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Chocoladefabriken Lindt & Spruengli AG
XMUN:LSPP

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Chocoladefabriken Lindt & Spruengli AG Logo
Chocoladefabriken Lindt & Spruengli AG
XMUN:LSPP
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Price: 10 330 EUR 0.1%
Market Cap: €41.2B

Chocoladefabriken Lindt & Spruengli AG
Investor Relations

Chocoladefabriken Lindt & Spruengli AG makes premium chocolate products under brands such as Lindt, Lindor, and Ghirardelli. It sells boxed chocolates, bars, truffles, seasonal gifts, and other confectionery items made from cocoa, milk, sugar, and nuts. The company’s products are aimed at shoppers looking for higher-end chocolate for everyday treats, gifting, and holidays. The company sells mainly through grocery stores, specialty shops, duty-free locations, its own branded stores, and online channels. It also supplies restaurants, hotels, and other food-service customers in some markets. Lindt & Spruengli earns money by manufacturing chocolate and selling finished branded products to retailers and consumers, rather than by licensing its name to others. What makes its business model distinct is its focus on premium chocolate rather than mass-market candy. The company controls a large part of the product experience, from recipe and brand image to packaging and retail presentation, which helps it charge higher prices than commodity chocolate makers. It sits near the top of the chocolate value chain, turning cocoa and other ingredients into branded gifts and indulgences that consumers recognize and often buy for themselves or as presents.

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Last Earnings Call
Fiscal Period
Q2 2023
Call Date
Jul 25, 2023
AI Summary
Q2 2023

Record Results: Lindt & Sprüngli reported strong first-half results, achieving record EBIT and net income margins, with organic sales up 10.1%.

Guidance Raised: The company increased its full-year 2023 organic sales growth guidance to 7%–9% (from 6%–8%) and raised EBIT margin guidance to 30–50 basis points improvement.

Pricing Power: Successful price increases of 9.3% helped offset sharp cost inflation, particularly in raw materials like cocoa and sugar, with volume slightly negative but offset by positive mix.

Cost Inflation: Management expects further cost pressure, especially from cocoa and sugar, into the second half and 2024, with some relief from packaging and milk costs.

Continued Investment: Efficiency gains, especially in North America, and increased advertising spend are being reinvested to drive future growth and brand strength.

Sustainability Progress: The company continues to advance sustainability initiatives, including sourcing 67% of cocoa through sustainability programs, publishing a new deforestation policy, and defining science-based climate targets.

Key Financials
Organic Sales Growth
10.1%
Net Sales
CHF2.086 billion
Reported Sales Growth (Swiss francs)
4.7%
EBIT
CHF255 million
EBIT Margin
12.2%
Net Income
CHF205 million
Net Income Margin
9.8%
Free Cash Flow
CHF137 million
Net Debt
CHF939 million
Material Costs (as % of sales)
30%
Tax Rate
18.3%
Share Buyback (repurchased shares)
CHF490 million
Europe Organic Sales Growth
8.9%
North America Organic Sales Growth
11.2%
Rest of World Organic Sales Growth
7.1%
Price Increases
9.3%
Volume/Mix Impact
0.8%
Capital Expenditure
CHF148 million (H1); guidance: CHF250–300 million FY
Cocoa Sourced through Sustainability Programs
67%
Earnings Call Recording
Other Earnings Calls
2023
2020
2018

Management

Mr. Ernst Tanner
Executive Chairman of the Board of Directors
No Bio Available
Dr. Adalbert Lechner Ph.D.
Group CEO & Member of Group Management
No Bio Available
Mr. Martin Hug M.A.
Group CFO, Head of Sustainability Executive Team & Member of Group Management
No Bio Available
Mr. Rolf Fallegger Lic. Oec. Hsg
Member of the Group Management
No Bio Available
Mr. Alain Germiquet
Member of Group Management
No Bio Available
Mr. Daniel Studer
Head of U.S. Operations & Member of the Group Management
No Bio Available
Mr. Guido Steiner
Member of Group Management & Group Operations Officer
No Bio Available
Dr. Jennifer Picenoni
Member of Group Management, Group General Counsel & Company Secretary
No Bio Available
Ms. Nicole Uhrmeister
Chief Human Resources Officer & Member of the Group Management
No Bio Available
Ms. Ana Dominguez
Member of Management Board
No Bio Available

Contacts

Address
ZUERICH
KILCHBERG
Seestrasse 204
Contacts
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