Lindt & Sprüngli has managed to increase its operating profit margin, despite “unprecedented” high cocoa costs in 2025.
Group-wide price rises of 19% last year contributed to organic sales growth of 12.4% to CHF5.9bn (£5.5bn), though currency exchange to francs reduced growth to 8.2%. Volumes were down 7.9%: “weak” but better than expected, according to Bernstein analyst Callum Elliott.
In its interim results published for the year to 31 December 2025, Lindt said it was confident it had achieved an operating profit margin of 16.4-16.6%, up by 0.2-0.4 percentage points on 2024.
While much of the group’s organic growth was due to price rises, Lindt highlighted 20.8% sales growth in its own stores and 21 e-shops, as the chocolatier expanded its footprint from 568 stores to 620.
Lindt grew most quickly in Europe, with a 15.3% increase in organic sales to CHF3bn, with its second half “light years ahead” of the 2% growth indicated in scanner data, Elliott said. Its Excellence dark tablets, Lindor brand, and seasonal Gold Bunny and Teddy propelled growth alongside the launch of Lindt’s Dubai Style Chocolate, which Lindt called its “biggest innovation of the year”.
Despite what the company called “weak consumer sentiment”, North America reached 8.9% organic growth. This came primarily in the second half of the year, as strong performance by its Lindor and Excellence brands was joined by Dubai Style Chocolate’s rollout in retail and wholesale.
Further innovations included the global rollout of Excellence Pistachio, and new Lindor flavours such as Shortbread and Golden Caramel.
“Consumers still long for quality, moments of bliss, a small, special treat – and as a premium brand we meet that demand. People are striving for high-quality chocolate that delivers an exceptional experience,” said Lindt & Sprüngli group CEO Adalbert Lechner.
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