Latin America factor boosts Givaudan H1 sales 5.7%
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.
Finally, Givaudan’s Flavor Division sales increased by 5.8% to reach nearly CHF1.2bn.
