Thanks to the international success of Biscoff biscuits and the natural snack division, Lotus Bakeries is maintaining its momentum. This year the Belgian biscuit manufacturer will invest around 100 million euros in additional capacity.
Growth in turnover and profit
Last year, Lotus Bakeries achieved a turnover of 750.3 million euros, an increase of 13.1 per cent. Therefore, the 13 per cent growth in the first half of the year continued in the second half. The recurrent operating result (REBIT) rose by more than 11 per cent to 123.8 million euros. The recurring net profit amounted to 93.9 million euros, which is 9 per cent higher than 2020.
The group’s most important product category, the caramelised biscuits and its derived products, such as ice cream and spreads, again grew by 15 per cent. The Biscoff products were very popular in China, the United States, the United Kingdom and Germany. The ‘Sandwich Cookie’ launched in 2020 – a chocolate, vanilla or caramelised biscuit filling sandwiched between two round biscuits – is also a huge success and is now available in 25 countries.
Investment plans
However, with annual growth of 20 per cent, the most substantial growth boost came from Natural Foods’ natural snacks. Brands such as Nakd, Kiddylicious and Bear suffered greatly at the beginning of the year but recovered spectacularly afterwards. The total turnover of the division was over 140 million euros and now represents 22 per cent of group turnover.
Because Lotus Biscoff is growing even faster than expected, additional production capacity is urgent and necessary. Therefore, Lotus Bakeries will invest around 100 million euros in additional production lines in Belgium and the United States this year.
