Lindt & Spruengli Increases Profit Despite Market Slowdown

By Nina Kienle

Chocoladefabriken Lindt & Spruengli reported an increase in profit in 2023 on continued sales growth despite a slowdown in the global chocolate market, and hiked its dividend.

The Swiss chocolatier said on Tuesday that it increased its full-year net profit by 18% to 671.4 million Swiss francs ($758.6 million) compared with the prior year, which it attributed to price increases as a result of higher raw-material prices and inflationary pressure.

Earnings before interest and taxes increased 9.2% to CHF813.1 million, with a margin that expanded to 15.6% from 15.0%.

The company confirmed its preliminary sales figures published in January, which showed sales grew 10% organically, as well as its 2024 guidance.

The group intends to raise its dividend payout to CHF1,400 a registered share--which carry voting rights--from CHF1,300 the prior year, and to CHF140 a nonvoting participation certificate from CHF130, it said.

Write to Nina Kienle at nina.kienle@wsj.com

(END) Dow Jones Newswires

March 05, 2024 02:52 ET (07:52 GMT)

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