Givaudan released its business performance on October 8, 2020, for its 2020 nine month sales and, overall, recorded continued good sales growth.
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Givaudan recorded sales of CHF 4,790 million, an increase of 3.7% on a like-for-like (LFL) basis and 2.7% in Swiss francs.
Fragrance & beauty sales were CHF 2,199 million, an increase of 4.5% on a LFL basis and an increase of 5.3% in Swiss francs. Its sales growth was driven by the particularly strong volume growth of the consumer products business unit and the improving performance of fine fragrances in the third quarter.
Total sales of fragrance compounds (fine fragrances and consumer products combined) increased by 5.1% on a LFL basis. In Swiss francs, sales of compounds increased by 5.5% to CHF 1,894 million from CHF 1,796 million in 2019.
Fine fragrance sales decreased by 11.3% on a LFL basis against strong comparable of 8.0% growth in 2019, with the results continuing to be impacted by the COVID-19 pandemic.
Consumer products sales increased by 9.9% on a LFL basis against a strong comparable growth of 8.6% in 2019, thanks to continuing strong demand for household, health and personal care products related to COVID-19. This excellent growth was achieved in both high growth and mature markets and across all regions and customer groups
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Taste & well-being sales were CHF 2,591 million, an increase of 3.1% on a LFL basis and an increase of 0.6% in Swiss francs. A driving factor of this is attributed to new wins and existing products with good business momentum.
From a segment perspective beverages, dairy, savory and snacks all contributed to the positive sales performance driven by increased demand for traditional centre of the store foods.
On a worldwide level, sales increased 2% on a LFL basis in Europe, Afirca and the Middle East although decreased by 0.2% in Asia Pacific. Latin America took the lead with 10% LFL basis increase and North America right behind at 4.6% LFL basis increase.
CEO Gilles Andrier said, "I am very pleased with our good sales performance during a period where the COVID-19 pandemic continues to have a significant impact on the world. Givaudan continues to demonstrate our market leadership and the important role that we play in sustaining the global supply chain in food and beverage as well as in household, health and personal care products. I am especially proud of the entire Givaudan organization for their ongoing dedication and for enabling us to continue to support our customers to keep critical products available to consumers throughout the COVID-19 crisis."