Givaudan reports growth momentum

Published: 8-Oct-2008

Swiss fragrance and flavours producer Givaudan has announced its results for the first nine months of 2008 reporting sales of CHF3,149m, an increase of 9.8% in local currencies and 1.4% in Swiss francs.


Swiss fragrance and flavours producer Givaudan has announced its results for the first nine months of 2008 reporting sales of CHF3,149m, an increase of 9.8% in local currencies and 1.4% in Swiss francs.

On a pro forma basis, as if Quest (the UK-based competitor Givaudan acquired) had already been consolidated since 1 January 2007 and excluding the impact of portfolio streamlining, sales grew 3.4% in local currencies. According to the company, it is well positioned to grow above market as of 2009 and to reach pre-acquisition margin levels by 2010.

Givaudan’s fragrance division recorded nine month sales of CHF 1,463m, with fine fragrance sales and speciality ingredients showing particularly healthy growth. Despite the difficult economic environment in North America, sales growth in the region was well above market, driven by new launches at several of the company's key accounts, according to Givaudan.

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