Over the first six months of the year, Lotus Bakeries‘ turnover and profits have once again risen sharply. CEO Jan Boone sees enormous growth potential for the years ahead.
Exceptional results
In the first half of 2021, the Belgian biscuit manufacturer achieved a turnover increase of 13 % to 365 million euros. Even for growth champion Lotus Bakeries, this is unprecedented: over the last two years, turnover has grown by 8.4 % (2020) and 11.5 % (2019).
Profitability improved even more strongly: the company’s recurring operating result grew by 17 % to 64.5 million euros, while recurring net profit was 18 % higher than in the same period last year.
Lotus Bakeries benefited from the gradual easing of the coronavirus measures. The group’s most important product, Lotus Biscoff biscuits, again grew by 20 %. Derivatives such as Biscoff ice cream and spreads also performed well.
The Natural Foods brands Nakd, Kiddylicious and Bear came under pressure at the start of the year, but recovered strongly in the second quarter with 40 % growth. These typical on-the-go products benefited most from the return of ‘normal’ life.
Global brand
Some of the group’s new products have become absolute favourites in a short amount of time. Last year Lotus Bakeries launched, among others, sandwich biscuits, consisting of two round biscuits with a chocolate, vanilla or Biscoff spread in between. That is now “an enormous success and on sale in about 20 countries”, Boone says in Belgian newspaper De Tijd. “It is a good addition to the original Lotus biscuit, and it appeals to a young audience.” In time, the company wants to sell those biscuits in 40 to 50 countries.
Boone is very optimistic about the future and wants to make Lotus Biscoff one of the biggest biscuit brands in the world. “The best part of the Lotus Bakeries story is yet to be written; we have only begun to conquer the world with our two international growth pillars, Lotus Biscoff and Lotus Natural Foods.”
