Lindt & Spruengli Increases Sales, But Sees Slowdown Ahead
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)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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