Biscuit maker Lotus surpasses 10bn euro market value

Belgium’s Lotus Bakeries, famous for its Biscoff cookies, has surpassed a market value of 10 billion euros for the first time, following a surge in its stock price this year. The company, based in Lembeke, East Flanders, has seen its share price double since January, reflecting its successful international expansion efforts.

Lotus, best known for its speculoos biscuits marketed as Biscoff, has been expanding globally, with factories in South Africa and the United States and plans for another in Thailand by 2026. “This is yet another milestone in the company’s history,” said Erik Joly, chief economist at Dutch bank ABN-Amro. 

Last year, Lotus Bakeries achieved 1 billion euros in annual revenue. Now it joins a select group of top-valued companies on the Brussels stock exchange, alongside giants like beer brewer AB-InBev and biopharmaceutical company UCB.

The company’s stock closed at 12,260 euros on Tuesday, representing nearly a 50 per cent increase since the start of the year. 

^{​#FlandersNewsService | Lotus Biscoff biscuits on sale in San Francisco © BELGA PHOTO SISKA GREMMELPREZ}

Related news

Lotus Bakeries posts 20 per cent growth as stock price reaches new record

Lotus Bakeries achieved a turnover of 599.3 million euros in the first six months of the year, 20 per cent more than in the same period last year...

belganewsagency.eu

Lotus Bakeries and Euronav enter Bel20

Biscuit maker Lotus Bakeries and shipping company Euronav will join the Bel20 index, stock exchange operator Euronext announced on Wednesday. They...

belganewsagency.eu