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Lindt chocolate to raise prices again this year / Photo: THOMAS KIENZLE - AFP/File
NYSE - LSE
Lindt chocolate to raise prices again this year
Swiss chocolate maker Lindt & Spruengli announced Tuesday that it would raise prices again in 2025 after strong sales last year showed that increases had not cut the appetite of consumers.
The group had already hiked prices by "mid-single" digits last year to offset the rising costs of cocoa.
"The cocoa market was volatile in the reporting year, with cocoa prices remaining at a historic high by the end of 2024," Lindt said in a statement.
"Offsetting the high cocoa costs forced the Group to adjust its pricing, which will be further required in 2025."
The company posted organic sales growth -- which excludes currency fluctuations and acquisitions -- of 7.8 percent in 2024 to 5.47 billion Swiss francs ($6 billion).
It was higher than the 5.45 billion francs expected by analysts surveyed by Swiss business news agency AWP.
Cocoa prices soared 161 percent last year, reaching $10,100 per tonne in mid-December before easing to $9,165 at the end of 2024.
Lindt said it expects organic growth of seven to nine percent in 2025 and an improved operating profit margin.
(A.Johnson--TAG)
