Belgium-based snack maker sees profits jump 23.5%, driven by Biscoff® momentum in the US and Europe; company announces record €500 million expansion plan
Lotus Bakeries, the Belgian company behind the Biscoff® cookie brand, reported strong first-half 2026 results, with revenue climbing 14% year-on-year to €749.1 million, boosted by robust demand for its Biscoff® and Natural Foods product lines.
Key Figures (H1 2026 vs H1 2025)
- Revenue: €749.1 million (+14.0%)
- Underlying operating profit (EBIT(u)): €131.0 million (+19.4%), or 17.5% of revenue
- Underlying operating cash flow (EBITDA(u)): €156.3 million (+20.9%), or 20.9% of revenue
- Net profit: €98.1 million (+23.5%)
- Earnings per share: €120.7 (+23.5%)
- Net financial debt: €94.3 million, down 37.1% — just 0.3 times EBITDA(u)
Biscoff® Leads Growth
Biscoff® cookies and spread, the group’s flagship brand, grew revenue and volume by more than 20%, with Europe delivering the largest absolute revenue gain and the United States posting the biggest gain by country. Household penetration of the Biscoff® cookie in the US now exceeds 10%.
The brand’s partnership with confectionery giant Mondelēz — which sells Biscoff®-flavored chocolate under brands including Cadbury®, Milka®, Toblerone® and Côte d’Or® — continues to expand, with further product and geographic growth planned.
A new Biscoff® ice cream range, produced with partner Froneri, has launched in 13 European countries, with early UK results described as strong. The brand also benefited from a viral social media trend pairing Biscoff® cookies with Greek yoghurt to mimic Japanese-style cheesecake.
CEO Jan Boone said the company aims to make Biscoff® the world’s third-largest cookie brand, adding that discussions are underway with Mondelēz on a strategy for Brazil, a market the company sees as underdeveloped.
Lotus’s Natural Foods division — which includes BEAR®, TREK®, nākd.® and Kiddylicious® — also posted strong, broad-based growth, with double-digit gains in Europe’s top markets and continued expansion in the US.
Record €500 Million Expansion Plan
Lotus Bakeries announced its largest-ever investment programme: at least €500 million to expand Biscoff® production capacity across three continents between 2026 and 2030, covering:
- Mebane, US — a new production hall for cookies and spread, expected to come online around 2029
- Chonburi, Thailand — a second production hall at the recently completed plant, with a new line operational before end-2027
- Lembeke, Belgium — an additional hall at what is already Europe’s largest single-product cookie site, construction now underway
Combined group capital expenditure for 2026 and 2027 is projected to exceed €250 million.
Outlook
Lotus Bakeries said it expects currency headwinds to ease in the second half of 2026 but flagged continued cost pressure from geopolitical tensions in the Middle East and climate-related risks. The company said it remains confident in its long-term growth prospects.
Full-year 2026 results are due to be announced on 5 February 2027.
