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26 Jan

Positive Fragrance and Price Increases Boost Givaudan’s 2022 Results

PARIS — Business at Givaudan, the world’s largest fragrance and flavors supplier, was boosted in 2022 by its fantastic fragrance activity and price increases.

Net profit on the Vernier, Switzerland-based company rose 4.2 percent on-year to 856 million Swiss francs, or $929.9 million, while company sales were up 6.5 percent in local currency and by 5.3 percent on a comparable basis to 7.1 billion Swiss francs.

Gilles Andrier, chief executive officer of Givaudan, in a press release called 2022’s environment “difficult,” partially resulting from higher input costs and inbound supply-chain disruptions.

“Once more, we’ve demonstrated our strong give attention to supporting the expansion of our customers through excellent supply-chain performance, whilst at the identical time delivering modern and impactful solutions, that are a key a part of our 2025 strategy,” he said.

Givaudan highlighted it had registered good growth across product segments and geographies. The group’s business in mature markets gained 1.9 percent and 9.9 percent in high-growth markets on a like-for-like basis.

“The corporate continues to implement price increases in collaboration with its customer to completely compensate for the increases in input costs,” Givaudan said.

In late January 2022, the group said it could realize price increases throughout the course of the yr, resulting from the upper input costs.

Givaudan recorded strong growth from its fragrance and wonder division, with sales of three.26 billion, representing a 5.3 percent rise in Swiss francs and 5.5 percent in like-for-like terms. Price increases helped buoy that. 

On a like-for-like basis, fantastic fragrance sales rose 14.3 percent, consumer product sales were up 2 percent ­— against a robust comparable, and fragrance ingredients and lively beauty’s growth was 10.2 percent.

Sales at the corporate’s taste and wellbeing division equaled 3.86 billion Swiss francs, a rise of seven.5 percent in Swiss francs and 5.2 percent on a like-for-like basis.

Givaudan’s net debt at year-end 2022 stood at 4.53 billion, versus 4.39 billion at the tip of 2021.

The corporate reiterated its goals for 2025. By then, it goals for organic sales growth of 4 percent to five percent on a like-for-like basis and a free money flow of no less than 12 percent — each measured on a mean over a five-year period.

“As well as, we aim to deliver on key non-financial targets around sustainability, diversity and safety, linked to Givaudan’s purpose,” the group said.

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