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LEGO has just released their financial details for the first half of 2017 and it’s not looking too good for the best toy brand in the world. Compared to the same time as last year:

– Revenue down 5 percent to DKK 14.9 billion compared with DKK 15.7 billion
– Operating profit down 6 percent to DKK 4.4 billion compared with DKK 4.7 billion
– Net profit down 3 percent at DKK 3.4 billion compared with DKK 3.5 billion
– Cash flow from operating activities was DKK 4.6 billion compared with DKK 3.9 billion

LEGO Group Chairman, Jørgen Vig Knudstorp stated,

We are disappointed by the decline in revenue in our established markets, and we have taken steps to address this.

We are working closely with our partners and we are confident that we have the long-term potential of reaching more children in our well-established markets in Europe and the United States. We also see strong growth opportunities in growing markets such as China.

Some of the best performing themes for 2017 include LEGO City, LEGO Friends, LEGO DUPLO, and LEGO Technic, all in-house IPs. The LEGO Batman Movie also did very well.

As a result of the profit decline, the company will have to trim its total global workforce by about eight percent which is about 1,400 jobs by the end of the year.

The LEGO Group will now have to restructure the company as well as having to clean up their inventory to simplify the business model.

What are your thoughts on this surprising … Continue

A few days ago, LEGO celebrated their 85th anniversary and they have been releasing some content to commemorate the event. Throughout its history, LEGO has evolved from a wooden toy company to the largest toy company in the world. If you haven’t seen the video yet, it’s basically a condensed version of its long history. What is your fondest memory with LEGO? Let us know in the comments.

Earlier today, The LEGO Group has announced that they have reached their 100% renewable energy target three years ahead of schedule. After spending about a DKK 6 billion/£700m investment over four years into offshore wind farms, the output from these projects have exceeded the energy use from the LEGO factories, offices, and stores globally. Their latest investment in the Burbo Bank Extension wind farm will provide power for more than 230,000 British households. You can read more about this milestone in the link above.

Facts about Burbo Bank Extension

The Burbo Bank Extension wind farm is a joint venture between DONG Energy (50%) and its partners PKA (25%) and KIRKBI A/S (25%), parent company of the LEGO Group.
The wind farm is located 7 kilometres off the coast of Liverpool and has a capacity of 258 megawatts, enough to supply renewable energy to 230,000 British households.
The wind farm consists of 32 MHI Vestas V164-8.0 MW wind turbines.
KIRKBI A/S invested approximately DKK 3.3 billion (GBP 375 million) in the construction of the wind farm, bringing the total amount invested in building offshore wind power to over DKK 6 billion (GBP 680 million).

Facts about the LEGO Group’s 100% renewable energy milestone

Since 2012, KIRKBI A/S has invested approximately DKK 6 billion in renewable energy on behalf of the LEGO Group, equivalent to 162 megawatts.
In addition to Burbo Bank Extension, KIRKBI A/S owns 31.5% of the Borkum Riffgrund 1 offshore wind farm in Germany, which can produce 312 megawatts and provide clean energy for 320,000 … Continue