Firmenich has announced its full-year results for the 52 weeks ended June 30, 2021.
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Financial highlights from Firmenich's recent fiscal year:
• Revenue reached CHF 4,272 million, up 4.7% year-over-year on an organic basis at constant currency. Including acquisitions, revenue increased 16.8% year-over-year at constant currency.
• EBITDA of CHF 874 million, up +6.2% year-over-year.
• Adjusted EBITDA of CHF 816 million, down -5.0% year-over-year.
• Free Cash Flow of CHF 511 million, up +12.5% year-over-year.
• EBITDA to Free Cash Flow conversion ratio of 59%.
• Achieved double-digit revenue growth in key markets of North America, China and India, on an organic basis at constant currency.
• Perfumery & Ingredients Revenue increased +4.4%, on an organic basis at constant currency.
• Taste & Beyond Revenue increased +5.2%, on an organic basis at constant currency.
• Fine Fragrance grew by +39% on an organic basis at constant currency.
• Accelerated development of innovative new products including the launch of the world’s first flavor and first consumer fragrance designed with the help of artificial intelligence.
• Strengthened responsible business leadership position with CDP AAA rating for the 3rd year running, and a Sustainalytics ESG rating of 8.6.
• Announced ambitious ESG targets to reach carbon neutrality by 2025, and carbon positive impact beyond that date.
Patrick Firmenich, chairman of the board, said, “Firmenich achieved solid performance in a challenging year, demonstrating the strength of our business. I am proud and thankful for the dedication and commitment of our people that delivered these results. Throughout the year, we have continued to invest to position ourselves for the future, and I believe we are well placed to capture the opportunities that will arise after the crisis.”
Gilbert Ghostine, CEO of Firmenich, said, “I am proud of our achievements this year. We maintained a sharp focus on the health and safety of our employees. I am grateful for the dedication and energy that our people have demonstrated in this challenging time. We delivered strong revenue growth and cash generation across the business, with double-digit growth in the key geographies of North America, China and India. We continued to make progress on the integration of our acquisitions and accelerated our innovation to help our customers win bigger in the post-pandemic world.”
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