Latin America factor boosts Givaudan H1 sales 5.7%

5-Aug-2013

Group sales for the fist six months of 2013 totalled CHF2.2bn

Givaudan has announced sales of more than CHF2.2bn for the first six months of 2013, an increase of 5.7% on a like for like basis. In addition, the Swiss flavours and fragrances company saw EBITDA grow 16.4% to CHF509m, a result of strong gross profit and the group’s continued focus on internal costs.

Fragrance Division sales were just over CHF1.0bn, up 5.5%. Within this division, sales of Fragrance Ingredients slipped 2.9%, driven by the discontinuation of sales of some commodity products. However, this was offset by a strong performance from Givaudan’s Fragrance Compounds business, which saw sales increase by 6.7% to CHF926m. Both Fine Fragrances and Consumer Products fall under the group’s Fragrance Compounds umbrella, and Consumer Products fared particularly well, growing 7.9% fuelled by double-digit sales in Latin America. Fine Fragrance meanwhile grew 2.5%, again driven by new business in Latin America, in particular Argentina and Brazil.

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Finally, Givaudan’s Flavor Division sales increased by 5.8% to reach nearly CHF1.2bn.

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