Lotus Bakeries achieves turnover of 1bn euros in 2023
Lotus Bakeries achieved a turnover of 1 billion euros last year, the biscuit company from East Flanders announced on Monday.
This is the first time Lotus Bakeries has achieved a turnover of 1 billion euros. Total turnover increased by 21 per cent to 1.062 billion euros in 2023 when Lotus sold more biscuits and did so at higher prices.
A net amount of 129.3 million remained. That is a quarter more than the year before. “The volume growth demonstrates continued momentum and robust demand across the product range and across geographies,” Lotus said in a press release.
Biscoff, the caramelised biscuit section of Lotus, made a turnover of 500 million euros, an increase of 20 per cent, making it the fifth most popular biscuit in the world.
Sales increased especially in the US, Canada and Australia. The company, based in Lembeke, continues to invest in expanding its American, Belgian and South African factories. Construction work is under way in Thailand for the first Asian factory, which should be commissioned in 2026.
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