Lotus Bakeries (LOTB) H1 2026 earnings summary

Executive summary

• Revenue grew 14% year-over-year to €749.1 million, driven by strong demand for Biscoff® and Natural Foods.

• Biscoff® volume and revenue increased over 20%, with broad-based growth across continents and strong US performance.

• Largest-ever Biscoff® investment program launched, committing at least €500 million across the US, Thailand, and Belgium from 2026–2030.

• The greenfield Biscoff® plant in Thailand is fully operational, supporting global capacity and exceeding expectations.

• Natural Foods segment delivered double-digit growth, with BEAR®, TREK®, and nākd.® outperforming their categories.

Financial highlights

• EBIT (u) rose 19.4% to €131.0 million; EBITDA (u) up 20.9% to €156.3 million year-over-year.

• Net result increased 23.5% to €98.1 million; EPS up 23.5% to €121 per share.

• Underlying net result reached €98.7 million, up 18.5% year-over-year.

• Net financial debt reduced by 37.1% year-over-year to €94.3 million; net financial debt/EBITDA (u) at 0.3x, with strong cash flow generation.

• Non-underlying items decreased to €-0.9 million, reflecting the Thailand plant's operational status.

Outlook and guidance

• Capex for 2026–2027 expected to exceed €250 million, supporting global Biscoff® expansion.

• Foreign exchange headwinds anticipated to ease in H2 2026; ongoing cost pressures from geopolitical and climate risks may persist into 2027.

• Confident in long-term growth potential, supported by strong brands, balance sheet, and continued investments.