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."
- Rabobank's early view on Brexit impact on food
- New food waste standard will help monitor progress
- Brexit sparks uncertainty for UK food - comment
- How to win in Australian gluten-free cereal
- Kellogg uses Kashi to finally join party - comment
- Brexit – Live reaction from food industry
- Brexit - UK food trade body issues warning
- Brexit - Europe's food makers call result "a blow"
- Post, ConAgra 'held talks' over Lamb Weston merger
- German dairy group DMK names Ingo Mueller new CEO
- Top Trends in Snacks, Confectionery, and Desserts; Exploring consumer and innovation trends in key categories
- Frozen Bakery Products Market by Type, Distribution Channel, & by Region - Global Trends & Forecast to 2020
- Singapore Food and Drink Report Q3 2016
- Fast Food in India
- Country Analysis Report: Saudi Arabia, In-depth PESTLE Insights