Lego said its 2023 revenue was 2% higher compared to the previous year, growing to 65.9 billion Danish krone (around $9.65 billion).
"It was a difficult year," Lego CEO Niels Christiansen told CNBC.
The Danish toymaker said operating profit declined slightly from 17.9 billion Danish krone to 17.1 billion, noting that it had boosted spending on strategic initiatives designed to drive growth.
Net profit came in at 13.1 billion Danish krone in 2023, compared to 13.8 billion the previous year.
Toy company Hasbro earlier this month said its 2023 revenue fell by 15% compared to 2022 and that it expected to see a further decline this year.
Persons:
Lego, Niels Christiansen, toymaker
Organizations:
CNBC, Toy, Hasbro
Locations:
China, U.S, Europe