Chocolate maker Lindt & Spruengli 2023 sales beat expectations

Swiss chocolate maker Lindt & Spruengli on Tuesday said its 2023 sales grew by 10.3% organically and came in ahead of market expectations, boosted by hikes in product prices and process improvements in its facilities.

The maker of Lindor balls and gold foil-wrapped teddy bears said its overall sales reached 5.20 billion Swiss francs ($6.06 billion) in 2023, up 4.6% when accounting for currency exchange effects. This slightly beat analysts' average forecast of 5.18 billion francs, based on LSEG data.

Lindt & Spruengli expects to achieve an operating profit (EBIT) margin of around 15.5% in 2023. It will report full annual results on March 5. - Reuters