Chocoladefabriken Lindt & Sprüengli AG: 2025 results and market reaction
The Swiss chocolatier reported that its 2025 revenue rose by 8.2 percent to CHF 5.92 billion. The increase is the third time the company has broken the CHF 5 billion threshold in its history. A key driver was a disciplined price‑adjustment policy that lifted margins even as sales volumes slipped. Analysts note that the company sold fewer chocolate bars than in the previous year, yet the “saturation” of price hikes offset the decline, delivering an organic growth of 12.4 percent once currency effects were removed.
Pricing strategy and revenue lift
Multiple news outlets highlight that the price strategy was “aggressive” and “sattle‑preiserhöhungen” (significant price hikes). According to the company’s own statement, the rise in prices accounted for the bulk of the revenue gain, while the strong Swiss franc moderated overall growth by 3.9 percent. The 12.4 percent organic increase surpassed market expectations, signalling that the premium‑price model continues to resonate with consumers.
Market reaction
On the day of the announcement, Lindt & Sprüngli shares fell despite the strong earnings. The stock slipped to CHF 117 200 at the close on 11 January 2026, down from the 52‑week high of CHF 134 800. The price‑to‑earnings ratio stands at 42.23, reflecting investor sensitivity to valuation even when fundamentals improve. Broader Swiss indices mirrored the downward mood: the Swiss Market Index (SLI) opened the day in decline, and the SPI also recorded a small loss at 18 459,81 points.
Corporate context
The company’s market capitalization is over CHF 126 billion, and it operates through a network of specialty stores, boutiques, and retail outlets worldwide, with subsidiaries in Europe, North America, and Asia. The firm’s robust distribution network ensures that price increases are passed on to consumers across its global footprint.
Outlook
While the company’s 2025 performance demonstrates resilience, analysts caution that the ongoing strong Swiss franc and potential market saturation could temper future growth. Lindt & Sprüngli’s 2026 outlook will likely depend on its ability to balance premium pricing with volume retention in an increasingly competitive confectionery market.
