La Lorraine, the bakery group in control of the Panos chain among others, has managed to achieve excellent numbers for the first part of its fiscal year, mainly thanks to strong Central European growth.
"Up a notch"
Turnover remained pretty much level compared to last year (273 million euro), but company margins went up thanks to an improved production. Company profit grew from 13.7 million to 17.6 million euro, while net profit reached 8.7 million euro (up from 7.9 million euro). EBITDA was up 17 %, from 30.8 million euro to 36 million euro.
"We are investing 70 million euro this year to increase the productivity levels of all our European bakeries. We are also focusing on automated warehousing and logistics, like in the Czech Republic and Poland", CEO Guido Vanherpe explained earlier this year in an interview with De Tijd. A strong Central and Eastern European growth has also boosted turnover.
La Lorraine owns Panos, but also sells frozen bakery products all across Europe. in Western Europe, it also sells flour, fresh bread and pastry.