Lotus Bakeries: reports sales growth of 19% in H1-2024

Lembeke / BE. (lbbv) Consolidated sales of Belgium’s Lotus Bakeries Group grew to 599.3 million in the first half of 2024. This represents a year-on-year increase of 19.6 percent or EUR 98.1 million. The sales growth is primarily driven by a robust and broad-based volume increase of more than 16 percent across geographical segments and the three strategic pillars. Price increases have, combined with foreign currency impact, a limited contribution of 3 percent in the total revenue growth of 19.6 percent.

The Ebit(u) (EUR 97.5 million or 16.3 percent on revenue) and the Ebitda(u) (EUR 115.8 million or 19.3 percent on revenue) increased by EUR 19.0 and EUR 20.0 million respectively compared with last year. The increase of Ebit(u) and Ebitda(u) of 24.3 percent and 20.9 percent respectively confirms the robustness of the growth strategy. The strategic focus allows to translate sustainable organic growth into solid profits and cash flow. The latter in turn allows to continue investments in the brands and in the expansion of production capacity to fuel and support further future growth.

Chief Executive Jan Boone: «After growing more than 20 percent and reaching the billion euro sales milestone in 2023, I did not expect we would add another 20 percent or EUR 100 million of sales already in this first half year of 2024. The strong volume growth for «Lotus Biscoff» and «Lotus Natural Foods» underlines the continued momentum and potential of the brands. We are a growth company and we need to support and invest in the brands accordingly. That is also why we announced a step-up in media investments in «Lotus Biscoff» as one of the key activation levers of the «Biscoff» growth strategy. This will be a long term and sustained investment needed to further build on our global awareness and ambition for the brand.» For additional info please read the company’s PDF file below (347 KB):

20240812-LOTUS-BAKERIES-H12024.