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.
Dr Dieter Weisskopf
CEO Lindt & Sprüngli Group
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.
Dr Dieter Weisskopf CEO Lindt & Sprüngli Group
Ernst Tanner
Executive Chairman
of the Board of Directors
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.
in million CHF
* 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%.
Founded in 2013, the charitable Lindt Chocolate Competence Foundation is funding and realizing the visionary idea of a Chocolate Competence Center.
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.
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.
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.
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.
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.
On May 10, 2020, the Lindt Home of Chocolate at Schokoladenplatz 1 in Kilchberg will open its doors to the public.
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.
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%.
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.
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.
