Lotus Bakeries, manufacturer of Belgium’s emblematic Biscoff (Speculoos) biscuits, has reported a large surge in sales last year, with the company achieving a turnover of €1.23 billion, up 16% from 2023, the company announced on Thursday.
The company, also known for its production of packaged waffles and an array of sports bars and kid’s snacks, credits its increased turnover with “record volume growth in the three strategic pillars: Lotus Biscoff, Lotus Natural Foods and Lotus Local Heroes,” CEO Jan Boone announced in a press statement.
In 2024, Lotus Biscoff’s production lines ran at full capacity, producing a turnover of over €600 million. The company is also currently constructing a factory in Thailand, which is expected to be fully operational in the second quarter of 2026. The company hopes that this plant will further increase the brand’s production capacity.
In 2022, the popular Belgian brand announced an ambitious push into the Asian market, which already accounted for 15% of the company’s total sales. Lotus currently operates factories in Belgium, the United States and in South Africa and sales offices across the Asian market.
Lotus Bakeries’ operating income (EBIT) increased by 18.2% to over €201 million, while its net profits for 2024 increased by 19% to over €156 million. The company expects to pay a dividend of €76 per share on the back of these results, an increase of 31%.
