Lindt & Sprüngli continues to report impressive growth

Kilchberg, Switzerland-based Chocoladefabriken Lindt & SprüngliAG reported once again sales and profit growth well above the market average in the first half 2013 and succeeds in extending the leading position in all the main markets. As of June 30, 2013, Group sales achieved CHF 1.132 billion. This represents a gain of 9.6% in Swiss francs and organic growth of 8.7% compared to the first half of 2012, which goes hand in hand with a further gain of important market shares.

The operating profit (EBIT) as of June 30, 2013, amounts to CHF 65.5 million, representing an increase of CHF 19.4 million or 42.1% compared to the adjusted figure for the same period in 2012. After deducting income tax at the rate of 25%, the Group’s net income for the first half of 2013 achieved CHF 48.8 million. This represents an increase of CHF 14.0 million or 40.2% compared to the adjusted figures of the previous year (CHF 34.8 million). As of end of June 2013, operating cash flow reached CHF 210.5 million (June 30, 2012: CHF 158.8 million). Net liquidity amounts to CHF 628.0 million (December 31, 2012: CHF 543.0 million).

In North America, the world’s biggest chocolate market, Lindt & Sprüngli reported an organic sales growth of 12.7%. Thus, Lindt & Sprüngli is developing significantly faster than the overall chocolate market and makes a substantial contribution to its growth. Both LINDT USA and LINDT Canada together with GHIRARDELLI added to this very impressive development. The main European markets Germany, France, and UK, as well as Switzerland, also performed very well. In the declining Italian overall market, LINDT was able to maintain its previous year’s sales figures, so gaining market shares. The Group’s expansion continues to progress. The recently opened subsidiaries in Russia, China, and South Africa have successfully started with accelerated development in their respective markets.

The LINDT “Global Retail” concept is best suited to presenting the high quality and diversity of the product assortment to consumers around the world, while creating a lasting shopping experience and generating sustainable customer ties. With organic growth compared to the same period last year reaching an excellent 23.8% at CHF 97.5 million, the activities of the LINDT “Global Retail” division show an impressive development in every respect. This important sector now contributes more than 8% to total Group sales.

For the year as a whole, Lindt & Sprüngli is confirming its medium to long-term strategic targets and forecasts organic sales growth of 6 to 8%. The increase in the operating profit margin compared to the figure of the previous year (i.e. before the IAS restatement) will be at the upper end of the target range of 20 to 40 basis points.

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