Chocoladefabriken Lindt & Sprüngli delivered its strongest annual performance on record in 2025, reporting full-year sales of CHF 5.92 billion driven by a 19% price increase and double-digit organic growth, even as volumes declined 6.6%. The results underscore the Swiss luxury chocolate maker's continued pricing power in a challenging commodity environment.
Organic sales growth accelerated to 12.4% for the year ended December 31, 2025, up from 7.8% the prior year. Riding that momentum, Lindt simultaneously unveiled a new CHF 1 billion share buyback program — double the size of its previous CHF 500 million initiative — set to launch on June 1.
Profitability held firm despite soaring cocoa prices. EBIT climbed 9.8% to CHF 971 million, with the margin edging up 20 basis points to 16.4%. Net income rose 8.1% to CHF 727 million, and earnings per share reached CHF 3,164, a gain of 8.5%. However, surging raw material costs pushed expenses to 37.5% of sales from 34.8%, compressing free cash flow by 30% to CHF 446 million. Net debt widened to CHF 1.07 billion from CHF 882 million.
Geographically, Europe — representing half of group revenue — led with 15.3% organic growth to CHF 2.96 billion. North America grew 8.9% to CHF 2.18 billion, with Ghirardelli surging 16.2% while Russell Stover slipped 6.2%. Rest of World advanced 11.7% to CHF 0.78 billion. Global retail was a standout, posting 20.8% organic growth across 621 stores, after 53 new locations opened during the year.
Total shareholder returns reached CHF 678 million, including a proposed dividend of CHF 1,800 per registered share pending approval.
Looking ahead to 2026, Lindt guided for organic sales growth of 4% to 6% and a 20–40 basis point improvement in EBIT margin, with medium-to-long-term targets of 6% to 8% annual sales growth. The company flagged cocoa price volatility, trade tariffs, geopolitical risks, and evolving consumer behavior as key uncertainties.
