Subscribe Login
A-Brands

Chocolate Maker Lindt & Spruengli Sees Full-Year Sales Rise 8%

Lindt & Spruengli said on Tuesday that strong international sales helped organic sales grow by 8.4% last year and the Swiss chocolate maker backed its sales growth forecast for this year, despite expecting inflation to pose a challenge.

Overall sales rose to 4.97 billion Swiss francs ($5.30 billion) in 2022, the maker of Lindor balls and gold foil-wrapped Easter bunnies said in a statement.

That was slightly ahead of a 4.96 billion franc consensus estimate by analysts.

'Rest of the World'

Despite strong growth in North America and countries grouped in 'Rest of the World,' consumer sentiment dampened in key markets, while sales in Europe fell slightly to 2.30 billion francs from 2.33 billion due to currency effects, Lindt said.

Still, the company said that it was 'confident' of achieving an operating margin of 15% for 2022.

The chocolate maker expects a challenging 2023 due to the inflationary environment, but maintained its sales growth target of 6-8%.

'More Affected By Recessions'

Kepler Cheuvreux analyst Jon Cox said Lindt tends to be more affected by recessions than its peers.

"In the premium segment, Lindt could suffer more than other players, at least in the early stages of recession when retailers tend to cut back on more expensive products," he said.

News by Reuters, edited by Donna Ahern, Checkout. For more A-brand news, click here. Click subscribe to sign up for the Checkout print edition.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

Stay connected with our weekly newsletter
Enjoy the most important stories from the world of Irish grocery retail, curated for you by our team of experts every week.
Stay connected with our weekly newsletter
Stay connected with our weekly newsletter
Enjoy the most important stories from the world of Irish grocery retail, curated for you by our team of experts every week.
Stay connected with our weekly newsletter