Fragrance Compounds business drives Givaudan growth in 2013

Swiss flavours and fragrances group Givaudan has revealed full year sales of nearly CHF4.4bn for 2013, an increase of 5.5% on a like-for-like basis and 2.6% in Swiss francs when compared to 2012. Fragrance Division sales were CHF2.08bn, an increase of 5.1% on a like-for-like basis and 3.0% in Swiss francs, while Flavour Division sales were CHF2.23 million, an increase of 5.8% on a like-for-like basis and 2.3% in Swiss francs.

EBITDA increased by 9.1% to CHF970m in 2013 thanks to strong gross profit and a continued focus on internal costs, according to Givaudan.

Within the Fragrance Division, total sales for Fragrance Compounds (Fine Fragrances and Consumer Products combined) increased by 6.0% on a like-for-like basis. In Swiss francs, sales of compounds increased to CHF1.85bn from CHF1.78bn. Fine Fragrance sales grew 1.8% on a like-for-like basis. The growth was mainly driven by strong growth in Latin America and a moderate growth in North America. Meanwhile, Consumer Product sales increased by 7.1% on a like-for-like basis, driven by a strong performance in developing markets and a moderate growth in the mature markets and across all customer groups.

Sales of Fragrance Ingredients declined by 1.1% on a like-for-like basis, but showed a moderate growth in the second half of the year.