Lego’s parent firm logs billions in profit

Kirkbi, which holds the majority shares of Lego, reported an 11.3 billion Danish kroner profit after taxes in 2023, an improvement over the previous year by 600 million kroner. The increase is partly due to positive investment returns, especially from stocks, bonds, and real estate totaling 3.8 billion kroner. CEO Søren Thorup Sørensen is content with converting 2022’s negative outcomes into profits. Kirkbi aims for at least a 5% annual return on their 85 billion kroner portfolio, with a ten-year average of 7.2%. Investments are made in both traditional entities and those supporting sustainability, like renewable energy and plastic recycling. Leadership transitioned to the fourth generation, with Thomas Kirk Kristiansen becoming the chairman of Kirkbi. The company owns 75% of Lego, with the rest owned by the Lego Foundation, backing child-focused projects worldwide.