Financial results for the first half of 2023 at LEGO: big slowdown in sales

LEGO today publishes its interim financial results for the first half of 2023 and all the indicators are once again green even if the figures are less impressive than in 2022: LEGO announces a modest increase of 1% in its turnover business compared to the same period in 2022 as well as a sales volume growing by only 3%.

In 2022 over the same period, LEGO recorded a 17% increase in turnover compared to the same period in 2021 which was already setting records as well as a sales volume growing by 13%.

The manufacturer defends itself from a poor performance after three years of exceptional growth by claiming to have conquered market share in a toy sector whose sales are in decline.

From 2021, LEGO was indeed considering this "return to normal" and this stabilization of sales, considering that its customers would end up resuming traditional consumption habits in which the toy would no longer be as important. No worries about the margins generated by the manufacturer during the first half of 2023, they are still just as comfortable and the manufacturer is continuing its active investment policy with, in particular, new production units being installed in the USA and Vietnam.

On the sales side, the European and American markets are doing well, the Chinese market a little less, that's all LEGO says without publishing figures or percentages of progress unlike in previous years.

The manufacturer lists as usual the ranges that are a hit at the start of the year: ICONS, Star Wars, Technic or even CITY and confirms that it has opened 89 additional stores around the world for a total of 988 points of sale currently open, including 187 LEGO Official stores and 801 franchise stores. LEGO also mentions the ongoing partnership with EPIC Games which should come to fruition this year.

If you want to know more about how LEGO spends its money on research, building new factories, various and varied projects or humanitarian actions through the LEGO Foundation, go read the press release (in English) available at this address.