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Givaudan (Geneva) has reported sales of CHF 3,318 million in the first nine months of 2013, an increase of 5.0% (all percentages based on a "like-for-like" basis, which excludes the impact of currency, acquisitions and disposals).
The period was marked by new wins, growth in all markets and "negligible" pricing effects. The company now hopes to grow as much as 5.5% a year, assuming the overall industry grows by as much as 3% a year.
"Flavour Division Flavour Division sales were CHF 1,739 million during the first nine months of 2013, an increase of 5.4% on a like-for-like basis and 2.4% in Swiss Francs. Sales growth in the first nine months was driven by increases in the developing markets, particularly across all Asia Pacific markets. The mature markets of Western Europe and North America contributed as well. All segments expanded globally with strong performances in Beverage, Dairy, Savoury, Snacks and Sweet Goods. Health and Wellness continued to evolve globally with significant double-digit gains in the salt, sweetness and bitterness masking capabilities of the TasteSolutions portfolio. Asia Pacific Sales in Asia Pacific rose 7.0% on a like-for-like basis, driven by solid new wins and growth of existing business. The developing markets of China, Indonesia and India delivered strong growth with increases in Beverage, Sweet Goods, Savoury and Snacks. The mature market of Japan was marginally above prior year with good growth in Beverage and Savoury offset by lower non-food segment sales. For the region, all business segments contributed to the incremental gains with Beverage, Dairy, Savoury and Snacks each delivering strong growth. Europe, Africa and Middle East Sales grew 4.9% on a like-for-like basis driven by growth in the developing markets of Africa and Russia. The mature markets of Western Europe strongly contributed to the increased sales led by the markets of Great Britain, Italy and Spain. Overall performance was driven by volume gains and growth of existing business in the developing markets. All segments provided good year over year growth with Beverage, Savoury, Snacks and Sweet Goods delivering the growth. Latin America Sales increased across the region by 7.9% on a like-for-like basis with strong growth coming from Argentina, Brazil and Mexico. New wins and growth of existing business contributed to the expansion. Growth was across all segments with Beverage, Dairy and Snacks leading the way. North America Sales across the region grew 3.3% on a like-for-like basis. New wins contributed to the sales expansion with Beverage, Dairy, Snacks and Sweet Goods helping the overall increase."
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