Lotus Bakeries, best known for its Biscoff cookies, reported a robust 10% increase in revenue in 2025, reaching EUR 1.355 billion. This growth was largely volume-driven, with Biscoff sales growing organically by 13%. The company's underlying operating result (EBIT(u)) surged by 12.5% to EUR 232.4 million, and underlying operating cash flow (EBITDA(u)) increased by 12.4% to EUR 273.4 million, outpacing top-line growth. This strong performance led Bank of America (BofA) to reiterate a "buy" rating and raise its price target for Lotus Bakeries to EUR 11,600.
The company's growth was fueled by strong demand across various geographies, particularly in North America and the Rest of the World which showed double-digit growth. Biscoff remains a primary growth driver, with its cookies and spread demonstrating strong global appeal. Lotus Bakeries is strategically investing in expanding its production capacity, including new facilities in Thailand and additional lines in the US and Europe. These investments aim to address supply constraints that limited Biscoff shipments in 2025 and are expected to ease by mid-2026, supporting higher earnings forecasts.
Strategic partnerships also contributed to Lotus Bakeries' success in 2025. Collaborations with Mondelēz International for Biscoff cookie distribution in India and co-branding with Cadbury and Milka chocolates in over 20 countries were highlighted. Additionally, a new ice cream assortment developed with Froneri is set for commercial launch. These initiatives, alongside consistent strong cash flow generation and a reduction in net financial debt to 0.25 times EBITDA(u), underscore Lotus Bakeries' strong financial health and promising outlook for future growth.
