COPENHAGEN, Denmark — Lego stated Tuesday that revenues increased by 5% in 2022 from a year earlier and sales increased even as it raised costs on higher-ticket toys.
The Danish toy business stated web earnings increased to 13.8 billion kroner ($2 billion) from 13.3 billion kroner. Sales were up 12%, while profits grew 17% to 64 billion kroner ($9.2 billion).
CEO Niels B. Christiansen called 2022 “a turningpoint year” as the independently held business renowned its 90th anniversary.
We “landed the year beyond expectations on the back of extraordinary development last year and inspiteof difficult market conditions,” he stated.
With inflation growing, Lego increased costs on about a quarter of its items, Christiansen stated.
“The low-cost items were not impacted. The boost was primarily on our costly items,” he stated. “Despite that, we saw our sales boost.”
Lego stated that there