Chocoladefabriken Lindt & Spruengli AG
LISN: XSWX (CHE)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CHF 75,125.00 | Dvn | Yshpcbjh |
Lindt: We Increase Our Fair Value Estimate by 9% on Refreshed Long-Term Assumptions
Wide-moat Lindt & Spruengli reported 2023 organic sales growth of 10.3%, ahead of expectations, and indicated that operating margin should come in at 15.5%, slightly ahead of guidance and the 15.4% in our forecast. As expected, the weakening of the U.S. dollar and the euro compared with the Swiss franc weighed heavily on the top-line result, with 2023 reported sales growth of 4.6%, compared with 4.3% in our forecast.