Annual Report 2021

Europe

In “Europe”, our largest segment, Lindt & Sprüngli achieved sales of CHF 2.33 billion and organic growth of 13.8%. Germany, France and the UK remain the strongest markets, with the UK seeing growth and significant gains in market share which went against the general market trend.

CHF 2.33 billion

Sales 2021

Map Switzerland (graphic)

Switzerland

Lindt & Sprüngli (Schweiz) AG

354

million CHF
Sales including exports
(duty-free & distributors)

+18.5% growth

Lindt Switzerland, under which the sales of duty-free shops and distributors are also posted, increased its sales by 18.5% to CHF 354 million in 2021. One new retail customer merits particular mention: as of 2021, Lindt products have been on the shelves in all Migros stores. As a result, Lindt is the new number 1 chocolate brand in Switzerland. Lindt products are now on sale in the country’s two largest retailers, among them above all Lindor, the number 1 in the praliné segment. New flavor variants such as hazelnut and double chocolate, together with intensified social media activities, have contributed to the increase in Lindor’s market share. Excellence bars are still the market leader in the dark chocolate bar segment. Additionally, the launch of Lindt Squares has been a great success. This premium segment chocolate snack is designed to attract a younger target group. Switzerland introduced a marketing innovation with resounding success on the online channel: consumers had the opportunity to personalize the traditional Gold Bunny or an entire chocolate gift basket by adding a name. These and other activities supported Easter sales to reach a new all-time high. Our Lindt Shops recorded improved results despite at some locations we are still feeling the absence of tourists. The Lindt & Sprüngli Group responded to the encouraging increase in sales in Switzerland and in the European markets by expanding production capacity at the Olten site by 50%. Between 2021 and 2024, we will be investing CHF 74 million in the Lindt Cocoa Center, a clear commitment to Switzerland as a business location.

Details of our travel retail business sales and of sales via distributors can be found in the chapter “Duty-Free & Distributors”.

Map Germany (graphic)

Germany

Chocoladefabriken Lindt & Sprüngli GmbH

692

million EUR Sales

+11.0% growth

The German market achieved organic sales growth of 11.0% to EUR 692 million. Market share grew across the board in all product groups, with the result that Lindt is now number 1 in the praliné market for the first time. The products most in demand among German consumers were the Mini Pralinés, the popular Gold Bunny and the Lindor brand, which was also named top brand of the year 2021 by a jury of experts. The new “Hello Vegan” range, a product line made from purely plant-based ingredients, received further awards. In the German market, the brand Excellence again achieved increased growth, with “Excellence Cacao Pur” at the forefront. This new product, made from 100% cocoa fruit, outperformed almost all other Excellence bar variants on our own sales platforms. Together with our Lindt Master Chocolatier, we offered consumers a 60-minute webinar in which the Master – like a sommelier for wines – explained the flavor nuances and proposed perfect pairings with other foods. Besides other effects, this also contributed toward the positive growth exhibited by online retail. Looking at seasonal results, Easter and Christmas business went well thanks to a number of new products. For example, at Easter the Gold Bunny was also available in white chocolate with strawberry pieces.

Lindt Excellence Cacao Pur product photo (Photo)
Map France (graphic)

France

Lindt & Sprüngli SAS

398

million EUR Sales

+6.0% growth

In the French market, Lindt & Sprüngli achieved sales of EUR 398 million, representing growth of 6.0%. This was mainly due to the general recovery of the market after the lockdowns, strong growth in sales of chocolate bars and the Christmas business. A variety of marketing activities and new product formats also played an important part. New packaging designs and advertising measures positioned the key brand Lindor – which had previously been seen primarily as a Christmas product – increasingly as an Easter gift. Despite challenging conditions, we succeeded to open two new bricks-and-mortar Lindt Shops in France. As a result, we now operate 25 own shops, where new exclusive products are offered. The new shop-in-shop initiative with our partner BHV Marais, a major Parisian department store, has taken the brand experience to a new level. For seven weeks, Lindt Master Chocolatiers showcased their art of chocolate on-site, directly linking the brand experience with the occasion to purchase. It was a great success: according to estimates, we had 1.8 million visitors, and the event was further leveraged on our social media channels.

Map Italy (graphic)

Italy

Lindt & Sprüngli S.p.A.
&
Lindt & Sprüngli
Retail S.r.l.
&
Caffarel S.p.A.

260

million EUR Sales

+30.9% growth

In Italy, Lindt & Sprüngli achieved sales of EUR 260 million, which equates to significant organic growth of 30.9%. Lindt consolidated its position as market leader in the premium segment in Italy, recording growth in the key products Lindor and Excellence. Easter business, which in the previous year had been severely affected by the pandemic, saw a significant recovery. In the praliné segment, Lindor Double Chocolate was particularly well received, but sales of bar products also rose. Thanks to Lindor, Lindt & Sprüngli is now the market leader in the praliné segment for the first time and overall number 2 in the chocolate market in Italy.

