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Givaudan Q3, Nine-month 2010 Sales
Posted: October 8, 2010
page 2 of 2
Fragrance ingredient sales grew by 12.6% in local currencies, boosted by a high level of demand, particularly for specialties. Sales growth includes some restocking.
Flavor division sales for the first nine months and third quarter of 2010 totaled CHF 1,744 million (up 6.5%) and CHF 562 million (up 3.8%), respectively. Results were driven by all four regions and all major segments, particularly beverage, snacks and sweet goods. Developing markets accounted for nearly 40% of sales, while mature markets were driven by volume gains in existing products and new wins. Sales for Asia-Pacific increased by 9.3% in local currencies; China, Indonesia and India recorded strong growth in the beverage, snack and sweet goods segments. All segments contributed to gains in mature markets, particularly in Japan. Givaudan has also reported sales gains in Europe of 4.8% in local currency. New wins in Africa and Middle East and improved economic environment in Eastern Europe also contributed to positive results. Negatively impacting mature markets were Ireland, Great Britain and Northern Europe. North American results (up 8.1% in local currencies) were boosted by new wins in beverage, dairy and sweet goods. The double-digit growth for the quarter was the result of the strong growth of existing products and new wins. Latin American sales have grown 16.9% for the first nine months of the year. All markets are above last year, led by Brazil and Argentina. Growth has occurred across all segments, particularly in beverage, dairy and sweet goods.