The company leveraged its premium positioning and was able to grow above market average once more. In this context, the Group reached sales of CHF 5.92 billion and an EBIT margin of 16.4%.
Growth Exceeding Expectations
In 2025, Lindt & Sprüngli grew organically by 12.4% to CHF 5.92 billion (previous year: CHF 5.47 billion). Sales growth in Swiss Francs was 8.2%, mainly influenced by a negative currency effect of -3.9%. Organic growth was driven by Group-wide price increases of 19.0%, partly offset by a lower than anticipated volume/mix decline of -6.6%.
Operating profit (EBIT) increased by 9.8% year-on-year to CHF 971.0 million, with an EBIT margin of 16.4% (previous year: CHF 884.2 million, EBIT margin: 16.2%), mainly impacted by higher cocoa material costs that were offset through efficiency gains and cost discipline as well as price increases. This resulted in a net income of CHF 726.7 million, 12.3% of sales (previous year: CHF 672.3 million, 12.3%).
Free cash flow came in at CHF 446.3 million, with a cash flow margin of 7.5%, impacted by higher inventory valuations due to increased cocoa costs. The Group’s balance sheet remains robust: As at December 31, 2025, the equity ratio stood at 54.5% (previous year: 52.8%).
Strong Development in Europe
Europe achieved strong organic sales growth of 15.3% to CHF 2.96 billion. All European Lindt & Sprüngli subsidiaries delivered double-digit growth, with the strongest organic growth of more than 20% in Benelux, Central Eastern Europe, the Nordics, as well as Spain and Portugal. Other core markets, such as Germany, Italy, France, the UK, and Switzerland, contributed to the results with solid double-digit growth.
Across all markets, the key growth drivers were Excellence dark tablets, Lindor, the seasonal favorites Gold Bunny and Teddy and the launch of Lindt Dubai Style Chocolate.
Credit for all images above: © Chocoladefabriken Lindt & Sprüngli AG
Resilience Driver: Innovative Premium Leadership
In 2025, Lindt & Sprüngli advanced its leadership in premium chocolate with strong innovations. The launch of Lindt Dubai Style Chocolate, as well as new Dubai Style ranges in the Ghirardelli and Russell Stover portfolios in the US, set a new standard for indulgence. The Group also continued to strengthen its core product range with innovations designed to attract new consumers to premium chocolate. Excellence Fusion and the global rollout of Excellence Pistachio expanded the reach of the world’s leading dark chocolate brand. Lindt Extra Creamy, a premium milk tablet with a smooth texture, launched mainly in distributor markets. Within Lindor, new flavor introductions such as Shortbread and Golden Caramel further reinforced the brand’s role as a global leader in premium chocolate.
Proposed Changes in Management
The Board of Directors have proposed Ricarda Demarmels to the shareholders for election. This proposal is consistent with the Board’s aim of further strengthening the Group’s corporate governance. Ricarda Demarmels, currently CEO of the Emmi Group, has many years of operational experience in the FMCG industry, both in CEO and CFO roles. She is a member of the Board of the Swiss American Chamber of Commerce and the advisory board of the University of St. Gallen (HSG).
Future Outlook
Due to geopolitical uncertainties, Lindt & Sprüngli adjusts its expectation for sales growth to 4–6% with an improvement in the operating profit margin of 20–40 basis points (unchanged) for the financial year 2026.
Lindt & Sprüngli expects the trend from quantity to quality consumption of chocolates to continue, supporting its long-term strategy as a market leader in the premium chocolate category. For 2027 and the years thereafter, the Group continues to reiterate its strategic medium- to long-term organic sales growth targets of 6–8% with an improvement in the operating profit margin of 20–40 basis points per year.
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