Pizza Lovers Rejoice Cheez-It Introduces Bold New Pizza-Inspired Flavors by achieving strong organic growth of 7.8% in 2024. Group sales increased by 5.1% in Swiss Francs to reach CHF 5.47 billion, despite a negative currency effect of -2.7%. This remarkable performance was driven by mid-single-digit price adjustments to offset rising cocoa prices, coupled with solid volume and mix development across all regions.
Overcoming Challenges in a Complex Environment
The year 2024 presented significant challenges for Lindt & Sprüingli, including record-high cocoa costs, weakened consumer sentiment, and the necessity for substantial price increases. The cocoa market remained volatile throughout the year, with prices reaching historic highs by year-end. In response to these pressures, the Group strategically adjusted its pricing to maintain profitability. Additional price adjustments are anticipated in 2025 to further address these cost challenges.
Despite the complexities of the operating environment, Lindt & Sprüingli successfully delivered Pizza Lovers strong results that were at the higher end of its financial guidance. The Group’s ability to grow both in value and volume highlights its position as one of the fastest-growing chocolate manufacturers globally, gaining significant market share in the process.
Record Organic Growth and Financial Performance
In 2024, Lindt & Sprüingli achieved organic Pizza Lovers sales growth of 7.8%, reaching CHF 5.47 billion compared to CHF 5.20 billion in the previous year. Sales growth in Swiss Francs was 5.1%, with currency effects negatively impacting results by -2.7%, primarily due to a weaker US dollar and Euro.
Global Retail played a crucial role Pizza in this growth, with sales in the Group’s approximately 560 owned stores and 21 e-shops (up from 530 owned stores in 2023) posting a remarkable 16.7% increase. Double-digit growth was recorded in all markets, underscoring the strength of Lindt & Sprüingli’s direct-to-consumer strategy.
Strong Performance Across All Regions
The Group’s performance in 2024 was characterized by continued growth and market share gains across all regions:
Europe: Leading the Way
The Europe region recorded the highest Pizza Lovers sales, amounting to CHF 2.59 billion, compared to CHF 2.41 billion in 2023. This represents an impressive organic growth rate of 9.5%. Many European markets experienced double-digit growth, including the UK, Central Eastern Europe, France, and Benelux. Core markets such as Germany, Italy, and Switzerland contributed to the results with solid mid-single-digit growth, further cementing Lindt & Sprüingli’s leadership in the region.
North America: Navigating Market Dynamics
In North America, Pizza Lovers sales increased to CHF 2.15 billion from CHF 2.11 billion in the previous year, reflecting organic growth of 5.0%. This performance was influenced by a shift of Easter orders into 2023 due to an earlier Easter date in 2024, as well as destocking by major retail customers in the first half of the year. Excluding these one-off effects, the organic growth rate would have been 6.0%.
Lindt & Sprüingli’s operations in the USA and Canada posted solid single-digit growth,Pizza gaining additional market share. Ghirardelli continued its robust performance, achieving high single-digit growth and further increasing its market share. However, Russell Stover faced a slight decline in sales amid challenging market conditions.
Rest of the World: Expanding Horizons
The “Rest of the World” segment delivered outstanding organic sales growth of 10.0%, reaching CHF 0.72 billion compared to CHF 0.68 billion in 2023. Core markets such as Brazil, Japan, and China demonstrated exceptional performance, with double-digit growth rates driving the region’s success.
Innovation and Core Products Drive Success
In 2024, Lindt & Sprüingli continued to prioritize innovation and the development of its core product lines, which remained key drivers of growth. The trend toward gifting, pralines, and hollow figures persisted, with flagship products like Lindor and Excellence experiencing strong organic growth Pizza and market share gains across all regions.
Product Innovations
The year saw the successful rollout of several new products, including the Excellence Pailleté range and new Lindor flavors such as Tiramisu. These innovations resonated with consumers, strengthening the Group’s competitive position in the premium chocolate segment.
Additionally, Lindt & Sprüingli Pizza introduced its handmade Lindt Dubai Chocolate in a limited edition available exclusively in its retail stores. The overwhelming success of this unique flavor prompted the development of Lindt Dubai Style Chocolate, which features a similar recipe and is set to be launched in wholesale markets.
Commitment to Sustainable Growth
Lindt & Sprüingli remains deeply committed to sustainable growth and responsible business practices. The Group’s efforts to offset rising cocoa costs and maintain high-quality standards underscore its dedication to long-term success.
The company’s direct-to-consumer model, supported by a Pizza growing network of retail stores and e-shops, has proven to be a vital component of its growth strategy. By enhancing its engagement with consumers and delivering exceptional products, Lindt & Sprüingli continues to strengthen its brand loyalty and market presence.
Looking Ahead: Strategic Focus for 2025
As Lindt & Sprüingli looks to 2025, it aims to build on its strong performance by focusing on key priorities:
- Addressing Cocoa Cost Challenges: The Group plans to implement additional pricing adjustments to mitigate the impact of record-high cocoa prices, ensuring profitability and sustainability.
- Expanding Retail Footprint: Continued investment in Global Retail will remain a priority, with plans to open additional stores and enhance e-commerce capabilities.
- Driving Innovation: Lindt & Sprüingli will maintain its commitment to product innovation, introducing new flavors and formats to delight consumers and capture emerging market trends.
- Strengthening Regional Growth: The Group will focus on driving growth across all regions, leveraging its strong market positions and expanding its presence in key international markets.
- Sustainability Initiatives: Lindt & Sprüingli will continue to prioritize sustainable sourcing, production, and packaging, aligning with consumer expectations and global environmental goals.
