Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on CHOCOLADEFABRIKEN LINDT-REG. We currently have 6 research reports from 1 professional analysts.
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FY trading update: strategic goals kept despite challenging environment
17 Jan 17
Sales grew organically by 6% (H2: 7.6%, in line with our forecast and slightly better than consensus of 5.7%) and 6.8% on reported figures (in line with consensus, FX: 0.8%). Excluding Russell Stover, sales grew organically 7.4%. FY OG by region: Europe +7.4%, NAFTA +3.4% and ROW +10.2% (driven by Japan and Brazil). Global Retail recorded double- digit growth.
Russell Stover portfolio adjustments drag OG but bottom line remains solid
22 Jul 16
L&S released its H1 update. Organic sales stood at 4.4% (cons. 5.3%) and were up +6.6% on reported figures. Weaker than expected OG is linked to adjustments to the Russell Stover portfolio (SKU reduction that does not fit into the strategy, coupled with price increases and decreasing promotional activity). Excluding Russell Stover, organic sales were up 6.6%. OG by region: 5.7%, NAFTA +0.8% (+6.6% excluding the effect of Russell Stover) and ROW +10.2%. The EBIT margin increased by 20bp (better than expected) booking a CHF98.4m operating profit in H1 (in line with expectations). The FY guidance is maintained: 6-8% organic growth and an increase in EBIT of 20-40bp.
Aims to boost its Global Retail Network by 2020
08 Mar 16
L&S has released its FY accounts. As a reminder, at the time of the trading statement, the group reported 7.1% organic sales growth (4.8% in H2). On a FY basis, operating profit stood at CHF518.8m (slightly above consensus and our estimates). The operating margin rose 20bp (10bp better than expected). Net profit increased by 11.2%, and the proposed dividend is up 10.3% to CHF800. For FY16, the group confirms its mid- to long-term guidance: 6-8% organic growth and an increase in EBIT of 20-40bp.
FY trading update: H2 OG disappoints
14 Jan 16
FY trading update. Organic sales growth stood at 7.1% (only 4.8% OG in H2). On the reported figures, sales progressed by 7.9% (negative FX effect stood at 5.6%, in local currencies sales progressed by 13.5%) to CHF 3.65bn. By region, Europe OG was at 5.6%, NAFTA achieved 7.9% OG, whereas ROW OG stood at 11.4%. The group expects the FY operating profit margin to be at least the same level as last year. More details with the full financial statement on 8 March.
18 Aug 15
L&S released its H1 results. As a reminder at its H1 trading update, the company reported 9.4% OG (6.4% in volume and 3% in price/mix) excluding Russell Stover's results. Total sales (including Russell Stover) increased by 17.4% to CHF1,409m with a -7.5% FX effect. Russell Stover's integration added 15.5% to the results. The group grew organically in all regions: Europe 6.9%, NAFTA 10.3% (excl. Russell Stover) and ROW 18.9%. On reported figures, Europe's sales declined by 4.9%, NAFTA's was up by 69.2% (and by 14.9% excluding Russell Stover) whereas ROW delivered 13.3%. EBIT stood at CHF90.6m (in line with our estimates). The EBIT margin was flat yoy with Europe +120bp, NAFTA +20bp and ROW down by 30bp. The group's net income reached CHF65m (+16.5% yoy). L&S confirmed its FY outlook: 6-8% sales OG and 20-40bp EBIT margin expansion once the Russell Stover integration is accomplished.
H1 trading update: impressive numbers in spite of strong FX headwinds
15 Jul 15
H1 trading update: the company reported 9.4% OG excluding Russell Stover's results. Total sales (including Russell Stover) increased by 17.4% to CHF1,409m (-7.5% FX effect). The company confirmed its mid long-term outlook: 6-8% sales OG and 20-40bp EBIT margin expansion once the Russell Stover integration is accomplished.
Panmure Morning Note 19-01-2017
19 Jan 17
Today’s H1FY17 pre-close is more than just solid; it demonstrates FIF’s resilience. As flagged at September’s FY16 results and, as demonstrated by both November’s reassuring AGM trading statement and today’s encouraging H1FY17’s pre-close, FIF is both well-prepared and well-equipped to offset considerable input cost pressures and maintain its progress on multiple levels, whilst the scope for accretive M&A in a highly fragmented market remains an added attraction. We maintain our BUY.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
Agriculture starts FY2017 ahead of expectations
10 Jan 17
Carr’s Group’s (CARR LN, HOLD, T/P 175p) issued a statement today which confirmed that the company continues to trade in line with the Board’s expectations for the current financial year. The announcement refers to 18- week period which ended on 7th January and is the first pre-AGM statement since the disposal of the flour milling business for £36m.
Successful Christmas trading leads to...........forecast upgrades
17 Jan 17
On the back of a very strong Q3 trading period, with revenues up by over 70% and volumes by 56%, the Board now anticipates that Distil’s FY17 results “will be ahead of current market expectations”. We are consequently raising our revenue forecasts for the next three years, which also see improvements to our bottom line PBT projections. Brand marketing spend growth of 88% in Q3 was running ahead of revenue growth, reflecting the ongoing brand investment across the product portfolio. This dilutes the impact of operational leverage, but still sees our previous PBT loss of c £120K educe by to thirds to £40K. A strong Q4 performance could potentially see Distil achieve breakeven, but we prefer to err on the side of prudence at this stage.
10 for 17
09 Jan 17
As always at the start of a year, there are significant uncertainties about the year ahead but I think in 2017, the level of uncertainly has decisively moved up a gear. In fact, a leading economist at the LSE, Ethan Ilzetzki, was recently quoted as saying “I view the current global economic environment as the most uncertain in modern history”. Wow.