La Lorraine Bakery Group aims for strong restart in 2021 and strengthens its base in Russia and new growth markets
SHERIDAN, WYOMING – October 8, 2021 – La Lorraine Bakery Group posted revenue of €744 million and an EBITDA of €91 million in 2020. CEO Guido Vanherpe acknowledges that 2020 was a challenging year for the family-owned business due to the temporary sales decline in the affected foodservice channel, but is aiming for strong growth in 2021. This will be driven by the expected recovery of the horeca sector, and the strong acceleration in Russia and other new growth markets.
Like many companies in the horeca and food industries, La Lorraine Bakery Group's operating results have been impacted by the coronavirus crisis. In 2020, the Group posted consolidated revenue of €744 million, down 12% on 2019, and EBITDA of €91 million, down 21% compared to 2019.