The Lindt brand achieved a worldwide unique success in terms of TV coverage. In collaboration with the fast-growing television broadcaster TV8, we succeeded in getting the Lindt brand involved in two of the most important TV trends of recent years: cooking and casting shows. In the TV show “Maître Chocolatier – Talenti in sfida”, ten participants battled to join our Italian team as a “Lindt Master Chocolatier”. Over five episodes, the participants faced a variety of challenges on the theme of chocolate. The TV event was accompanied by a variety of promotional activities, such as a “Talent Show Celebration Box”, containing all the products that appeared in the program.

Our position in the Italian market region will change in the coming months. During the past financial year, we took over the retail shops of a former sales partner and integrated them into our own retail structure. This will give the brand increased visibility at prime locations. As announced in September, the Caffarel brand will be organizationally integrated within the Italian market organization. Its strong local roots will enable us to achieve synergies, releasing resources for other innovations.

Lindor Double Chocolate product photo (Photo)
Map UK and Ireland (graphic)

UK & Ireland

Lindt & Sprüngli
(UK) Ltd.

254

million GBP Sales

+18.2% growth

In the past financial year, the markets in the UK and Ireland achieved sales of GBP 254 million, reflecting organic growth of 18.2%. In a modestly growing chocolate market, Lindt & Sprüngli outperformed the market in all categories and continues to be the fastest growing manufacturer, with significant market share gain in the UK and Ireland. This is due in particular to a reverse Brexit effect. Keeping our logistics processes running was a major challenge for our company last year. Thanks to sound preparation, however, we were able to ensure the uninterrupted supply of our products even after Brexit. At the same time, we managed the digital channels in the UK successfully and are therefore the market leader in online sales of chocolate. Thanks to strong growth of the Lindor brand and of various new products, Lindt became the second-largest supplier in the Easter and Christmas seasons.

Map Spain and Portugal (graphic)

Spain &
Portugal

Lindt & Sprüngli (España) S.A.

+8.3%

growth

The Spanish and Portuguese markets generated organic sales growth of 8.3% in 2021, to which our successful business in Portugal made a major contribution. The Lindor product group, with its Dulce de Leche, Double Chocolate and Salted Caramel flavors, was a strong driver. Nuxor – for fans of hazelnut – succeeded in winning a lot of new fans, so Lindt was able to consolidate its number 2 position in the praliné segment. Alongside other new products, we launched Lindt’s new ice cream range. In addition, Lindt & Sprüngli has invested in its own sales infrastructure and opened two new shops, and therefore currently operates 21 own stores. Online sales have also grown across all channels, whether through our own e-shops, online marketplaces or online orders via bricks-and-mortar retail partners.

Lindt Nuxor product photo (Photo)

Rest of Europe

Austria

In the Austrian market, Lindt & Sprüngli achieved organic sales growth of 13.4%. Lindor products were also the major sales drivers here, making us the unrivalled market leader for pralinés and seasonal products and putting us in second place for chocolate bars. Lindt is one of the major growth drivers in the Austrian chocolate market and is continuing to gain market share. The “Hello Vegan” product range has been acclaimed as being particularly innovative and meets the Austrian strong demand for vegan chocolate. Within just a few weeks of its launch, “Hello Vegan” had already left its strongest rival in this category trailing behind it. Another trend is the sustained growth of the dark chocolate segment where we are also the clear market leader with Excellence. With Excellence Cacao Pur we will further be able to strengthen this position.

Lindt Gold Bunny product photo (Photo)

Nordic

The Nordic market region (Denmark, Sweden, Norway, and Finland), which had already achieved a double-digit increase in the previous year, again recorded organic sales growth of 12.2%. In these pandemic times, this is a remarkable performance and is also reflected in increased market share. While Excellence has long been Sweden’s favorite brand in the premium bar category, Lindor is now – thanks to the launch of the new Double Chocolate flavor – closing in.

Benelux

The Benelux market region was formed during the past financial year from the Netherlands, which was previously a separate region, and Belgium and Luxembourg, which are operated via distributors. In this region, Lindt & Sprüngli achieved organic sales growth of 28.8% and has thus slightly increased its market share. In this market region the Excellence brand is more significant than Lindor.

Lindt Les Grandes product photo (Photo)

Central Eastern Europe

The Central Eastern Europe market region (Czech Republic, Slovakia and Hungary) achieved organic growth of 25.4%. While starting from a relatively low base, sales from our own Lindt Shops grew particularly strongly, thanks to two newly opened shops and stronger online sales. Of the various products, Lindor was the clear sales driver.

Poland

Organic sales growth in Poland amounted to 20.4%. The overall market for chocolates is growing, with a focus on pralinés. Thanks to the newly launched Salted Caramel flavor, Lindt & Sprüngli benefited with Lindor. In terms of distribution channels, the market organization is seeing a shift towards small residential convenience stores and discounters and is adapting to this change in consumer needs.

Russia

Lindt & Sprüngli Russia achieved organic sales growth of 18.3%. Here, too, Lindor was the most important product in the retail segment. Excellent growth was achieved, thanks to robust growth in sales of Lindor, combined with the expansion of direct-to-customer activities with two new shops being opened in Moscow and St. Petersburg, as well as the launch of the Lindt e-shop.