Full Year 2025 Lotus Bakeries NV Earnings Call Transcript
Key Points
- Lotus Bakeries NV (LOTBY) reported a strong year with double-digit top-line growth, achieving a 10% increase in sales to €1.35 billion.
- Underlying EBITDA on sales exceeded 20%, marking a 12% increase compared to the previous year.
- Net profit increased by 13%, and the company achieved a historic low net financial debt multiple of 0.25 times underlying EBITDA.
- The successful startup of the first production lines in Chonburi, Thailand, was completed ahead of schedule and within budget.
- Lotus Natural Foods, a strategic pillar, grew by 17%, with Trek and Bear brands contributing significantly to this growth.
- Currency fluctuations, particularly the negative impact of the dollar and pound, affected reported sales in the second half of the year.
- The discontinuation of Lotus Bakeries' own Biscoff ice cream sales due to a new license agreement with Ferrero led to a reduction in reported topline sales.
- The UK market reported only a 2% growth, impacted by currency evolution and the exclusion of Biscoff ice cream sales.
- The new plant in Thailand, while operational, will initially have full overhead costs impacting profitability until additional lines are added.
- The company faces headwinds from foreign exchange effects, with a starting impact of 2.5% due to current currency conditions.
Good morning, everyone. Welcome to the investor call following the announcement this morning of the 2025 annual results of Lotus Bakeries.
I'm Jan Bonner, and joining me today is our CFO Mike Kuvilier, and we are both here in Lambeer.
We will start with the presentation, providing an overview of the performance and also the milestones of 25 and later on the deep dive into the financials.
And of course, following the presentation, we are open for questions from your sites. And in total, we have foreseen 50 minutes for this call in total.
First slide, I'm proud to report another year of strong.
And double-digit top-line growth.
The reported sales in 25 amounted to â¬1.35 billion and that represents an increase of 10%.
This evolution is driven by continued strong volume growth in its second semester for both Lotus Biskov and Lotus Natural Foods.
At constant currencies,
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