Givaudaun reports excellent growth
In the first nine months of 2019 Givaudan recorded sales of CHF 4,664 million, an increase of 6.4% on a like-for-like basis and 14.5% in Swiss francs. Fragrance Division sales were CHF 2,088 million, an increase of 8.5% on a like-for-like¹ basis and an increase of 11.2% in Swiss francs. Flavour Division sales were CHF 2,576 million, an increase of 4.6% on a like-for-like¹ basis and an increase of 17.4% in Swiss francs.
All product segments perform excellent
The company continued the year with good business momentum and with the project pipeline and win rates sustained at a high level. This excellent growth was achieved across all product segments and geographies, with our key strategic focus areas of Naturals, Health and well-being, Active Beauty, Integrated solutions and local and regional customers delivering strong growth, complemented by the recent acquisitions.
Create further value
The Company continues to implement price increases in collaboration with its customers to fully compensate for the increases in input costs. The Company’s 2020 ambition is to create further value through profitable, responsible growth. Building on the first three years of this strategic cycle, Givaudan’s 2020 ambition is defined around the three strategic pillars of ‘Growing with our customers’, ‘Delivering with excellence’ and ‘Partnering for shared success’.
As part of the Company’s 2020 strategy, Givaudan also seeks to create value through targeted acquisitions, which complement existing capabilities in providing winning solutions for its customers. Since 2014, Givaudan has completed thirteen acquisitions, which are fully in line with the growth pillars within the Company’s 2020 strategy. Ambitious financial targets are a fundamental part of Givaudan’s strategy. We aim to outpace the market with 4-5% sales growth and a free cash flow² of 12-17% of sales, both measured as an average over the five-year period of our strategy cycle. It is Givaudan’s intention to maintain its current dividend practice as part of this ambition.