Givaudan started 2021 with strong business momentum, while maintaining its operations and global supply chain at a high level, reflected in the release of its Q1 sales report.
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In the first three months of 2021, Givaudan recorded sales of CHF 1,674 million, an increase of 7.7% on a like-for-like1 basis and 3.4% in Swiss francs.
Fragrance & Beauty sales were CHF 788 million, an increase of 9.9% on a like-for-like* basis and an increase of 5.8% in Swiss francs.
Taste & Wellbeing sales were CHF 886 million, an increase of 5.8% on a like-for -like basis and an increase of 1.3% in Swiss francs.
Givaudan’s continued growth was achieved across most product segments and geographies, with particularly strong performance in the high growth markets, which recorded sales growth of 14.5% on a like-for-like basis. In Givaudan Fragrance & Beauty, the household, health, personal care and Active Beauty segments delivered a strong performance, while in Givaudan Taste & Wellbeing, growth was driven by the packaged foods, savory, snacks, beverages and nutraceuticals segments.
Consumer Products sales increased by 11.4% on a like-for-like basis, growing across all customer groups and geographies, driven by strong underlying win rate performance and continuing strong demand for household and personal care products related to COVID-19 pandemic.
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In Fragrance & Beauty, the product segments which had been most affected by the COVID-19 pandemic in 2020, namely Fine Fragrances and, to a lesser extent, Active Beauty, showed a continuing improvement in the first quarter of 2021 as retail activity picked up and as customers and consumers maximized the availability of other channels, including direct selling and e-commerce. In Taste & Wellbeing, the foodservice segment continued to be affected by the pandemic, but to a lesser extent compared to 2020, as restrictions in relation to out-of-home food and beverage consumption started to be lifted in certain markets.
“I am very pleased with the strong start that we have made to 2021, in what continues to be a very uncertain environment related to the COVID-19 pandemic. We have seen continued strong demand across the parts of our business which are less impacted by the COVID-19 pandemic and improving conditions in the parts of our portfolio which have been more affected,” said CEO Gilles Andrier. “Across the Givaudan organization, I am proud of the way we have been able to adapt to the rapidly changing conditions, supporting our employees and our customers and seizing opportunities to extend our market leadership.”
*Like-for-like (LFL) is defined as: (a) sales calculated using the invoicing exchange rates of the prior year, and (b) excluding sales of businesses acquired from the acquisition date until the period end date, up to 12 months from the acquisition date.
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