Lindt overcomes commodity pressures to record 18% profits surge in H1

By Oliver Nieburg

- Last updated on GMT

Lindt continues to grow far above the overall chocolate market as credits clear market position in premium chocolate
Lindt continues to grow far above the overall chocolate market as credits clear market position in premium chocolate

Related tags Revenue International cocoa organization

Lindt & Sprüngli has reported a double-digit rise in net income as it weathers steep price hikes in key commodities such as cocoa, hazelnuts and almonds.

The company today released its semi-annual report​ (Jan-June 2016) where it registered net income (EBIT) of CHF 90.6m ($92.9m), up 17.5% compared to the same period last year.

Lindt posted its first half (H1) sales last month and reported +17.4% sales growth to CHF 1.4bn ($1.5bn), including contributions from Russell Stover, acquired in July last year.

Growth while competitors experience setbacks

Analysts said​ Lindt’s sales performance was ‘phenomenal’ in a very depressed chocolate market.

The global chocolate category grew 4.9% this year up to June 2015, according to Nielsen, but major players suffered setbacks due to high commodity costs and slowing economies in emerging markets.

Lindt bites into standup pouches

lindt hello bites

Lindt recently introduced Hello Bites in standup pouches to join the burgeoning bite-sized confectionery category. However, the flavors were deemed "too conservative" for one analyst at Mintel.

Nestlé last week​ said its confectionery sales declined $300m in H1. Mondelēz International​ saw net revenues decrease by 9.2% to $7.7 billion in the second quarter (Q2) 2015 and Hershey reported​ a Q2 net loss of almost $100m for the second quarter of 2015 mainly due to China’s slowing economic growth.

 By comparison Lindt grew its sales in its largest region NAFTA region (U.S., Mexico and Canada) by 69.2% to CHF 544.9m ($557.2m) driven by its recent acquisition of Russell Stover.

Increasing cocoa prices

This came despite increasing cocoa costs. The International Cocoa Organization (ICCO) monthly average of daily prices for June 2015 stood at $3239 per metric ton, up 2% from June 2014.

Lindt said in a statement: “Record-high prices for cocoa beans, hazelnuts and almonds, as well as the persistently strong Swiss franc, are creating challenges for Lindt & Sprüngli also. Given the particular nature of these challenges, the company’s long-standing and successful business model is paying off well.”

The firm added its clear market positioning in the premium chocolate segment had helped it grow.

Related topics Manufacturers Chocolate Lindt

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Halal certification

Posted by Grant McDougall,

I like to see that Lint's is doing so well. In fact it just goes to show that many thousand people do not Support Halal certification.Please feel free join Non Halal Australia on Fb, even if your not in Australia feel free to join.

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Lindy is not Halal, they are not being boycotted.

Posted by Firepower,

Lindt is not Halal certified.
There is a world wide boycott of Halal products.
I only buy Lindt, not Nestle, not Mars, not Caburary, etc.

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