- Wednesday, October 16, 2024
Shares of Chocoladefabriken Lindt & Spruengli have experienced a notable increase after the company released its sales report, which surpassed analysts' projections.
As of 1040 GMT on Tuesday, shares have soared by 5.6% to reach EUR109.60.
According to Lindt, their preliminary results for 2023 reveal a sales growth of 4.6% compared to the previous year, amounting to 5.20 billion Swiss francs ($6.08 billion). Additionally, sales have seen a remarkable organic growth rate of 10%.
Consensus estimates provided by FactSet indicated that analysts were expecting revenue of CHF5.16 billion for Lindt, with an organic growth rate of 9.2%.
The company has confirmed that this growth is attributed to all regions, with North America and the rest of the world experiencing double-digit sales growth.
Lindt remains confident in achieving its targeted 2023 operating margin goal of approximately 15.5%. Furthermore, they expect to increase their operating margin by 20-40 basis points for 2024, accompanied by organic sales growth of 6% to 8%.
Stifel analyst Pascal Boll expressed confidence in Lindt's solid 2023 figures and optimistic outlook for 2024, stating that this should reassure the market about the company's commitment to continued growth despite challenges.
Lindt plans to release its full-year results for 2023 on March 5.
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