Price-sensitive customers and subdued demand during the summer heat wave in Europe are cited as reasons. The decline was particularly noticeable in Germany, Switzerland and Austria.
At the same time, the operating margin for 2026 is confirmed, and ahead of 2027 the chocolate giant is once again flagging volume growth. Its long-term goal is annual organic growth - that is, adjusted for items affecting comparability - of 6-8 percent from 2028.
