The LEGO Group’s CEO Niels B. Christiansen is set to reveal the company’s 2020 financial results in an exclusive livestream event next week.
You’ll need to head to the LEGO Newsroom on Wednesday, March 10 at 9.30am UK time to tune into the livestream, which will cover the LEGO Group’s earnings, profits and losses for the fiscal year of 2020.
We already know the company has done pretty well out of the pandemic, with its first-half sales for 2020 growing by 14% compared to 2019. But you didn’t need the interim results announcement to tell you that: you just needed to look at LEGO.com on any given day last year, and see the majority of its best sets listed as ‘temporarily out of stock’ or on back order.
Factory closures no doubt contributed to that stock shortage, of course, but the numbers speak for themselves: revenue grew by 7% in the first half of the year alone, while operating profit grew by 11%. The question now will be whether the LEGO Group managed to maintain that growth while balancing its inventory issues in the run-up to Christmas.
If it did indeed manage to meet the demand placed on it by millions of people stuck at home with nothing else to do but build with bricks, we could be looking at the company’s healthiest financial results since the post-LEGO Movie boom in the mid-2010s.
We’ll have to wait for next week’s livestream to find out for sure, but the very nature of the announcement suggests the LEGO Group is preparing to shout loud and proud about how well it performed in 2020.