Swiss-based chocolate company Lindt & Sprüngli posted record sales of CHF 4.088 billion (€3.47 billion) in 2017, representing growth of 4.8% compared to the previous year.
This is the highest value of sales that the confectionery company has achieved in its history, and has been attributed to 'gaining significant shares in almost all markets'.
The company added that, given challenging conditions, such as saturated markets and growing pressure on prices, this represents a good performance.
However, organic sales growth stood at 3.7%, which fell below the group's long-term strategic target, due to the modest growth seen in its US business.
Annual Performance
In particular, Lindt & Sprüngli recorded a strong performance in Europe, where it achieved organic sales growth of 6.2%, boosted by demand in the UK, Germany and Switzerland.
In the NAFTA region, the group recorded a 1.6% organic decline in sales due to the 'challenging US market', however, Lindt Canada achieved double digit growth
The US chocolate companies Lindt and Ghiradelli recorded slight growth, but the Russell Stover business faced a decline in sales.
Meanwhile, in the rest of the world, the company recorded faster-than-average organic sales growth of 12.4%, driven by expansion in Japan, China and Brazil.
For 2017, the group's operating margin is expected to increase within its long-term strategic target range. Lindt & Sprüngli plans to release its full-year results on 6 March.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
