Lembeke / BE. (lbbv) Consolidated revenue of Belgium’s Lotus Bakeries Group grew by EUR 185 million to EUR 1,063 million in FY-2023. The revenue growth realised in H1-2023 kept its high pace to end the year with an impressive sales increase of 21 percent. Organic growth in 2023 is driven by strong volume growth and price increases. Consolidated sales include around one percent of negative exchange rate effect.
The volume trend in the second half of the year further improved to end with a full year increase of just below 10 percent. The volume growth is primarily organic, about one percent accounts for the sales relating to the acquisition of «Peter’s Yard». Volume growth of 2023 demonstrates continued momentum and robust demand across the entire product range and across the different geographies. The broad portfolio of branded products was quite resilient against the impact of inflation and consumer spending.
All three pillars of «Lotus Biscoff», «Lotus Natural Foods» and «Lotus Local Heroes» have realised double-digit growth in 2023. This company-wide contribution to growth reflects the strength of the three pillar strategy and underpins the resilience of the brands.
Chief Executive Jan Boone: «I am extremely proud to announce that we reached this EUR 1 billion revenue milestone in 2023. I want to call out foremost a special thank you to all 2,984 people at Lotus Bakeries who made this possible. This is a team effort from all of us, working together every day, across boundaries of departments, brands and countries.
«People make the difference, and that is why it’s important to continue investing in and focusing on the Social component of ESG. We seek attention for the well-being of our people, aiming for them to be motivated and safe, providing opportunities for professional and personal development, and to spend their time working together in well-equipped offices, and to enjoy good working conditions in the plants. Ultimately, we believe that fostering physical gatherings among our Lotus Bakeries’ people cultivates the unique Lotus Bakeries culture of Teamwork, Open dialogue and Passion.
«We are convinced that the achievement of the EUR 1 billion milestone stems from this unique TOP culture. We firmly believe in the effectiveness of our strategy and hold a positive view about the future prospects of Lotus Bakeries and its aspirations.» For additional info please read the company’s PDF file below (429 KB):20240206-LOTUS-BAKERIES-FY2023.