LEGO Makes Surprising Gaming Announcement After Posting Record Profits In 2024

by

Summary

  • LEGO Group’s revenue increased by 13% to $10.8B in 2024.
  • The company’s operating profit rose by 10% to $2.7B last year.
  • LEGO plans to develop video games in-house for broader experiences.

In simple terms, for the year 2024, the LEGO Group experienced a significantly high profit margin due to a rapid increase in their earnings. Additionally, they made an unexpected announcement about their game collection as well.

Speaking about earnings, The LEGO Group announced a 13% increase in their revenue, reaching approximately DKK 74.3 billion, which is equivalent to about $10.8 billion in U.S. dollars.

The LEGO Group Managed To Establish Record Results Last Year

Other impressive highlights from the latest fiscal year from The LEGO Group include:

  • Consumer sales increased by 12%
  • The LEGO Group’s market share grew significantly even with the slightly declining toy market.
  • Operating profit increased 10% to DKK 18.7 billion, which is at $2.7B when converted into USD.
  • Free cash flow was DKK 10.2 billion ($1.4B). This resulted in cash flow from operating activities increasing by 24% supporting substantial investments in new factories and facilities, including in the US and Vietnam.

In the report, the company discussed their partnership with Fortnite, which resulted in the release of physical LEGO sets based on the game and the creation of new in-game experiences like LEGO Islands and Brick Life. The company claims that this collaboration has attracted more than 87 million gamers.

Expect LEGO Games To Be Developed In-House

Instead of relying solely on TT Games for LEGO video games, the toy manufacturer is considering developing them internally, as they’ve hinted at this possibility.

In conversation with the Financial Times, LEGO Group CEO Niels Christiansen stated, “So long as we operate under the LEGO brand, we have the ability to offer a variety of experiences suitable for children of all ages, whether they’re digital or physical. Developing our own games is something we are actively working on and expanding.

It’s uncertain if this statement implies that the company will end partnerships with game studios creating LEGO-themed gaming experiences. Currently, LEGO Fortnite with Epic Games is quite popular, but the company has frequently collaborated with TT Games on projects like LEGO Star Wars: The Skywalker Saga and LEGO Harry Potter among others.

2K Games has teamed up with LEGO for the creation of 2K Drive, a game that didn’t quite gain popularity. The latest notable release from LEGO, however, is LEGO Horizon Adventures, developed by Guerrilla Games and Studio Gobo in collaboration. This title was launched in November 2024 and represents a kid-friendly spin on Guerrilla Games’ exclusive PlayStation series.

Read More

2025-03-11 20:39