Lindt & Sprüngli continues double-digit growth in 2022

18-Jan-2023 - Switzerland

Chocolate manufacturer Lindt & Sprüngl <CH0010570759> significantly increased sales last year, scraping the five billion mark. The US companies in particular posted strong growth rates. The company is sticking to its long-term target for 2023. In pre-market trading on Tuesday, the share price rose by a good two percent.

Last year, the chocolate manufacturer turned over 4.97 billion Swiss francs (4.96 billion euros), with organic growth of 10.8 percent. The company thus grew at a slightly slower pace than in the previous year. In 2021, Lindt had still grown organically by a record-breaking 13.3 percent, but this was after an extremely weak Corona year with a sharp decline in sales.

In Swiss francs, Lindt increased sales by 8.4 percent, the manufacturer of Lindor balls announced on Tuesday. The figures presented put the company above its own expectations of 8 to 10 percent organic growth. Analysts polled by AWP had expected an average growth rate of 10 percent.

With the revival of social contacts and increased celebrations, chocolate products for gift-giving occasions were significantly more in demand, they said. As a result, the Lindt brand's most important product line - Lindor - grew strongly across all markets, it said.

The US business was also strong. There, the company posted growth of 15.7 percent, with all three U.S. companies - Lindt, Ghirardelli and Russell Stover, which had recently been flagging somewhat - posting double-digit gains, according to the statement. In the "Rest of the World" region, Lindt even grew by 16.6 percent, while the lowest growth rate was recorded in Europe at 5.3 percent.

Lindt & Sprüngli has not yet announced profit figures - they will then be published in the annual financial statements in the spring. However, the company has already confirmed in the press release that it is targeting an Ebit margin (earnings before interest and taxes) of around 15 percent. It said it was confident of achieving this.

Meanwhile, for the 2023 financial year, which will again be challenging in the inflationary environment, the company is planning sales growth of 6 to 8 percent per year with an improvement in the operating profit margin of 0.20 to 0.40 percentage points, in line with its unchanged medium- to long-term target./tv/uh/AWP/jha (dpa)

Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.

https://www.yumda.com/en/news/1179189/lindt-spruengli-continues-double-digit-growth-in-2022.html