Lego Reports 13% Revenue Increase in 2024

Lego is significantly increasing its use of renewable plastics, such as those derived from recycled cooking oil, in an effort to reduce its environmental impact. Despite facing higher costs, the company has committed not to pass these expenses onto consumers. Lego's pivot comes after abandoning a plan to use recycled plastic bottles due to higher carbon emissions from equipment overhauls. Concurrently, Lego is experiencing robust financial performance, with a 13% revenue increase in the first half of 2024, driven by popular sets like Star Wars, Harry Potter, and new partnerships such as Fortnite. This growth contrasts sharply with competitors Mattel and Hasbro, which reported declines in sales. Lego continues to focus on sustainability, aiming to use entirely renewable and recycled materials by 2032, while also catering to a growing adult fan base.