Annual Report 2019

Reporting Year 2019

Lindt & Sprüngli continues to extend its leading position in the premium chocolate segment.

175 Years Lindt & Sprüngli

We are celebrating 175 years of Swiss chocolate history with the Lindt & Sprüngli Anniversary Magazine.

Global Retail

Our own international network of shops - a recipe for success over the past 10 years.


Foreword

Lindt & Sprüngli continued its growth story in 2019, despite challenging market conditions. The company increased its Group sales, expanded its market share in all strategically important markets and once again grew faster than the overall chocolate market.

CEO Signature

Dr Dieter Weisskopf
CEO Lindt & Sprüngli Group


Letter to Shareholders

We are delighted to report another successful year. In 2019 Lindt & Sprüngli achieved Group sales of CHF 4.51 billion, with organic growth of +6.1%. Once again, we therefore expanded faster than the overall chocolate market and increased our market share in strategically important markets, thereby extending our leading position in the premium chocolate segment.

Download Letter to Shareholders

Dr Dieter Weisskopf

CEO Lindt & Sprüngli Group

Ernst Tanner
Executive Chairman
of the Board of Directors


Anniversary Magazine

There are sometimes special moments when time seems to stand still. These moments are unforgettable - and at Lindt & Sprüngli they are always instilled with passion, creativity, vision and emotion. But we are not standing still – on the contrary, these four pillars are the heart and soul of our business, the motor that drives us forward and guarantees more unforgettable chocolate moments over the next 175 years.


Highlights & Key Figures

2019 was another successful year for Lindt & Sprüngli, with Group sales enjoying organic growth of +6.1% to reach CHF 4.51 billion. All the regions, as well as Global Retail, contributed to this result. The impressive rate of organic sales growth in Europe (+6.2%), North America (5.4%) and the Rest of the World (+7.6%) are just some of the highlights during the reporting period.

Lindt & Sprüngli Group Sales 2019

Group Sales
CHF 4.509 billion
+6.1% compared to previous year
 
Operating Profit (EBIT)
CHF 593 million
-6.9% compared to previous year
 
Net Income
CHF 511.9 million
+5.1% compared to previous year
 
Investment Volume
CHF 247 million
 
Employees worldwide
14,600
 
 

* Includes one-off effects of CHF 81.6 million. Without these effects the EBIT amounts to CHF 674.6 million and the EBIT margin to 15.0%.


Kilchberg is the home of chocolate

Lindt & Sprüngli is delighted to celebrate its 175th anniversary with the opening of the Lindt Home of Chocolate, funded and realized by the Lindt Chocolate Competence Foundation.

PROJECT PLANNING

Founded in 2013, the charitable Lindt Chocolate Competence Foundation is funding and realizing the visionary idea of a Chocolate Competence Center.

ARCHITECTURAL COMPETITION

The Basel-based architects Christ & Gantenbein won the competition with a modern design that presents a striking counterbalance to the historical Lindt & Sprüngli factory building from 1899 and blends in perfectly with the existing surroundings.

BUILDING CONSENT

In 2016, the local authority in Kilchberg granted the building consent for the project on Lindt & Sprüngli's factory premises which will support long-term innovation in Switzerland's chocolate industry.

LAYING THE FOUNDATION STONE

The excavations for the building project began in 2017. In September of the same year, the Lindt Chocolate Competence Foundation celebrated the laying of the foundation stone and started the building of the superstructure.

COMPLETION SUPERSTRUCTURE

After just one year of building work, 16,000 cubic meters of concrete and 2,500 tons of steel, the 20 meter high superstructure of the Lindt Home of Chocolate was completed in 2018.

INTERIOR CONSTRUCTION

The interior fitting-out of the multifunctional building was in full swing from 2018 to 2019. The finishing touches were done towards the end of the year.

GREAT OPENING 2020

On May 10, 2020, the Lindt Home of Chocolate at Schokoladenplatz 1 in Kilchberg will open its doors to the public.

Markets

In 2019, Lindt & Sprüngli once again grew faster than the overall chocolate market and gained significant market shares. The global market for premium chocolate continues to grow, strengthening Lindt & Sprüngli's position as one of the world's premium manufacturers.

Lindt & Sprüngli Group Sales 2019

Europe

In largely saturated and highly competitive chocolate markets in "Europe", Lindt & Sprüngli still managed to expand its market share and increase organic sales by +6.2% to a total of CHF 2.15 billion. Sales growth was particularly strong in the United Kingdom, Germany and Austria. But sales also rose in the home market of Switzerland, as well as in Spain, Italy and France. All the Eastern European subsidiaries even reported double-digit growth.

North America

In 2019 the "North America" segment was once again characterized by structural change in the retail sector and mounting price pressure. Despite the difficult market conditions, the segment achieved organic sales growth of +5.4%.

Rest of the World

Lindt & Sprüngli's "Rest of the World" segment once again achieved solid organic sales growth of +7.6% in 2019, pushing sales up to CHF 600 million. Brazil, China and Japan all reported dynamic sales growth in the high double digits in 2019.


Global Retail

Global Retail once again achieved double-digit sales growth in 2019 and total sales of around CHF 600 million, making a notable contribution to the overall Group result.


Financial Report

In the financial year 2019 Lindt & Sprüngli achieved Group sales of CHF 4.51 billion, equivalent to organic growth of +6.1%. The important market of Europe reported solid organic growth of +6.2%, the segment North America +5.4% and the Rest of the World +7.6%. Global Retail also made a significant contribution to the Group's performance, with sales of around CHF 600 million. As a result, Lindt & Sprüngli once again grew faster than the overall chocolate market in 2019.

Group Sales 2019

 
 

Operating Profit (EBIT) 2019

 

* Includes one-off effects of CHF 81.6 million. Without these effects the EBIT amounts to CHF 674.6 million and the EBIT margin to 15.0%.


Corporate Governance

One of our top priorities is to create transparency and thus ensure confidence in our company. Through its commitment to good corporate governance, Lindt & Sprüngli creates sustainable value for its shareholders, consumers, employees and other stakeholders.


Compensation Report

Lindt & Sprüngli's success as a company relies on the commitment of its dedicated and professional staff. In a highly competitive labor market, we strive to attract and promote the best talents, and ensure they stay with us over the long term. In the interests of our shareholders, we take a transparent and sustainable approach to compensation. This Compensation Report describes the basis and principles of remuneration for the most senior officers of the Lindt & Sprüngli Group.


Global Brands
76% of Sales

Regional Brands
22% of Sales

Local Brands
2% of Sales