Lotus Bakery, Case Study

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Lotus Bakeries NV
International case study

Bart Bauwens
Director Export November 2010

Personal introduction
• Bart Bauwens – 1967 • Master in Business Economics - University of Ghent, Belgium – 1991 • Master in Business Administration – National University of Singapore – 2008 • Specialisation in Export Management University of Antwerp, Belgium • 1/1/2000: Start with Lotus Bakeries • Director Sales & Marketing Lotus Bakeries Asia Pacific : 1/11/2003 – 31/07/2008 • Since 1/08/2008: Director Export

Aim of this lecture :
• Introduce you shortly to Lotus Bakeries, our products and our structure and link it to our export strategy • Go over some very simple basic principles to take in consideration in export with focus on 4 P’s • Case: introducing Lotus in China • Challenge you to think beyond the known and see international business with different eyes • Q & A.

Contents :
1) Who is Lotus Bakeries ?
• • • • • • 1.History 2. Products 3.Organization 4.Results 5. Corporate Strategy 6.Realisation most important projects

2) Why exporting ? 3) How to start the export adventure ?

4) Case : Introduction of Lotus in China
5) Q&A

1) Who is Lotus Bakeries ?

1. History

1932

1974

1988

2001

2006

2008

Foundation Lotus NV Merger with Corona

IPO Lotus brand

Acquisition of Koninklijke Peijnenburg (NL) Acquisition of Anna’s Pepparkakor (SE)

2. Products
Caramelised biscuits Gingerbread Cakes Waffles Pepparkakor

Caramelized biscuits

Gingerbread

Cakes

Waffles

Pepparkakor

3. Operational organisation
Corporate headquarters in Lembeke

3. Operational organisation

Corporate Executive Committee Group Management Team Northern & Eastern Europe

Belgium

Netherlands

France

UK

North America

Export

3. Operational organisation
Production plants Belgium: 4 France: 2

Netherlands: 3
Sweden: 1 Canada: 1

3. Operational organisation
Production plants
Canada: Calgary

F: Comines & Briec

SE: Tyresö NL: Enkhuizen, Geldrop, Sintjohannesga B: Lembeke, Oostakker, Meise, Courcelles

3. Operational organisation
Logistics centre
Belgium – Central logistics centre in Lokeren for Belgium, France, Germany and export

3. Operational organisation
Own sales organisations
EUROPE

San Francisco: USA & Canada Singapore: Asia Pacific

3. Operational organisation

Other export markets

• Export department in Belgium for Europe and Middle East • Cooperation with specialized importers

4. Results 2009
Evolution of turnover – in mio EUR

300 280 260 240 220 200 180 160 140 120 100

256,7 224,5 179,3 152,3

261,1

2005

2006

2007

2008

2009

4. Results 2009
EVOLUTION OF TURNOVER - in millions of EUR
Evolution of turnover 2009 – in mio EUR

275,0 250,0 225,0 200,0 175,0 150,0 125,0 100,0 75,0 50,0 25,0 0,0 1987 1994 1995 2001 2002 2009
1988 1989 1990 1991 1992 1993 1996 1997 1998 1999 2000 2003 2004 2005 2006 2007 2008

4. Results 2009
Total turnover 2009
• 261.1 mio EUR

Evolution
• • Compared with 2008: + 1.7% Like for like: stable evolution in 2009 versus 2008, taking in account: • • • Takeover Anna’s Divestment Harry’s Benelux Falling sales Jaffa Cake Bars with expiry of the contract with Mc Vities

Geographical turnover 2009 per area
N-America 6,1% NE EU 8,1% UK 5,1% Export 5,1% Belgium 30,5%

France 14,0%

Netherlands 31,0%

REBIT and REBITDA 2009

mio EUR

2009

2008

Evolution %

Turnover Depreciation and amounts written off
REBIT REBITDA

261.1 (12.1)

256.7 (11.0)

+ 1.7 + 9.8

34.6 48.2

34.0 45.7

+ 1.6 + 5.5

REBIT and REBITDA 6 m 2010/ 6 m 2009

mio EUR
Turnover Depreciation and amounts written off
REBIT REBITDA

6 m 2010 6 m 2009
127.2 (5.6)
17.5 24.3

Evolution %

125.9 (5.5)
16.1 22.7

+ 1.1 + 3.2
+ 8.8 + 7.4

5. Lotus Bakeries growth strategy

General theme of our strategic choices • We focus our growth objectives on expanding...
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