Lindt & Sprüngli Provides Earnings Guidance for the Year 2020, 2021 and 2022
July 21, 2020 at 10:30 am IST
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Lindt & Sprüngli provided earnings guidance for the year 2020, 2021 and 2022. For the year, organic sales in the full financial year to be around 5-7% lower than 2019, while the operating profit (EBIT) should be around 10%. The current uncertainty obviously makes the outlook for the current year much less predictable than in the past.
For the coming years, Lindt & Sprüngli confirms its existing mid-to long-term organic sales growth target of 5-7% p.a. It should be possible to exceed this range in 2021 due to the expected catch-up effect. Lindt & Sprüngli expects operating profit to return to the level of around 15% in 2022/23, which should also allow the operating margin to improve again by 20-40 basis points p.a. in the medium to long term.
Chocoladefabriken Lindt & Spruengli AG is a Switzerland-based and globally active holding company developing, producing and selling chocolate products. The Companyâs products are sold under the brand names Lindt, Ghirardelli, Caffarel, Hofbauer and Kufferle. The Company has six production sites in Europe and two in the United States. The Company sells its products mainly in countries within Europe and the North American Free Trade Agreement (NAFTA) countries. In September 2014, it announced the placement of 1 billion Swiss francs worth of bonds issues to finance Russell Stover Candies takeover. The Companyâs subsidiaries include Chocoladefabriken Lindt & Sprngli (Schweiz) AG, Chocoladefabriken Lindt & Sprngli GmbH, Lindt & Sprngli SAS, Lindt & Sprngli (UK) Ltd, Lindt & Sprngli (Poland) Sp. z o.o., L&S (Brazil) Holding Ltd and Lindt & Sprngli (Asia-Pacific) Ltd., among others.