This post was originally published on this site
Global chocolate markets recovered last year and the maker of Lindor chocolate balls, which kept spending on advertising and new products throughout the pandemic, said it managed to take market share from competitors.
Its Lindor range did well and it recorded double-digit growth in its important European markets in Germany, Italy, Britain and Switzerland, the company based in Kilchberg on Lake Zurich said in a statement.
“Important growth drivers were the ongoing high demand for products for home consumption and a recovery for products for gift-giving occasions,” Lindt said, adding online sales also saw double-digit growth while sales at its own stores were still impacted by pandemic-related restrictions.
Full-year sales rose to 4.59 billion Swiss francs ($5.01 billion), ahead of a 4.55 billion franc estimate in a Refinitiv poll. The company confirmed it expects an operating margin of “around 14%” for 2021. Full results are due on March 8.
In 2022, Lindt wants to achieve sales growth in line with its medium to long-term target of 5-7% per year with an operating profit margin of 15%. In the following years, an increase in the operating profit margin of 20-40 basis points is planned, the company said.
($1 = 0.9154 Swiss francs)
