International Flavors & Fragrances (IFF) has reported its financial results for the fourth quarter and the full year ended December 31, 2024.
According to the results, the full year net sales were $11.48 billion, approximately same as the prior year. Currency neutral sales increased 6%, led by double-digit performance in the company’s scent division and high-single-digit growth in the health and biosciences division. The fourth quarter saw reported net sales of $2.77 billion, an increase of 3% over the previous period.
“IFF delivered a solid performance in 2024, reflecting the hard work and dedication of our global team,” said chief executive officer Erik Fyrwald. “Their commitment to serving our customers with industry-leading innovation drove strong top and bottom-line financial results. I’m pleased with the significant progress we’ve made over the past year, yet believe that we still have more work to do to realize IFF’s full potential. In 2025, we’ll strategically increase our investment in R&D, commercial, capacity and technology as we aim to continue to strengthen IFF. Recognizing ongoing macroeconomic uncertainties, we remain confident in our strategy and our ability to navigate challenges as we continue to create long-term value for all shareholders.”
Looking ahead to 2025, full year sales are expected to be in the range of $10.6 billion and $10.9 billion, and the company expects to see currency neutral sales growth between 1% and 4%.
