March 3, 2020 / 10:27 AM / a month ago

BRIEF-Chocolate Maker Lindt Not Seeing Big Impact From Virus Outbreak

March 3 (Reuters) - Lindt & Spruengli AG:

* LINDT CFO SAYS CHOCOLATE INDUSTRY TO FACE PRESSURE IN 2021 FROM HIGHER COCOA BEAN PRICES

* LINDT CEO SAYS ITS SALES IN REGIONS AFFECTED BY CORONAVIRUS ARE QUITE LOW, SO NO BIG IMPACT

* LINDT CEO SAYS HAS SEEN IMPACT ON TOURIST PURCHASES OVER THE LAST TWO TO THREE WEEKS, FOR EXAMPLE AT AIRPORTS OR OWN STORES

* LINDT CEO SAYS CO HAS TRAVEL BAN IN PLACE, IN PARTICULAR TO REGIONS AFFECTED BY CORONAVIRUS

* LINDT CEO SAYS DOES NOT CONSIDER SELLING AT HARD DISCOUNTERS

* LINDT CEO SAYS IS WORKING ON VEGAN CHOCOLATE, BUT TASTE IS NOT EASY TO ACHIEVE

* LINDT CEO SAYS PRICE INCREASES FOR CHOCOLATE ARE INEVITABLE DUE TO GHANA, IVORY COAST PREMIUM, NOT ONLY FOR LINDT BUT FOR INDUSTRY AS A WHOLE

* LINDT CEO SAYS NOBODY IN CHOCOLATE INDUSTRY CAN GUARANTEE THAT PRODUCTS ARE COMPLETELY FREE FROM CHILD LABOUR

* LINDT CEO SAYS EASTER CHOCOLATES ALREADY DELIVERED, APRIL-MAY IS LOW SEASON FOR CHOCOLATE SO LESS OF A PROBLEM IF CORONAVIRUS HITS PRODUCTION

* LINDT CEO SAYS MUCH LOWER TRAVEL RETAIL SALES WOULD NOT THREATEN ORGANIC GROWTH TARGET FOR THIS YEAR

* LINDT CEO SAYS WILL ASSESS WHAT TO DO WITH EXCESS CASH, CERTAINLY DOESN’T WANT TO PAY NEGATIVE INTEREST RATES Further company coverage: (Berlin Speed Desk)

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