The financial performance enables KIRKBI to reinvest proceeds with purpose, guided by KIRKBI’s long-term vision of building a better future for children by creating unified, engaging LEGO® brand experiences for fans of all ages, playing an active role in tackling global climate change and enabling children’s learning. In 2025, KIRKBI finalised a new group and governance structure to support this long-term vision. The new structure brings together all activities and holdings in three independent business areas as well as a portfolio of financial investments – all under KIRKBI as the Kirk Kristiansen family’s ultimate holding company.
In addition to the business areas, KIRKBI and the owner family support associated foundations benefiting vulnerable children and families worldwide. In 2025, the LEGO Foundation committed a total of DKK 1.7 billion in grants to projects helping children thrive and grow, Ole Kirk’s Fond granted DKK 0.2 billion to children and families in Denmark, and KIRKBI granted DKK 0.6 billion to charity and to the development of Billund as the Capital of Children.
Thomas Kirk Kristiansen, owner and Chair of the Board of Directors of KIRKBI A/S, says:
“Our long-term vision is to build a better future for children. The strong financial performance in 2025, combined with the steps we have taken during the year to introduce a future-proof governance and group structure, gives us solid offset to move forward in delivering on this vision. 2025 was also a year with strong operational momentum, as we continued to invest in the development of the LEGO® brand and in addressing global climate challenges. All with the purpose of building strong businesses and partnerships that create lasting impact for future generations.”
Søren Thorup Sørensen, CEO of KIRKBI A/S, says:
“The LEGO Group once again delivered exceptional performance in 2025, and the other business areas continued to develop and contribute solid results. This performance strengthens KIRKBI’s financial foundation and enables us to reinvest with purpose and support long-term impact and value creation. At the same time, we made important progress in finalising the new group and governance structure for KIRKBI gathering all activities and holdings in dedicated business areas with own boards and leadership. Creating clear accountabilities, focused business areas and a simplified owner model, which gives us a strong platform to deliver on the long-term owner vision in the years ahead.”
With the progress made in 2025, KIRKBI enters 2026 with a strong financial foundation and a clear direction. With continued focus on children, climate and learning, KIRKBI remains committed to reinvesting future proceeds to drive long-term impact.
2025 business highlights
- The LEGO Group: For the LEGO Group, 2025 was an outstanding year. It delivered revenue and consumer sales growth of 12 % and 16 % respectively, and an operating profit of DKK 22.0 billion. Despite substantially increased investments in production capacity – including new factories in Vietnam and the U.S., expansions of existing sites, enhanced retail platforms, digitalisation efforts, and significant sustainability initiatives – the LEGO Group increased adjusted free cash flow to DKK 9.6 billion.
- Merlin Entertainments: Merlin Entertainments welcomed over 60 million guests in 2025, strengthened its partnerships with the LEGO Group and other global entertainment brands and opened LEGOLAND® Shanghai Resort as the first LEGOLAND® Resort in China. Despite improved operating performance before one-off items, impairment and restructuring costs resulted in a negative net result of GBP 406 million.
- KIRKBI Climate: In its first year as a separate entity, KIRKBI Climate advanced activities across Energy Transition, Circular Plastics and Land Sustainability. Its wholly owned U.S.-based renewables company, Adapture Renewables Inc., continued to expand now with more than 800 MW of renewable energy in operation or under construction and a development pipeline of more than 6 GW. KIRKBI Climate also progressed within Land Sustainability, with approximately 900 hectares of new forest established. In 2025, investments in KIRKBI Climate totalled DKK 1.2 billion, bringing total assets to DKK 10.3 billion.
- KIRKBI Education: BrainPOP faced a challenging U.S. education market in 2025. As a result, revenue declined. However, profitability improved with a 16 % increase in operating profit compared to last year, due to tight cost control and a reset of the organisation early in the year.
- KIRKBI Investment Management: The core financial portfolio generated a return of DKK 1.7 billion in 2025 equal to 2.3%, raising the total portfolio value to DKK 81 billion by the end of 2025. The annual return was below benchmark mainly due to currency effects and relatively lower exposure to high-growth investment sectors. However, it maintained a solid 10-year average return of 5.9 %, demonstrating the portfolio’s resilience and strength.
- Science Based Targets: In 2025, KIRKBI continued to deliver further reductions across all three Science Based Targets set for 2032 and already achieved in 2024. Combined emissions from own operations and Real Estate were reduced by 22 % compared to 2024.
About KIRKBI
KIRKBI A/S is the holding company of the LEGO Group and other companies owned by the Kirk Kristiansen family. With a purpose of building a better future for children, KIRKBI is committed to reinvesting future proceeds from the LEGO Group and other holdings into building businesses within three business areas: LEGO Holding, KIRKBI Education, and KIRKBI Climate. Rooted in the values and principles that have guided the LEGO® brand for generations, KIRKBI actively engages in its businesses with the long-term perspective needed to make a lasting difference.
