
Lego posted record first-half revenue of 41.9B kroner ($6.54B), up 21%, with operating profit up 22%. CEO Christiansen said new partnerships and pricing range drove sales across kids and adults.
Lego posted record first-half revenue of 41.9 billion Danish kroner, about $6.54 billion, as part of its biannual earnings report Tuesday. Revenue jumped 21% from a year earlier. Operating profit rose 22% to 10.9 billion kroner, or roughly $1.7 billion, the company said.
The strong first half reflected Lego's expanding product catalog and a push into new partnerships. CEO Niels Christiansen told CNBC that new collaborations brought in customers who hadn't seen their passion points represented in the Lego brand before. "That has recruited new consumers," he said. "We've also seen that we retain consumers really, really well, and we're selling more to those we have."
Lego launched 332 new sets during the first six months, another record. It continues to produce legacy sets from prior years. The company also introduced its Smart Play platform, which uses sensors to react to movement and play sound. A long-awaited partnership with Pokemon launched this year, along with expanded sports deals with Formula 1 and FIFA. The ongoing collaboration with Epic Games brings Lego into the digital space and Fortnite elements into the physical world.
Christiansen said Lego is seeing strong sales at both the high end and value pricing, even amid macroeconomic uncertainty. For Star Wars fans, the company offers a $30 set of N-1 Starfighter with a simpler build and a more complicated set with nearly 2,000 pieces retailing for $250.
Lego's product portfolio now spans botanical bouquets and Formula 1 race cars. The botanical line and the Epic Games partnership continue to draw new consumers, the company said.
"What is really nice is that we're growing fast with kids now," Christiansen said. "We're also growing with adults. And the fact that we can master both and we can kind of cover the universe of consumers and not just a segment of it."
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