Givaudan has released the first nine months of 2024 recorded sales of CHF 5,644 million, an increase of 13.0% on a like-for-like(LFL) basis and an increase of 7.2% in Swiss francs.
- The strong growth was achieved across all product segments, geographies and customer groups, with high-growth markets growing at 20.9% on a LFL basis and mature markets growing at 6.6% LFL.
- Fragrance & Beauty sales were CHF 2,782 million, an increase of 15.6% LFL1 and an increase of 10.8% in Swiss francs.
- On a business unit basis, Fine Fragrance sales increased by 17.8% LFL against a high prior year comparable growth of 13.7%, Consumer Products sales increased by 15.9% LFL and sales of Fragrance Ingredients and Active Beauty increased by 10.8% LFL.
- Taste & Wellbeing sales were CHF 2,862 million, an increase of 10.7% LFL1 and an increase of 3.9% in Swiss francs.
- On a regional basis, sales growth improved in all regions with sales in Asia Pacific increasing by 10.1% LFL and by 6.3% LFL in Europe.
- In South Asia, Africa and the Middle East sales increased by 17.9% LFL, in North America sales increased by 5.1% LFL and by 28.9% LFL in Latin America.
- From a segment perspective, all of the segments of snacks, beverages, dairy, sweet goods and savoury contributed to the strong growth.
2025 Strategy
Givaudan shared, "Our 2025 strategy, ‘Committed to Growth, with Purpose’, is our intention to deliver growth in partnership with our customers, through creating inspiring products for happier, healthier lives and having a positive impact on nature, people and communities."
The company 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. Long-term purpose goals are defined in four domains: creations, nature, people and communities.
Givaudan also aims to doubling its business through "creations that contribute to happier, healthier lives by 2030, becoming climate-positive before 2050, becoming a leading employer for inclusion before 2025 and sourcing all materials and services in a way that protects the environment and people by 2030."
Gilles Andrier, CEO shared, "We are very pleased with our continued strong performance, driven by a high level of volume-related sales growth across all markets, segments and customer groups. The excellent performance and commitment of all parts of the Givaudan organization around the world have ensured that we are able to continue to support the strong and broad-based volume demand from our customers."