Report
Pierre Tegner

Lindt & Sprüngli : Special dividend and earnings broadly in line with a margin of 15%

>Neutral rating unchanged: the share should be supported by the dividend - Neutral rating maintained. The fall on the market in the last few days did not alter the polarisation of valuations in the food HPC sector in both Europe and the USA. The P/E 2021e of 34x is therefore legitimate for a stock that deserves iconic brand status while being strategically concentrated and operationally diversified. The announcement of a special dividend of CHF 1,750/share combined wi...
Underlying
Chocoladefabriken Lindt & Spruengli AG

Chocoladefabriken Lindt & Sprungli is a holding company based in Switzerland. Co. and its subsidiaries manufacture and sell premium chocolate products. Co.'s products are sold under the brand names: Lindt, Ghirardelli, Caffarel, Hofbauer and Kufferle. Worldwide, Co. maintains eight manufacturing plants (six in Europe and two in the United States) and sells mainly in countries within Europe and the NAFTA countries.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Pierre Tegner

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