In the first three months of 2024 (Q1) Givaudan recorded sales of CHF 1,822 million, an increase of 12.6% on a like-for-like (LFL) basis and an increase of 2.8% in Swiss francs.
Segment Highlights
Fragrance & Beauty sales were CHF 900 million, an increase of 16.3% LFL and an increase of 7.5% in Swiss francs.
- On a business unit basis, Fine Fragrance sales increased by 16.8% LFL against a high prior year comparable growth of 20.9%.
- Consumer Products sales increased by 17.6% LFL and sales of Fragrance Ingredients and Active Beauty increased by 10.0% LFL.
Taste & Wellbeing sales were CHF 922 million, an increase of 9.3% LFL1 and a decrease of -1.5% in Swiss francs.
- On a regional basis, the good sales performance was achieved in all regions, with Europe growing by 1.4% LFL, against a high prior year comparable growth of 6.7%, South Asia, Africa and the Middle East sales which increased by 9.4% and Latin America, where sales increased by 45.0% LFL. Sales in North America grew by 5.0% LFL and Asia Pacific increased by 6.5%.
- From a segment perspective there was strong double-digit growth in Snacks, Sweet Goods and Dairy and high single-digit growth in Beverages.
Looking Forward
Givaudan's long-term purpose goals are defined in four domains: creations, nature, people and communities. The company's ambitions include:
- Doubling business through creations that contribute to happier, healthier lives by 2030.
- Becoming climate positive before 2050.
- Becoming a leading employer for inclusion before 2025.
- Sourcing all materials and services in a way that protects the environment and people by 2030.
”We are pleased with our very good start to 2024, driven by strong momentum in our established business and a high level of new wins. The strong growth has been achieved across all markets and segments and once again highlights the unique position of Givaudan in supporting the growth of our customers around the world with innovative high value-added products and solutions.” Gilles Andrier, CEO, Givaudan.
