Lego's Toy Empire Just Created Three Brand New Billionaires
The company is now worth $14.6 billion on an earnings before interest, taxes, deductions and amortization (EBITDA) basis.
The previous top toy producer, California-based Mattel, is valued at $14.4 billion.
Revenue surged 25 percent last year, turning the three children of Kjeld Kirk Kristiansen, Denmark’s richest man -- Sofie, Thomas and Agnete, who hold a combined 37 percent economic interest in the company valued at more than $5.3 billion — into billionaires.
“Lego is on fire,” Gerrick Johnson, an analyst with BMO Capital Markets in New York, told Bloomberg. “It’s the world’s biggest toymaker in terms of net income, operating income and Ebitda. It had a 71 percent gross margin in its latest results and is posting strong sales growth.”