Lotus serves up cookies, fatter dividends and lots of growth


May 13, 2024
Today at
2:39 PM

On Tuesday morning, Lotus Bakeries will serve its shareholders speculoos, waffles and perhaps good news at its general meeting.

Things are going fast for Lotus

. Very loud. Since New Year, the cookie baker’s share has jumped another 19 percent and won a Bel20 ticket. The threshold of 10,000 euros is in sight. It means that whoever bought Lotus in 2000 now has 144 times more. The market value has risen to 8 billion euros.

The shareholders who attend the general meeting in Lembeke at 10 am therefore have no reason to complain. Last year, Lotus exceeded the turnover mark of 1 billion euros thanks to a growth of 21 percent. Gross operating profit did even better with a climb of 22 percent. Biscoff secured a place in the top five best-selling cookies in the world and accounts for 54 percent of sales.

The expansion continues. Lotus will invest 200 million euros in additional capacity over the next two years. In South Africa, the group opened a new factory for Nakd fruit bars in February and the lines in Mebane in the US are being expanded to bake even more Biscoffs for the local market. A factory in Thailand should be operational for the Asian market by 2026.

Gingerbread duration

Lotus is growing like crazy, doesn’t do crazy things and has a healthy balance sheet with a debt ratio of 0.6 times gross operating profit. Just as consumers love the cookies, investors love the stock. At 50 times earnings, Lotus is even ‘gingerbread expensive’.

The family uses the high price to cash in some of its shares.

The family uses the high price to cash in some of its shares. In May, the Holve holding company of the couple Benedkeek Boone and Francis Van Eeckhout, who we also know as CEO of the PVC profile maker Deceuninck, sold 1,250 Lotus pieces at the fair. That earned them 11.8 million euros. Boone is a director at Lotus. The general meeting must extend its mandate.

A fair question for management might be why the company isn’t splitting its stock. With a price tag of almost 10,000 euros, Lotus is no longer something for every investor.

As usual, attendees will receive a cookie and waffle package to take home. But the best dessert is the dividend. Shareholders receive a gross coupon of 58 euros per share, 29 percent more than the previous year.

The article is in Dutch

Tags: Lotus serves cookies fatter dividends lots growth


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