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Lotus Bakeries
Financial Analysts’ Meeting
Year Result 2011
February 14th, Lembeke
➲ Net sales
➲ Financial Results
➲ Overview 2011
➲ Outlook 2012
➲ Net sales
➲ Financial Results
➲ Overview 2011
➲ Outlook 2012
Evolution of Total Net Salesin mio EUR
0
25
50
75
100
125
150
175
200
225
250
275
300
19
86
19
87
19
88
19
89
19
90
19
91
19
92
19
93
19
94
19
95
19
96
19
97
19
98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
2006 2007 2008 2009 2010 2011
179,3
224,5
256,7 261,1 264,8275,6
Evolution of Total Net Salesin mio EUR
Evolution of Total Net Sales per Semester
2011 2010 Evolution %
Sem 1 Sem 1
133,571 127,190 + 5.0
Sem 2 Sem 2
142,027 137,633 + 3.2
12 m 12 m
275,598 264,823 + 4.1
x 1000 EUR
Evolution of Net Sales by Geographical Area
Belgium 31,8%
Netherlands 28,7%
France 16,3%
NE EU 7,1%
N-America 6,0%
UK3,4%
Export 6,8%
Evolution of Net Sales; Area Belgium
➲ Further support growth potential
➲ Strong media campaigns
➲ Focus on TOP-products
➲ Assortments optimalisation
Evolution of Net Sales; Area Netherlands
➲ Growth gingerbread market
➲ Relevant for specific target groups and specific markets
➲ Further optimization baking process for more tender and delicious gingerbread “Wholegrain“ (volkoren) and “Less sugar"
Evolution of Net Sales; Area France
France: billboard campaign 2011
Evolution of Net Sales; Area North-Eastern Europe
➲ Start SOF Poland
➲ Lotus Speculoos and Anna’s Pepparkakor available.
Evolution of Net Sales; Area UK
➲ Growth in retail and out of home
Evolution of Net Sales; Area North America
➲ Significant growth of OCB
➲ Good introduction OCB-spread
➲ Relaunch Anna’s products (new packaging design).
Media campaign in Spain
Evolution of Net Sales; Area Export
➲ Growth sales Lotus Caramelized biscuits thanks to the sampling at the Shanghai World Expo.
➲ Start of sales office in China for further growth in China and other export markets.
China
➲ Net sales
➲ Financial Results
➲ Overview 2011
➲ Outlook 2012
Income statement & Ratio’s
Income Statement 2011 2010 Evolution %
Turnover 275,598 264,823 + 4.1
REBIT 36,363 34,955 + 4.0
REBITDA 49,362 48,713 + 1.3
EBIT 33,668 34,081 - 1.2
Financial Result (688) (2,960) - 76.8
Result before taxes 32,980 31,121 + 6.0
Taxes (9,165) (8,055) + 13.8
Net result 23,815 23,066 + 3.2
Ratio’s 2011 (%) 2010 (%) Evolution %
REBIT on turnover 13.2 13.2 -
REBITDA on turnover 17.9 18.4 - 2.8
Tax on EBT 27.8 25.9 + 7.3
Financial Result
➲ The financial result amounted to a cost of kEUR 688 compared to a cost of EUR 3 million in 2010.
➲ Main reasons of the positive evolution:
➲ considerably lower interest expense
➲ positive evolution of the market value of the instruments used to hedge interest rate and exchange risks in 2011
➲ positive exchange rate differences.
Net Financial Debt
2006 2007 2008 2009 2010 2011
63,4
42,3 40,427,0 23,8
10,9
31/12/2011 31/12/2010 Evolution %
Net financial debts 10,882 23,763 - 54.2
Net Financial Debt/REBITDA
2006 2007 2008 2009 2010 2011
2,23
1,090,88
0,56 0,49
0,22
Evolution Capital Expenditurein mio EUR
2006 2007 2008 2009 2010 2011
10,3
7,3
10,89,2
17,1 17,0
Evolution Gross Dividendin mio EUR
2006 2007 2008 2009 2010 2011
4,405,40
6,807,80
8,80 9,40
➲ Net sales
➲ Financial Results
➲ Overview 2011 - CSR
➲ Outlook 2012
Corporate Social Responsibility"Care for today , Respect for tomorrow"Meeting the needs of today's generations, without endangering the means of existence of future generations.
“Care for today, Respect for tomorrow”
Lotus Bakeries products meet the current food legislation and are intended to be as healthy as possible. In the ‘semi-luxury’ foods
category they guarantee a consummate taste experience.
Sustainable useof Resources
Employees SocietyFood & Health
➲ Net sales
➲ Financial Results
➲ Overview 2011
➲ Outlook 2012 – Investments
Outlook 2012
1. Investments Geldrop & Sintjohannesga
2. New Headquarter Lembeke
Investments Geldrop and Sintjohannesga
➲ Koninklijke Peijnenburg plans to invest around € 18 million in Geldropand Sintjohannesga in order to continue to produce the most tasty gingerbread in the most modern gingerbread bakeries.
➲ The out-of-date bakery in Geldrop wil be closed and production will be relocated to the second bakery in Geldrop and to the bakery at Sintjohannesga in Friesland.
➲ 25 jobs will be lost in Geldrop, while 17 additional jobs will be created in Sintjohannesga.
➲ By doing so, Koninklijke Peijnenburg will be better able to react to the growing and changing demand for gingerbread.
Production Geldrop Production Sint Johannesga
Outlook 2012
1. Investments Geldrop & Sintjohannesga
2. New Headquarter Lembeke
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