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Chocoladefabriken Lindt & Spruengli AG (CH:LISN)
:LISN
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Chocoladefabriken Lindt & Spruengli AG
(LISN)
Rating:64Neutral
Price Target:
CHF126,260
▲(9.60% Upside)
Chocoladefabriken Lindt & Spruengli AG (LISN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF26.59B
Dividend Yield1.3%
Average Volume (3M)112.00
Price to Earnings (P/E)41.2
Beta (1Y)0.34
Revenue Growth7.37%
EPS Growth-5.49%
CountryCH
Employees14,973
SectorConsumer Defensive
Sector Strength64
IndustryFood Confectioners
Share Statistics
EPS (TTM)806.50
Shares Outstanding133,905
10 Day Avg. Volume89
30 Day Avg. Volume112
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF125,320.60Price Target Upside8.79% Upside
Rating ConsensusHold
Number of Analyst Covering11
Chocoladefabriken Lindt & Spruengli AG Business Overview & Revenue Model
Company DescriptionChocoladefabriken Lindt & Spruengli AG (LISN) is a Swiss premium chocolate manufacturer renowned for its high-quality chocolate products and artisanal craftsmanship. The company operates in the confectionery sector, specializing in the production of chocolate bars, pralines, truffles, and seasonal specialties. With a strong presence in both retail and direct-to-consumer channels, Lindt is recognized globally for its iconic brand and commitment to excellence in chocolate making.
How the Company Makes MoneyLindt & Spruengli generates revenue primarily through the sale of its premium chocolate products across various markets worldwide. Key revenue streams include retail sales through company-owned stores, online sales, and distribution through third-party retailers and supermarkets. The company benefits from strong brand recognition and customer loyalty, allowing it to maintain premium pricing on its products. Additionally, Lindt engages in seasonal promotions and limited-edition offerings, which drive sales during key holiday periods. Strategic partnerships with retailers and distributors enhance its market reach, while investments in marketing and product innovation contribute to ongoing revenue growth.
Chocoladefabriken Lindt & Spruengli AG Earnings Call Summary
Earnings Call Date:Jul 22, 2025
(Q2-2025)
| % Change Since: -14.54%|
Next Earnings Date:Mar 10, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted strong organic growth, especially in Europe, and successful product launches like the Dubai Style Chocolate. However, challenges in free cash flow, increased net debt, and mixed performance in North America balanced these achievements.Q2-2025 Updates
Positive Updates
Strong Organic Sales Growth
Lindt & Sprüngli reported an organic sales growth rate of 11.2% in the first half of 2025, surpassing their initial guidance of 7% to 9%.
Record Performance in Europe
The Europe segment saw an increase in organic sales by 17.7%, with strong performances in Nordics, Benelux, Central Eastern Europe, France, and Austria.
Dubai Style Chocolate Success
Lindt's Dubai Style Chocolate drove brand awareness and reached new consumer groups, contributing 1% to 2% of total company sales.
Retail Division Expansion
The global retail division experienced strong growth of 22.1%, supported by low price elasticity, with the store network reaching 590 stores worldwide.
Recognition in Kantar BrandZ Ranking
Lindt was named the world's most valuable chocolate brand in the 2025 Kantar BrandZ ranking for the first time.
Negative Updates
Negative Free Cash Flow
Free cash flow was negative at CHF 80 million, primarily due to increased inventory values driven by higher cocoa prices.
Increased Net Debt
Net debt increased from CHF 880 million at the end of 2024 to CHF 1.4 billion, due to lower free cash flow and the ongoing share buyback program.
Mixed Performance in North America
North America showed organic sales growth of 3.6%, behind expectations due to weak consumer sentiment.
Impact of Cocoa Price Volatility
Higher cocoa material costs impacted the EBIT margin, despite being partially offset through efficiency gains and price increases.
