Givaudan Group reported 2017 sales of 5,051 million CHF, the company announced. Overall sales increased by 4.9% on a like-for-like basis, and 8.3% in Swiss francs, compared to 2016.
Fragrance sales increased by 4.5%, flavor sales increased by 5.3% and consumer products increased by 4.1%. Fragrance ingredients and active beauty sales increased 2.8%, led by double-digit sales in active beauty and active ingredients and encapsulation systems. (Fragrance ingredients were flat over 2016.)
Sales of fine fragrances grew by 7.2%; the Middle East drove high-growth market sales, assisted by gains in Latin America.
The flavor division saw a 5.3% increase in sales, 11.3% in Swiss Francs. Dairy, snacks and beverages drove growth. The naturals segment saw a double-digit increase in sales, while health and wellness saw growth in the high single digits.
The company reported a slight decline in gross margin—44.5%, versus 45.6% in 2016—which it attributed to “dilution arising from the pricing actions to fully compensate for increased input costs.” Globally, the company saw sales increase in all regions.