LOTUS BAKERIES - Let's Bake the Future LOTB BB
Although 2022 looks set to be challenging as they are faced with unprecedented increases in costs, we increase our rating from Hold to Accumulate as Lotus Bakeries is aiming for price increases for its products to meet its targets for margins and to continue to invest in the growth of its brands. We have a € 5,750 Target Price, in line with our DCF, as we think the focused strategy is working and reinforces Lotus Bakeries’ conviction in the international growth ambitions set for both Lotus Biscoff and Lotus Natural Foods. Lotus Bakeries is busy doubling its American caramelized biscuit factory that opened in 2019, and is already thinking of a new expansion.Lotus Bakeries is a bakery group based in Belgium. Co. produces and sells bakery products under the Lotus, Peijnenburg and Annas brand names. Co. focuses on authentic specialties from the biscuit and cake world: original caramelized biscuits (Biscoff), gingerbread, cake specialties, waffles and pepparkakor biscuits. Co. maintains production facilities in Belgium, the Netherlands, France and Sweden. Co. maintains its own sales organizations and cooperates with commercial partners in approximately 10 European countries including the United States, Hong Kong, China, South Korea and Chile.
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