Lindt & Spruengli Increases Sales, But Sees Slowdown Ahead
January 16 2024 - 3:23AM
Dow Jones News
By Nina Kienle
Chocoladefabriken Lindt & Spruengli reported increased sales
for 2023, with strong organic growth in North America that allowed
it to offset currency headwinds, but said it expects slower growth
in 2024.
The Swiss chocolatier said on Tuesday that its preliminary
results show an increase its 2023 sales of 4.6% compared with the
prior year to 5.20 billion Swiss francs ($6.08 billion), offsetting
a negative currency effect of 5.4%. Sales grew 10% on an organic
basis.
All regions contributed to sales growth in 2023, with
double-digit growth in North America and the rest of the world
region, which includes the company's operations outside Europe and
North America, Lindt & Spruengli said.
The company said its is confident in meeting its 2023 goal of
achieving an operating profit margin of around 15.5% compared to
the 15.0% of the previous year.
For 2024, Lindt & Spruengli forecasts organic sales growth
of 6% to 8% and an increase in operating profit margin of 20-40
basis points, both ranges in line with the group's medium to
long-term target range, it said.
Full-year results for 2023 are expected to be reported on March
5, the company said.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
January 16, 2024 03:08 ET (08:08 GMT)
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