Lembeke (Brussels Morning Newspaper) – In 2024, Lotus Bakeries’ sales increased by 16% to EUR 1,232 million, driven by Biscoff’s 20% volume growth. Net profit rose to EUR 152 million. CEO Jan Boone anticipates further growth, supported by a new Thailand factory opening in 2026.
Lotus Bakeries officials said that they had an outstanding year in 2024. The company posted a profit of 156.3 million euros after being up 19% from the level reported in 2023. The company says their Biscoff cookie is the main reason for this success. Biscoff sales made up 56% of their total earnings.
They mentioned that it is now the 5th best-selling cookie in the world, just behind Oreo, which is the most popular. The demand for Biscoff grew a lot, leading to a 20% rise in sales last year. Officials said that the company had to run its factories at full capacity to meet this demand.
How is Lotus Bakeries expanding biscoff sales despite Production limits and trade challenges?
Lotus Bakeries increased its production by about 10% in 2024 due to current limits. To grow more and stay strong in international markets, the company is putting money into a new factory in Thailand. This factory will open in 2026.
According to officials, it will help them make more products and improve their presence in Asia, where more people want Biscoff cookies. By making more cookies, Lotus Bakeries hopes to keep growing and stay a leader in the cookie market worldwide.
Lotus Bakeries is careful about sharing how much extra production the new factory in Thailand will add. CEO Jan Boone said the factory will help, but they need time to see how well it works before making more plans. He also said the company wants to grow and hopes to increase Biscoff sales by at least 10% yearly.
Boone mentioned they can build more factories in Thailand, Belgium, and the United States if needed. However, he said any new plans will be thought out carefully, and they do not want to grow too quickly.
“A nice piece, but we have to wait and see how efficient it will be in the first few years,”
Says CEO Jan Boone.
“It remains our intention to grow at least 10 percent per year with Biscoff in the coming years.”
Boone believes that possible import duties in the United States will not have much effect on Lotus Bakeries. He mentioned that the U.S. is an important market for the company, and they already have a factory there. Boone also mentioned that while Lotus Bakeries is not very exposed to American import restrictions, they would prefer to avoid any increase in global trade issues.
“The United States is our important sales market, but we have a local factory there. So the import duties will not hurt us much. Although we would of course prefer not to see a trade war.”
CEO Jan Boone
