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Swiss flavour and fragrance company Givaudan, the global leader in the industry, is confirming its targets and analysts’ forecasts, posting an increase in net profitability in the first half of the year.
Givaudan‘s sales reached 3.65 billion Swiss francs, or 3.67 billion euros, up 8.3% year-on-year. Analysts had estimated sales of CHF 3.221 billion. In addition, other results confirm the group’s medium-term objectives (2025).
The group’s organic sales growth was 6.2% in the first half of the year, driven by strong demand for flavors and improved sales of perfumes, particularly in airports, thanks to strong tourism dynamics. With the organic growth target set between 4% and 5% per year, the results were in the green in S1 2022.
Specifically, the Fragrance Division achieved sales growth of 4.7% to CHF 1.64 billion, while the Flavor business generated sales of CHF 2 billion, up 7.6%.
Although in line with analysts’ expectations, these results are complemented by other values, albeit at a lower level. The Geneva-based giant achieved a net profit of 440 million Swiss francs, compared with 481 million twelve months earlier. In addition, gross operating profit (Ebitda) rose by only 0.8% to 816 million Swiss francs.
Finally, operating cash flow fell sharply. While it amounted to CHF 131 million in the first half of 2022, it was CHF 415 million in the same period in 2021.
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Swiss flavour and fragrance company Givaudan, the global leader in the industry, is confirming its targets and analysts’ forecasts, posting an increase in net profitability in the first half of the year.
Indeed, watch exports have increased to most markets in the first six months of the year, with the exception of Asia due to health restrictions. Numerous anti-Covid measures such as confinements in April and May prevented the Chinese market in particular from performing as usual, disrupting supply chains at the same time.
However, this did not prevent the latter from achieving good results, ending the half-year on a high note. Swiss watch exports rose by 11.9% year-on-year in the first half of the year to 11.9 billion Swiss francs (11.9 billion euros).
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Swiss flavour and fragrance company Givaudan, the global leader in the industry, is confirming its targets and analysts’ forecasts, posting an increase in net profitability in the first half of the year.
Indeed, watch exports have increased to most markets in the first six months of the year, with the exception of Asia due to health restrictions. Numerous anti-Covid measures such as confinements in April and May prevented the Chinese market in particular from performing as usual, disrupting supply chains at the same time.
However, this did not prevent the latter from achieving good results, ending the half-year on a high note. Swiss watch exports rose by 11.9% year-on-year in the first half of the year to 11.9 billion Swiss francs (11.9 billion euros).
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