Lotus Bakeries
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Lotus Bakeries (LOTB) investor relations material

Lotus Bakeries H1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2026 earnings summary7 Aug, 2026

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.

Brazil business plan based on the India model
Managing Biscoff capacity through 2028 expansion
Drivers of Natural Foods growth outside the UK
Mondelēz partnership model for Brazil expansion
Phasing of the EUR 500m Biscoff expansion plan
EBIT(u) margin drivers despite Thailand costs
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H2 20265 Feb, 2027
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