Lotus Bakeries enjoyed a 16% topline growth, with volume sales reaching EUR 1.23 billion. The company also invested more than EUR 120 million last year, mostly in capacity expansion. “This increase was primarily driven by a record volume growth in all three strategic pillars of Lotus® Biscoff®, Lotus™ Natural Foods and Lotus® Local Heroes,” comments Jan Boone, CEO.

In 2024, Lotus Biscoff surpassed the EUR 600 million revenue mark. “Throughout the year, the Biscoff® lines have continued to run effectively at maximized output levels allowing a year-over-year volume growth of 20%,” he adds.

The project to build a new greenfield production facility in Thailand is expected to be completed and begin operations in the second quarter of 2026, to support the company’s plans to expand in the APAC.

The company also shared an outlook for this year, as the available capacity for Biscoff’s cookies allows for a volume increase of not more than 10%. “Lotus Natural Foods with its brands BEAR®, TREK®, nākd®, Kiddylicious® and Peter’s Yard® continue to outperform the market driven by double-digit volume growth.

To support the future growth of the BEAR and nākd brands, Lotus Bakeries also continued to invest in its plant in South Africa (Wolseley).

“I am proud to announce this outstanding set of results for 2024 and I want to thank all 3,364 colleagues of the Lotus family that have contributed to another successful year. In challenging market conditions, Lotus Bakeries remains an industry beacon of profitable growth. I am confident that the growth strategies of Lotus Biscoff and Lotus Natural Foods will further drive the ambition to become a global top 3 cookie and a leader in the better-for-you snacking segment,” comments Jan Boone.

Photo: Lotus Bakeries