Givaudan has announced its first nine months of sales of 2021, recording sales of CHF 5,067 million, an increase of 7.7% on a like-for-like basis and 5.8% in Swiss francs.
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As the COVID-19 pandemic continued to have an impact on a global level, Givaudan sustained good business momentum whilst maintaining its operations and global supply chain at a high level. The growth was achieved across all product segments and geographies, with the mature markets growing at 6.6% and the high growth markets at 9.2% on a like-for-like basis.
Highlights of the report include:
Fragrance & Beauty sales were CHF 2,351 million, an increase of 8.4% on a like-for-like basis and an increase of 6.9% in Swiss francs.
Taste & Wellbeing sales were CHF 2,716 million, an increase of 7.2% on a like-for-like basis and an increase of 4.8% in Swiss francs.
Total sales of Fragrance Compounds (Fine Fragrances and Consumer Products combined) increased by 7.4% on a like-for-like basis. In Swiss francs, sales of compounds increased by 6.1% to CHF 2,009 million from CHF 1,894 million in 2020.
Fine Fragrance sales increased by 28.6% on a like-for-like basis driven by a significant rebound in prestige fragrances and specialty retail.
Consumer Products sales increased by 2.5% on a like-for-like basis against a strong comparable growth of 9.9% in 2020, which was driven by an increased demand for household and personal care products related to COVID-19 pandemic.
Sales in Asia Pacific increased by 6.8% on a like-for-like basis. In the high growth markets, China and Malaysia delivered double-digit growth followed by solid single-digit growth in Indonesia and Vietnam.
Sales in South Asia, Africa and the Middle East increased by 5.1% on a like-for-like basis.
Sales in Europe increased by 5.2% on a like-for-like basis.
Sales in North America increased by 5.0% on a like-for-like basis.
Sales in Latin America increased 24.6% on a like-for-like basis across all markets, led by strong double-digit growth in all countries and across all segments. The Group has aligned the reporting of the regional performance of Givaudan Taste & Wellbeing with changes in the management structure of the business, effective 1 January 2021. For information, the comparable growth for the first nine months of 2020 for South Asia, Africa and the Middle East was 2.4% and for Europe 1.3% respectively.
CEO Gilles Andrier, said, “I am very happy with our continued strong performance across all parts of our business and in particular the ongoing recovery in Fine Fragrances, Active Beauty and in foodservice. We have made excellent progress in our 2025 strategic growth initiatives and whilst the external environment still contains many uncertainties, we have demonstrated a strong focus on execution, in supporting our customers and in playing an important role in the global supply chain in food and beverage as well as in household, health and personal care products.”