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Edge13 Dec 2023
Baking a Family Fortune: The Rise of Lotus Bakeries
Discover how Lotus Bakeries, family-owned since 1932, has grown into a global snack powerhouse with iconic brands and a focus on quality and long-term success.
Lotus Bakeries
Lotus Bakeries (LOTB) investor relations material
Lotus Bakeries H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2025 earnings summary6 Feb, 2026
Executive summary
Revenue reached EUR 1.355 billion in 2025, up 10% year-over-year, driven by strong volume growth in Lotus Biscoff and Natural Foods, with EBITDA up 12% to EUR 273 million and net profit up 13% to EUR 172 million.
Net financial debt reduced to a historic low of 0.25x EBITDA, reflecting strong operational cash flow and deleveraging.
Dividend per share increased to EUR 90, marking the 25th consecutive annual increase.
Major global expansion included the successful startup of the Thailand plant, a major launch in India, and expanded partnerships with Mondelēz.
Successful exit from The Good Crisp Company generated surplus value for the investment fund.
Financial highlights
Revenue grew 10% to EUR 1.355 billion, with volume growth of 9.5% (normalized at 10.4% excluding Biscoff ice cream sales).
EBITDA margin exceeded 20%, with EBITDA up 12% to EUR 273 million.
Net result increased 13% to EUR 172 million; underlying net result was EUR 177 million.
Free cash flow before expansion CapEx rose by 20%; after expansion CapEx, it reached EUR 153 million with a 56% cash conversion rate.
Underlying EPS rose 13% to EUR 218 per share.
Outlook and guidance
EUR 250 million CapEx planned for 2026–2027, focused on capacity increases for Biscoff and Natural Foods.
Biscoff plant in Thailand expected to be fully operational by mid-2026.
EBIT and EBITDA margins for 2026 expected to be in line with 2025, considering full consolidation of Thailand plant overheads and positive impact from Mondelēz partnerships.
Price increases in 2026 will be moderate; growth will be volume-driven.
Negative currency impact of nearly 2.5% expected on first semester 2026 sales at current USD and GBP rates.
Assess India Biscoff launch distribution impact
Quantify Mebane spread production tariff savings
What is the strategic impact of FF2032's first exit?
What Biscoff capacity growth does CapEx enable
2026 EBITDA margin outlook and key drivers
India Biscoff sales target with Mondelez
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Next Lotus Bakeries earnings date
H1 20267 Aug, 2026
Lotus Bakeries
Next Lotus Bakeries earnings date
H1 20267 Aug, 2026
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Frequently asked questions
Lotus Bakeries NV, operating under the ticker symbol LOTB, is a Belgium-based company renowned for its production and distribution of bakery products. The company's extensive portfolio includes a diverse range of indulgent and natural snacks, such as the iconic Lotus Biscoff cookies, ginger snaps, cakes, pastries, waffles, tarts, gingerbread, and various other bakery products. These products are marketed under well-known brands including Lotus, Nakd, TREK, BEAR, Kiddylicious, Peter's Yard, Dinosaurus, Peijnenburg, and Annas. Lotus Bakeries focuses on selling its products through e-commerce platforms as well as traditional stores, catering to a global customer base.The company is headquartered in Lembeke, Belgium, and its shares are listed on the Euronext Brussels (EBR) stock exchange.
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