Lindt & Spruengli Shares Rise After Revenue Beats Views
January 16 2024 - 5:19AM
Dow Jones News
By Nina Kienle
Shares of Chocoladefabriken Lindt & Spruengli rose after the
company reported an increase in sales that exceeded analysts'
expectations.
At 1040 GMT on Tuesday, shares were up 5.6% at EUR109.60.
The Swiss chocolatier said its preliminary results for 2023 show
an increase in sales of 4.6% compared with the prior year to 5.20
billion Swiss francs ($6.08 billion) and sales grew 10% on an
organic basis.
Analysts expected Lindt's revenue to be CHF5.16 billion, with
organic growth of 9.2%, according to consensus estimates provided
by FactSet.
All regions contributed to the growth, the company confirmed,
with double-digit growth in North America and the rest of the world
region.
The company confirmed its confidence in meeting its 2023
operating margin goal of around 15.5%, as well as increasing its
operating margin for 2024 by 20-40 basis points with organic sales
growth of 6% to 8%.
Lindt's strong 2023 figures and confident 2024 outlook should
give the market confidence in the company's ambition to continue on
a growth path despite headwinds, Stifel analyst Pascal Boll said in
a research note.
Full-year results for 2023 are expected to be reported on March
5, the company said.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
January 16, 2024 06:04 ET (11:04 GMT)
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