Lindt & Sprüngli cuts growth estimates for 2026

Context

In brief

• Organic growth 2026: between 0 and 2%.
• Previous estimate: between 4 and 6%.
• Summer heat and prices weigh on orders in Europe.
• 2026 EBIT margin confirmed: 20-40 basis points.

Key facts

• Company → Lindt&Sprüngli
• Location → Kilchberg
• New 2026 estimate → organic revenue growth between 0 and 2%
• Previous estimate → organic revenue growth between 4 and 6%
• 2026 EBIT target → improvement of 20-40 basis points
• Next 2027 forecast → publication in the first quarter
• Targets from 2028 → annual organic revenue growth between 6 and 8%

The revision announced in Kilchberg

Lindt&Sprüngli has significantly revised down its forecast for organic revenue growth in 2026. In a statement released Tuesday, the chocolate maker now indicates a range between 0 and 2%, whereas the previous expectation was set between 4 and 6%.

The group attributes the correction to two factors: strong consumer price sensitivity and the extreme summer heatwave. In Europe, CEO Adalbert Lechner explained, the price increases deemed necessary and cautious consumer sentiment resulted in order volumes below expectations.

The weakness mainly affected seasonal business in Germany, Switzerland and Austria. The geographical picture is not uniform, however: in North America and Asia Lindt&Sprüngli recorded robust growth. The statement therefore presents differing dynamics across the group’s regions.

On the cost front, Lindt&Sprüngli expects pressure to gradually normalize in the coming months, following the decline in cocoa prices from historic highs.

For 2026, the target of improving the EBIT margin by 20-40 basis points compared with the previous year remains confirmed. For 2027, the group expects a return to volume growth, supported by an adapted pricing strategy, greater brand investment, falling cocoa prices and rigorous cost management.

The financial forecasts for 2027 will be published in the first quarter. The medium-term targets from 2028 are also confirmed: annual organic revenue growth of 6-8% and an annual improvement in the EBIT margin of 20-40 basis points. The message thus separates three horizons: the reduced estimate for 2026, the expected return to volume growth in 2027 and the medium-term targets from 2028.

Operational details

The comparison for the Swiss audience

Three ranges not to be confused

The practical figure to isolate is the gap between the growth ranges, not just their final value. 2% is the upper limit of the new estimate for organic revenue in 2026. 6% is both the upper limit of the previous 4-6% range and the lower limit of the 6-8% target expected from 2028. 8% instead represents the ceiling of the annual organic growth indicated for the medium term.

The comparison shows a clear trajectory: 2026 is revised downward, while 2027 is associated with a recovery in volumes. The target from 2028 returns to a broader range, but remains a medium-term target and not an additional forecast for 2026.

The Swiss part of the picture

Switzerland is cited together with Germany and Austria among the countries where weakness particularly affected seasonal activity. For the group, the price increases considered necessary and the cautious consumer climate were accompanied by orders below expectations in Europe. The source does not quantify the separate effect of the heat, nor does it indicate a specific price for consumers.

The second element to observe is the cost side. The decline in cocoa from historic highs supports the expectation of a gradual normalization of pressure, while the pricing strategy should be adapted for 2027. For those living in Switzerland, the comparison with their own budget can start from costo della vita in Svizzera, without turning the company forecast into an individual estimate of spending.

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Key points

How to follow the next updates

The source already indicates a useful schedule for monitoring developments, but not a specific date. The reader can therefore follow the matter with a simple procedure and separate company data from personal assessments.

A three-step procedure

1. Note the range expected for 2026 and keep it alongside the previous estimate. The comparison should remain focused on organic revenue growth, without confusing it with volumes or the EBIT margin.

2. Read separately the three signals indicated by the group: order volumes in Europe, pricing strategy and cost pressure. These are different areas, linked respectively to demand, commercial policy and the performance of cocoa.

3. Mark the first quarter as the next checkpoint. This is the period indicated for the publication of financial forecasts relating to 2027. When they become available, the comparison should focus on the return to volume growth and on the objectives stated for the subsequent time horizon.

For a personal reading, it is advisable to keep the company's data separate from one's own situation. The communication refers to price sensitivity, cautious consumption and orders below expectations, but does not translate these elements into a figure valid for every consumer. Anyone who wants to verify their starting point can use the busta paga svizzera as a reference.

For a personal estimate of the relationship between income and expenses, use the calcolatore stipendio/imposte.

Source: tio.ch