SWITZ: FY sales, earnings up at chocolate maker Lindt
Lindt enjoyed higher sales and profits in 2013
Lindt & Sprungli saw sales and profits rise in 2013, the Swiss chocolate maker announced today (11 March).
The Lindor owner booked an 8% increase in sales to CHF2.89bn (US$3.29bn). Organic growth totalled 8.6%, the company revealed.
Earnings grew ahead of sales during the year. Operating profit increased 22.4% to CHF404.1m on an EBIT margin of 14% while net earnings rose 23.7% to CHF303m.
Lindt said that it had gained market share in established markets at the same time as pursuing geographic expansion in emerging markets.
The company has grown the proportion of sales generated by its retail division, which now has 200 outlets and accounts for 9% of sales. "Own distribution concepts are vitally important, especially in gaining access to new markets with no strong chocolate tradition, in order to establish the premium brand values of Lindt and enhance familiarity with the brand," the company said.
Alongside the results, Lindt announced a new venture in Brazil.
Commenting on the result, Kepler Cheuvreux analyst Jon Cox said: "We are long-term fans of the case and the management team and we don't deny there has been a step up in earnings dynamics with the expansion of the company's retail expansion."
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