Annual Report 2021

1. Organization, Business Activities and Lindt & Sprüngli Group Companies

Chocoladefabriken Lindt & Sprüngli AG and its subsidiaries manufacture and sell premium chocolate products. The products are sold under the brand names Lindt, Ghirardelli, Russell Stover, Whitman’s, Caffarel, Hofbauer, Küfferle and Pangburn’s. The Lindt & Sprüngli Group has eleven manufacturing plants worldwide (six in Europe and five in the United States) and mainly sells in countries within Europe and North America.

Chocoladefabriken Lindt & Sprüngli AG is incorporated and domiciled in Kilchberg ZH, Switzerland.

The Company has been listed since 1986 on the SIX Swiss Exchange (ISIN number: registered shares CH0010570759, participation certificates CH0010570767).

These consolidated financial statements were approved for publication by the Board of Directors on March 7, 2022.

The subsidiaries of Chocoladefabriken Lindt & Sprüngli AG as at December 31, 2021 are:

Country

 

Domicile

 

Subsidiary

 

Business activity

 

Ownership (%)

 

Currency

 

Capital in million

Switzerland

 

Kilchberg

 

Lindt & Sprüngli (Schweiz) AG

 

P&D

 

100

 

CHF

 

10.0

 

 

Indestro AG1

 

M

 

100

 

CHF

 

0.1

 

 

Lindt & Sprüngli (International) AG1

 

M

 

100

 

CHF

 

0.2

 

 

Lindt & Sprüngli Financière AG1

 

M

 

100

 

CHF

 

5.0

Germany

 

Aachen

 

Chocoladefabriken Lindt & Sprüngli GmbH1

 

P&D

 

100

 

EUR

 

1.0

France

 

Paris

 

Lindt & Sprüngli SAS

 

P&D

 

100

 

EUR

 

13.0

Italy

 

Induno

 

Lindt & Sprüngli S.p.A.1

 

P&D

 

100

 

EUR

 

5.2

 

Luserna

 

Caffarel S.p.A.

 

P&D

 

100

 

EUR

 

2.2

 

Induno

 

Lindt & Sprüngli Retail S.r.l.

 

D

 

100

 

EUR

 

0.01

United Kingdom

 

London

 

Lindt & Sprüngli (UK) Ltd.1

 

D

 

100

 

GBP

 

1.5

USA

 

Kansas City, MO

 

Lindt & Sprüngli (North America) Inc.1

 

M

 

100

 

USD

 

0.1

 

Stratham, NH

 

Lindt & Sprüngli (USA) Inc.

 

P&D

 

100

 

USD

 

1.0

 

San Leandro, CA

 

Ghirardelli Chocolate Company

 

P&D

 

100

 

USD

 

0.1

 

Kansas City, MO

 

Russell Stover Chocolates, LLC

 

P&D

 

100

 

USD

 

0.1

Spain

 

Barcelona

 

Lindt & Sprüngli (España) SA

 

D

 

100

 

EUR

 

3.0

Netherlands

 

Rotterdam

 

Lindt & Sprüngli (Netherlands) B.V.

 

D

 

100

 

EUR

 

0.1

Austria

 

Vienna

 

Lindt & Sprüngli (Austria) Ges.m.b.H.1

 

P&D

 

100

 

EUR

 

4.5

Poland

 

Warsaw

 

Lindt & Sprüngli (Poland) Sp. z o.o.1

 

D

 

100

 

PLN

 

17.0

Canada

 

Toronto

 

Lindt & Sprüngli (Canada) Inc.1

 

D

 

100

 

CAD

 

2.8

Australia

 

Sydney

 

Lindt & Sprüngli (Australia) Pty. Ltd.1

 

D

 

100

 

AUD

 

1.0

Mexico

 

Mexico City

 

Lindt & Sprüngli de México SA de CV1

 

D

 

100

 

MXN

 

285.1

Sweden

 

Stockholm

 

Lindt & Sprüngli (Nordic) AB1

 

D

 

100

 

SEK

 

0.5

Czech Republic

 

Prague

 

Lindt & Sprüngli (CEE) s.r.o.1

 

D

 

100

 

CZK

 

0.2

Japan

 

Tokyo

 

Lindt & Sprüngli Japan Co., Ltd.

 

D

 

100

 

JPY

 

1,227.0

South Africa

 

Capetown

 

Lindt & Sprüngli (South Africa) (Pty) Ltd.1

 

D

 

100

 

ZAR

 

100.0

Hong Kong

 

Hong Kong

 

Lindt & Sprüngli (Asia-Pacific) Ltd.1

 

D

 

100

 

HKD

 

248.3

China

 

Shanghai

 

Lindt & Sprüngli (China) Ltd.

 

D

 

100

 

CNY

 

199.5

Russia

 

Moscow

 

Lindt & Sprüngli (Russia) LLC1

 

D

 

100

 

RUB

 

16.0

Brazil

 

São Paulo

 

Lindt & Sprüngli (Brazil) Holding Ltda.

 

D

 

100

 

BRL

 

230.0

 

 

Lindt & Sprüngli (Brazil) Comércio de Alimentos S.A.2

 

D

 

100

 

BRL

 

40.8

D – Distribution, P – Production, M – Management

1

Subsidiaries held directly by Chocoladefabriken Lindt & Sprüngli AG.

2

The minority shares in Lindt & Sprüngli (Brazil) Comércio de Alimentos S.A. have been purchased in 2021, which is why there are no minority shares anymore as of December 31, 2021 (CHF 5.5 million in prior year). See also note 2 for more information.

Changes in the consolidation scope or of non-controlling interests are disclosed within note 2.