Givaudan recorded sales of CHF3.31bn, an increase of 4.5% on a like-for-like basis compared to the previous year period
In the first nine months of 2014, fragrance and flavour manufacturer Givaudan recorded sales of CHF3.31bn, an increase of 4.5% on a like-for-like basis and a decline of 0.2% in Swiss francs compared to the previous year period.
Total group sales for the fragrance division between January and September 2014 were CHF1.59bn, up 4.8% like-for-like compared to the prior year period, and helped by sales from Soliance, which have contributed CHF8m since the acquisition by Givaudan in June 2014.
Total sales of the Fragrance compounds division (Fine Fragrances and Consumer Products combined) increased by 4.2% on a like-for-like basis.
Fine Fragrance sales grew 3.4% on a like-for-like basis, driven by strong growth in developing markets, where the firm experienced both new business and volume gains in established business, favourably impacting on performance. These gains make up for lower sales in Europe and North America, said the company, where new business was not sufficient to offset loss.
The Consumer Products business grew by 4.5% on a like-for-like basis against strong prior year comparable figures, with performance achieved across all customer groups. Sales in developing countries were the main driver of the growth, while sales performance in mature markets continued to improve. In Latin America, the firm saw double-digit sales growth driven by international customers spread across the fabric care and the personal care segments. Sales in Asia showed a solid increase with all customer types, evident in the double-digit increase on the personal wash, deodorant and conditioning categories.
In Europe, Africa and the Middle East, all customer types, spread across all product segments, supported sales growth, reported the firm, though sales in North America continued to sit below last year’s results.
Finally, the sales of the Fragrance Ingredients division increased by 8.9% on a like-for-like basis.
Mid-term, the firm said that its overall objective is ‘to grow organically between 4.5% and 5.5% per annum, assuming a market growth of 2-3%, and to continue on the path of market share gains’.