Givaudan has released the company's sales report for the first nine months of 2023, which is a reported CHF 5,265 million, an increase of 2.9% on a like-for-like1 (LFL) basis and a decrease of 3.5% in Swiss francs. Below are sales report highlights from key company segments.
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Fragrance & Beauty sales were CHF 2,511 million, an increase of 6.4% LFL and an increase of 0.9% in Swiss francs, against a comparable growth of 5.8% in 2022.
On a business unit basis, Fine Fragrance sales increased by 13.7% LFL against a high prior year comparable growth of 14.8%, Consumer Products sales increased by 5.2% LFL and sales of Fragrance Ingredients and Active Beauty increased by 1.9% LFL.
The growth is said to be driven by the continued strong performance of Fine Fragrances with sustained high levels of new business, as well as the impact of pricing actions implemented in all businesses.
Taste & Wellbeing sales were CHF 2,754 million, flat LFL1 and a decrease of 7.3% in Swiss francs, against a comparable growth of 6.4% in 2022.
On a regional basis, sales in Asia Pacific decreased by 2.3% LFL; sales in Europe increased by 2.9% LFL; sales in South Asia, Africa and the Middle East increased by 16.3% LFL; sales in North America decreased by 10.6% LFL and in Latin America, sales increased by 13.1% LFL.
From a segment perspective, there was double-digit growth in snacks and good growth in sweet goods, offset by weaker volumes in the other segments of health care, savory and dairy.
“We are pleased with our sustained sales growth, with a particularly strong performance in Fine Fragrances, high-growth markets and Europe. We continue to have a strong focus on innovation to support the unique differentiation that we bring to support the growth of our customers, whilst at the same time delivering on our performance improvement plan objectives. I am very proud of the ongoing commitment of the entire Givaudan organization in what remains to be challenging times.” Gilles Andrier, CEO.
