Givaudan’s third-quarter net income rose 19.5%, led by both increases in its flavor and fragrance division sales. Midterm, the company plans to grow organically 4.5-5.5% per year, assuming a market growth of 2-3%.
Sales for the quarter rose to CHF 4.369 billion, up 5.5% on a like-for-like basis and 2.6% in Swiss francs compared to a year earlier. Fragrance division sales were 2.083 billion, an increase of 5.1% on a like-for-like basis and 3% in Swiss francs.
Total sales for fragrance compounds (fine fragrances and consumer products combined) rose 6% on a like-for-like basis. Consumer product sales rose 7.1% during the quarter. Sales of fragrance ingredients fell 1.1% on a like-for-like basis, although showed moderate growth in the second half of the year. Fine fragrance sales grew 1.8% on a like-for-like basis. Flavor division sales were 2.29 billion, up 5.8% on a like-for-like basis and 2.3% in Swiss francs. The company said all major business segments grew favorably with beverages, dairy and snacks leading the way.