Despite the COVID-19 pandemic, Givaudan maintained its operations and global supply chain with minimal disruption.
Related: Givaudan Names New Fragrance & Beauty Leaders
Givaudan's full year sales were CHF 6,322 million, an increase of 4.0% on a like-for-like basis and 1.9% in Swiss francs when compared to 2019.
Fragrance & beauty sales were CHF 2,924 million, an increase of 5.4% on a like-for-like basis and 4.5% in Swiss francs.
Taste & wellbeing sales were CHF 3,398 million, an increase of 2.8% on a like-for-like basis and a decrease of 0.2% in Swiss francs.
One of the key drivers for an uptick in sales was the strong performance in the household, health and personal care segments within fragrance & beauty, as well as in packaged foods, savory, snacks and nutraceuticals in taste & wellbeing.
Part of Givaudan’s 2025 strategy aims to achieve organic sales growth of 4-5% on a like-for-like basis and free cash flow of at least 12%, both measured as an average over the five-year period strategy cycle.
“I am very pleased that in an unprecedented environment related to COVID-19, we have been able to deliver such a strong financial performance in 2020, as well as successfully delivering on all of our ambitious targets in relation to our 2016-2020 strategy,” said CEO Gilles Andrier. “These excellent results once again demonstrate the strength of our business and our ability to deliver industry leading financial results, whilst successfully executing upon our longer term strategic ambitions.”