Business performance

In the first nine months of 2019 Givaudan recorded sales of CHF 4,664 million, an increase of 6.4% on a like-for-like1 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.

Givaudan 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.

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.

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About Givaudan
Givaudan is the global leader in the creation of flavours and fragrances. In close collaboration with food, beverage, consumer product and fragrance partners, Givaudan develops tastes and scents that delight consumers the world over. With a passion to understand consumers’ preferences and a relentless drive to innovate, Givaudan is at the forefront of creating flavours and fragrances that ‘engage your senses’. The Company achieved sales of CHF 5.5 billion in 2018. Headquartered in Switzerland with local presence in over 145 locations, the Company has almost 13,600 employees worldwide. Givaudan invites you to discover more at  www.givaudan.com.

About Givaudan Active Beauty
Givaudan Active Beauty offers an extensive portfolio of innovative active cosmetic ingredients designed to bring beauty to the world. Inspired by the beauty needs of consumers worldwide, Active Beauty offers award-winning products for an expanded range of benefits including anti-ageing, self-tanning, soothing, hydrating, cooling, and more. Our cutting-edge technologies draw on science and nature to create high-performing molecules and functional agents, including customized carrier systems. Part of the Fragrance Division, Active Beauty leads the market in crafting innovative products supported by our strong expertise in advanced and applied sciences. We invite you to ‘engage your senses’ and learn more about Active Beauty at www.givaudan.com/activebeauty.