 2017.
Does @LEGO not see the obvious? The slowed growth and less money earned than usual is mainly because of the price increases, as well as many very expensive sets that aren't getting bought as much. Some people stopped collecting Lego because it was getting too expensive Also the CMFs switching to boxes might have had an impact
Does @LEGO not see this? Isn't it pretty obvious to everyone? C'mon @LEGO
Brick HQ
The LEGO Group has announced the full year financial results for 2023 and the results show that growth is beginning to stagnate with revenue growing by 2%, while operating profit declined by DKK 0.8 billion (US$0.12bn) compared to 2022.
Net profit also declined to DKK 13.1 billion (US$1.92 bn) from DKK 13.8 billion (US$2.02 bn) compared to the prior year. This is quite significant, as it’s the first time LEGO’s net profit has declined since 2017.
Does @LEGO not see the obvious?
The slowed growth and less money earned than usual is mainly because of the price increases, as well as many very expensive sets that aren't getting bought as much.
Some people stopped collecting Lego because it was getting too expensive
Also the CMFs switching to boxes might have had an impact
Does @LEGO not see this? Isn't it pretty obvious to everyone?
C'mon @LEGO
Do you agree?
See @jayong28 article about LEGO's 2023 financial results for more information jaysbrickblog.com/news/legos-first-half-of-2023-fi…
1 year ago (edited) | [YT] | 2