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Firmenich Fiscal 2012 Sales Up 1.1%, But Hurt By Foreign Currency Translation
Posted: October 22, 2012
Firmenich's fiscal 2012 sales rose 1.1% in local currencies to CHF 2.64 billion, although sales fell 5.2% in Swiss Francs.
For the fiscal ended June 30, 2012, the company said the headwinds of a difficult economic environment increased, as GDP growth remained stagnant and raw material price volatility persisted. These factors weighed negatively on the company's business performance, which was further impacted by the strengthening of the Swiss Franc.
Still, the company posted increases in all geographic regions except Western Europe.
By segment, the flavors division posted a modest increase in sales, fueled by strong momentum in savory foods and sweet goods and driven by high double-digit growth in several strategic growth markets. In savory foods, sales in the proteins and soups and sauces categories accelerated, propelled by strong sales in emerging markets.
Sweet goods had solid growth driven by the dairy, bakery, confectionery and dietary and nutrition segments in both developed and growth markets.
Separately, the company also published its sustainability report, which indicated that it reduced total energy use by 2.6% and 13.3%, respectively for fiscal 2012 and the five-year period from fiscal 2007 through fiscal 2012.
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