Company Guidance
During the Lindt & Sprüngli Half Year Results Conference Call, the company provided guidance on several key metrics. The group achieved an organic sales growth of 11.2% in the first half of 2025, surpassing its initial guidance of 7% to 9%. The EBIT was reported at CHF 259 million, with a margin of 11.0%, aligning with their guidance range of 10% to 12%. Additionally, net income was CHF 189 million with a margin of 8.0%. The company noted a negative free cash flow of minus CHF 80 million, primarily due to increased inventory values attributed to higher cocoa prices. The net debt position rose to CHF 1.4 billion from CHF 880 million at the end of 2024. Looking forward, Lindt & Sprüngli raised its full-year organic sales growth guidance to 9% to 11% and confirmed an EBIT margin increase at the lower end of 20 to 40 basis points. The company also reported a strong retail division growth of 22.1% and highlighted the successful launch of its Dubai Style Chocolate.Chocoladefabriken Lindt & Spruengli AG Financial Statement Overview
Summary
Chocoladefabriken Lindt & Spruengli AG demonstrates strong financial performance with impressive profitability metrics, including a high gross profit margin and solid net profit margin. The company's balance sheet is stable with a conservative debt position and good equity standing. Cash flow generation is robust, supporting growth and shareholder value creation.Income Statement
The company shows a healthy gross profit margin of 65.2% and a solid net profit margin of 12.3% for 2024. Revenue growth rate has been consistent, with a 5.14% increase from 2023 to 2024. The EBIT margin is at a robust 16.2%, reflecting operational efficiency, while the EBITDA margin is 21.8%, indicating strong cash generation ability. Overall, the income statement reflects strong profitability and growth trends.85
Very Positive
Balance Sheet
The balance sheet is strong with a debt-to-equity ratio of 0.34, indicating a conservative leverage position. The equity ratio stands at 52.8%, showcasing good financial stability. Return on equity (ROE) is healthy at 13.9%, reflecting effective use of shareholder funds. The company's balance sheet is stable, though an increase in total liabilities warrants attention.78
Positive
Cash Flow
The company has achieved a significant free cash flow growth rate of 82.1% from 2023 to 2024, driven by increased operating cash flow. The operating cash flow to net income ratio is 1.76, suggesting strong cash conversion from earnings. Additionally, the free cash flow to net income ratio is 1.29, indicating efficient use of cash for reinvestment and shareholder returns. Overall, cash flow metrics are strong and demonstrate robust financial health.80
Positive
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.47B | 5.20B | 4.97B | 4.59B | 4.02B |
| Gross Profit | 3.56B | 3.50B | 2.02B | 1.81B | 1.46B |
| EBITDA | 1.19B | 1.09B | 1.02B | 918.30M | 697.50M |
| Net Income | 672.30M | 671.40M | 569.70M | 490.50M | 321.70M |
Balance Sheet | |||||
| Total Assets | 9.16B | 7.86B | 8.09B | 9.08B | 8.15B |
| Cash, Cash Equivalents and Short-Term Investments | 931.90M | 462.50M | 864.90M | 1.19B | 1.25B |
| Total Debt | 1.66B | 1.41B | 1.44B | 1.48B | 1.46B |
| Total Liabilities | 4.32B | 3.60B | 3.69B | 3.85B | 3.54B |
| Stockholders Equity | 4.84B | 4.26B | 4.40B | 5.22B | 4.60B |
Cash Flow | |||||
| Free Cash Flow | 868.00M | 476.80M | 526.30M | 586.20M | 538.50M |
| Operating Cash Flow | 1.18B | 778.60M | 756.00M | 826.80M | 787.60M |
| Investing Cash Flow | -312.00M | -301.00M | 21.80M | -112.90M | -240.50M |
| Financing Cash Flow | -330.20M | -855.50M | -835.50M | -624.60M | -340.10M |
Chocoladefabriken Lindt & Spruengli AG Technical Analysis
Negative
115200.00
Price Trends
127444.00
Negative
122451.53
Negative
111832.26
Positive
Market Momentum
-3834.59
Positive
28.46
Positive
16.53
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:LISN, the sentiment is Negative. The current price of 115200 is below the 20-day moving average (MA) of 121670.00, below the 50-day MA of 127444.00, and above the 200-day MA of 111832.26, indicating a neutral trend. The MACD of -3834.59 indicates Positive momentum. The RSI at 28.46 is Positive, neither overbought nor oversold. The STOCH value of 16.53 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CH:LISN.
Chocoladefabriken Lindt & Spruengli AG Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Performance Comparison
CH:LISN
Chocoladefabriken Lindt & Spruengli AG
115,200.00
7,799.66
7.26%
CH:BARN
Barry Callebaut AG
948.50
-411.73
-30.27%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.