Impressive Lego Financial Performance
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In constant currency revenue grew 2 percent compared with the same period in 2018.
Lego financial performance. We are very pleased with these results and I would like to thank everyone in the LEGO Group who contributed to this success. Sales were down and the future was looking pretty bleak for the Danish toy company. Lego has moved into video games movie franchises robotics and smartphone applications to build up sales but revenue growth slowed from 25 in 2015 to just 6 last year.
The passion and dedication of all our LEGO colleagues is inspiring and they responded to extraordinary challenges in. Revenue for the first half grew 4 percent to DKK 148 billion. The weak performance comes after Lego cut 1400 jobs worldwide in September saying its business needed a reset.
Revenue grew 13 percent to DKK 437 billion compared with 2019. Global consumer sales grew 5 percent compared with the same period in 2018. In 2003 Lego was 800 million in debt.
In presenting his report to management in June 2003 Jørgen Vig Knudstorp then head of strategic development had pulled no punches We are on a burning platform losing money with negative cash flow and a real risk of debt default which could lead to a break up of the company. Revenue for 2017 dropped by. Lego Group reported strong results in FY16 with the highest revenue in the companys 85-year history.
To support global double-digit growth Knudstorp said Lego had added complexity into the organization which now in turn makes it harder for us to grow further. FY16s revenue increased by 60 to DKK 379 billion compared to DKK 358 billion for FY15. Sales dropped 30 percent in 2003 and 10 percent more in 2004 when profit margins stood at 30 percent.
There are strong results from the LEGO Group in 2020. Lego Group executives estimated that the company was destroying 250000 337000 in. Consumer sales grew 21 percent for the full year vs 2019.
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