Lotus Bakeries (LOTB) H1 2026 earnings summary

Executive summary

• Revenue reached €749.1 million for HY1 2026, up 14% year-over-year, driven by strong demand for Biscoff® and Natural Foods.

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

• Net result increased by 23.5% to €98.1 million compared to the same period last year.

• The Thailand (Chonburi) plant is fully operational and exceeding expectations, supporting global capacity.

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

Financial highlights

• EBITDA (u) was €156.3 million, representing 20.9% of revenue, up from 19.7% in HY1 2025.

• Underlying EBIT (u) rose 19.4% to €131 million, with operating margin improving to 17.5%.

• EPS increased to €13.1, up from €12.1 in HY1 2025; 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 to 0.3x EBITDA (u), down from 0.6x in June 2025.

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.