The publication of the company’s Annual Report and Sustainability Report for 2024, also referenced that by the end of 2024, 91.4% of Lindt’s packaging was designed to be recyclable. Additionally, 44.1% of its packaging was made from recycled materials, underlining the company’s commitment to reduce waste and contribute to a circular economy.
In a letter to shareholders, the Swiss chocolatier said it achieved solid financial results despite a challenging environment and exceeded its EBIT margin guidance for the financial year.
In the past 12 months Lindt & Sprüngli grew in both value and volume, positioning it as one of the fastest-growing chocolate manufacturers and thereby gaining market share globally.
Lindt reported a slightly better-than-expected full-year operating profit. Still, Chief Financial Officer Martin Hug told reporters that the company will increase its prices in the double-digit percentage range during 2025 to offset high cocoa prices.
"Tight cost control, efficiency gains, process optimization and price increases offsetting higher cocoa costs contributed to the increased profitability," the chocolate maker said.
Anthony Myers
Hug said Lindt increased its prices by 6.3% in 2024, but that was not enough to offset the steep price increase for cocoa beans.
Lindt & Sprüngli’s 2024 Sustainability Report highlights
- Responsible Cocoa Sourcing: The company sourced over 84% of its cocoa products—including beans, butter, and powder—through the Lindt & Sprüngli Farming Program or other responsible sourcing programs. Notably, 100% of their cocoa beans are traceable and externally verified.
- Farming Program Participation: In 2024, the Farming Program included 118,000 farmers across seven countries, supported by 770 field staff.
- Investment in Sustainability: The company invested CHF 33.6 million ($37.8m) in responsible cocoa sourcing during 2024.
- Decarbonization Efforts: Lindt & Sprüngli developed a comprehensive decarbonization roadmap aiming for net-zero greenhouse gas emissions by 2050, focusing on areas such as cocoa, dairy, packaging, transportation, and energy.
- Responsible Sourcing of Materials: By the end of 2024, over 82% of the company’s priority raw and packaging materials were sourced through responsible programs, achieving their target ahead of schedule.
Lindt & Sprüngli financial snapshot
- In 2024, Lindt Sprüngli grew organically by 7.8% to CHF 5.47 billion (previous year: CHF 5.20 billion). Sales growth in Swiss Francs was 5.1%.
- Currency effects impacted the result by -2.7%, mainly due to the weaker US dollar and Euro. Operating profit (EBIT) increased 8.7% year-on-year to CHF 884.2 million, with an EBIT margin of 16.2% (previous year: CHF 813.1 million, margin: 15.6%).
- Continued tight cost control, efficiency gains, process optimization, and price increases offsetting higher cocoa costs contributed to the increased profitability.
- This resulted in a net income of CHF 672.3 million (previous year: CHF 671.4 million) with a return on sales of 12.3%.
- Without the one-time tax impact in 2023, net income would have increased substantially. Free cash flow came in at CHF 635.3 million, representing a solid free cash flow margin of 11.6%.
- The Group's balance sheet remains robust: As at December 31, 2024, the equity ratio stood at 52.8% (previous year: 54.2%).
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