Lotus Bakeries Posts 14% Revenue Growth as Biscoff Accelerates Global Expansion
Belgian biscuit maker reports double-digit revenue and profit gains in first half, unveils €500 million five-year investment program for Biscoff brand.
Strong First-Half Performance Driven by Biscoff
Lotus Bakeries NV reported consolidated sales of €749.1 million for the first half of 2026, representing year-on-year growth of 14.0%, according to the company's financial supplement filing (FIN SUPP filing, 2026-08-07). The Belgian biscuit maker's flagship Biscoff brand delivered volume and revenue increases exceeding 20%, while negative currency effects reduced reported sales growth by 2 percentage points.
The company's underlying operating result (EBIT(u)) reached €131.0 million, or 17.5% of revenue, while underlying operating cash flow (EBITDA(u)) climbed to €156.3 million, representing 20.9% of revenue—increases of €21.3 million and €27.0 million respectively versus the prior year (FIN SUPP filing, 2026-08-07). Net profit rose 23.5% to €98.1 million, with earnings per share reaching €121.
Biscoff Expansion Spans Three Continents
The filing disclosed that Lotus Biscoff achieved its strongest performance in Europe, which delivered the largest absolute revenue increase, with particularly strong results in Germany, Italy, Poland, Sweden, Greece, Austria, and Portugal. In the United States, Biscoff remained "the fastest-growing brand in both the cookies and spreads categories" and generated the group's largest absolute country revenue increase (FIN SUPP filing, 2026-08-07). U.S. household penetration for Biscoff cookies now exceeds 10%.
The company highlighted successful partnerships, including its collaboration with Mondelēz International, which expanded in 2026 to include Toblerone, Suchard, Freia, and Marabou brands alongside existing Cadbury, Milka, and Côte d'Or products. The companies have also agreed to explore co-branding opportunities for Biscoff cookies with branded chocolate layers. Additionally, ice cream partner Froneri has launched Biscoff ice cream in 13 European countries, with rollouts planned for Australia and New Zealand in the second half.
Record €500 Million Capital Program Announced
Lotus Bakeries unveiled "the largest in the company's history" investment program, committing at least €500 million in capital expenditure from 2026 to 2030 to expand Biscoff production capacity (FIN SUPP filing, 2026-08-07). The company stated it will produce the full range of Biscoff products across three strategic manufacturing regions: Europe & the Middle East, the Americas, and Asia-Pacific. Estimated group capex for 2026 and 2027 combined will exceed €250 million.
The filing noted that the recently completed greenfield Biscoff production facility in Thailand is "tracking at the upper end of expectations" and increasingly contributing to global production capacity. The Thailand plant added an annualized depreciation charge of €8 million in the first half.
Natural Foods and Local Heroes Contribute
The Lotus Natural Foods segment, comprising BEAR, TREK, nkd., and Kiddylicious brands, delivered "strong sales growth across all brands" with double-digit growth rates in top European markets (FIN SUPP filing, 2026-08-07). BEAR has become a leading brand in the U.S. Kids Fruit Snacking category. The Local Heroes segment, including waffles and Dinosaurus cookies, posted 3% revenue growth.
The company's net financial debt stood at €115.4 million at June 30, 2026, representing a net debt-to-EBITDA(u) ratio of 0.3 (FIN SUPP filing, 2026-08-07). Lotus Bakeries generated a record €300 million in underlying operating cash flow over the trailing 12 months.
According to MarginX data, Lotus Bakeries is expected to report third-quarter 2026 results on November 11, 2026.
This article was generated by MarginX from the FIN SUPP filing on 2026-08-07. It is not investment advice.