In the first nine months of 2022, Givaudan recorded sales of CHF 5,458 million, an increase of 6.1% on a like-for-like basis and 7.7% in Swiss francs.
With higher input costs in 2022, Givaudan reports that it is fully on track in implementing price increases in collaboration with its customers to fully compensate for the increases in input costs.
Fragrance & Beauty
Fragrance & Beauty sales were CHF 2,489 million, an increase of 5.8% on a like-for-like basis and an increase of 5.9% in Swiss francs, against a strong comparable growth of 8.4% in 2021. On a business unit basis, Fine Fragrance sales increased by 14.8% on a like-for-like basis and consumer products sales increased by 2.2% on a like-for-like basis. Sales of Fragrance Ingredients and Active Beauty increased by 10.2% on a like-for-like basis.
In Fragrance & Beauty, the good growth was driven by the sustained strong performance of fine fragrances and fragrance ingredients combined with the sustained return to good growth momentum in the Consumer Products business. In Active Beauty the single-digit growth was achieved against a high double-digit comparable growth in 2021. Across all businesses and customer groups, the performance was said to have beensupported by the increased impact in the third quarter of the pricing actions implemented with customers to compensate for the increases in input costs.
Taste & Wellbeing
Taste & Wellbeing sales were CHF 2,969 million, an increase of 6.4% on a like-for-like basis and an increase of 9.3% in Swiss francs, against a strong prior year comparable growth of 7.2%. On a regional basis, sales in Asia Pacific increased by 4.2% on a like-for-like basis, despite being impacted by the ongoing COVID-19 measures in China; sales in Europe increased by 12.5% on a like-forlike basis; sales in South Asia, Africa and the Middle East increased by 16.6% on a like-for-like basis; sales in North America decreased by 2.8% on a like-for-like basis and in Latin America, sales increased by 17.1% on a like-for-like basis. From a segment perspective Beverages, Dairy, Snacks, Savoury and Sweet Goods were said to have all contributed to the good sales growth.
- Givaudan is aiming 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.
- Delivering key non-financial targets around sustainability, diversity and safety.
- Doubling the company's 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, Givaudan stated, "We are very pleased with our sustained solid growth across all of our businesses in what remains to be a challenging environment. We have demonstrated our strong focus on execution, in supporting the growth of our customers, whilst also leveraging our innovation capabilities to introduce new solutions which further strengthen our market leadership position in our chosen markets.”