Sales Report 2009

• Lindt & Sprüngli gains further market shares in a challenging environment
• Organic growth of 2.3% in local currency terms
• Substantial progress in North America

Kilchberg, January 19, 2010 -Chocoladefabriken Lindt & Sprüngli AG achieved sales worth CHF 2.52 billion and an organic growth of 2.3% in an extremely difficult market environment for premium products.

Lindt & Sprüngli reported sales worth CHF 2.52 billion in 2009 (previous year: CHF 2.57 billion). This is equivalent to an organic growth of 2.3% in local currency terms. As already implemented in the first half of 2009, payments to trade partners for services rendered are now deducted from sales and no longer booked as operating expenses. The turnover of the previous year was restated accordingly. Due to adverse exchange-rate factors, annual sales in Swiss francs decreased by 1.9%. In view of the challenging situation on the markets for premium and luxury products, this sales growth in local currency terms is a satisfactory result.

Sales in the USA, together with Canada and Australia, showed above average development especially in the second half of the year. In the USA, LINDT and GHIRARDELLI were once again the fastest growing chocolate brands in 2009, and reported further substantial market share gains. On the other hand, in most European countries negative consumer sentiment, combined with very cautious ordering by the trade, brought only modest growth. Further proliferation of the hard discounters in which LINDT products are not available because of the company's selective distribution strategy, and demand for private labels which increases particularly strongly in times of crisis, had a corresponding impact on the premium business. Due to a very weak overall trend on the market as a whole, rising market shares were nevertheless gained. In Italy, the ongoing shift from the traditional trade - in which LINDT has an above average and CAFFAREL an exclusive presence - towards modern distribution channels had a noticeable influence. Sales via modern trade channels on the other hand proceeded dynamically. The distribution business was affected by the difficult position of the importers, who were additionally confronted with financial problems on their home markets and unpredictable exchange-rate movements. Duty-free sales declined because of the strong fall in airline passenger numbers.

The operating profit (EBIT) expected at the end of 2009 will be at the lower end of the range announced last spring of CHF 260 - 280 million.

Prospects for 2010

For the time being, Lindt & Sprüngli expects the challenging situation on the commodity markets to continue, especially for cocoa prices, accompanied by ongoing exchange-rate fluctuations and continuing subdued consumer sentiment. In this particularly sensitive environment, the prices of LINDT products will presumably be adjusted only in certain specific cases this year, as the company will continue to focus on strengthening the market position and gaining further market shares. In line with the geographical expansion strategy of the Group, the first LINDT Chocolate Café in Asia, namely in Tokyo, will be opened in early 2010. In the second half of 2010, Lindt & Sprüngli expects to see a gradual improvement of the economic environment and consumer sentiment in most countries and assumes that the trade will have a more optimistic stance as the year progresses. This in turn will have corresponding impulses on premium products.

More details at the press conference on annual results: Tuesday, March 16, 2010, (10 a.m.) in Kilchberg