Strong consumer product sales counter poor fine fragrance performance for Givaudan in 2009

Published: 22-Feb-2010

Swiss flavour and fragrance specialist Givaudan has announced total sales in 2009 of CHF3,959m, an increase of 1.4% in local currencies and a decrease of 3.1% in Swiss francs compared to the previous year.


Swiss flavour and fragrance specialist Givaudan has announced total sales in 2009 of CHF3,959m, an increase of 1.4% in local currencies and a decrease of 3.1% in Swiss francs compared to the previous year. The company’s fragrance division saw a sales increase of 0.9% in local currencies to CHF1,824m. This was largely driven by growth in its consumer products sub-division, with sales up 3.6% in local currencies. In contrast, Givaudan’s fine fragrance business suffered a 7.6% sales decline, a result of weak consumer demand and destocking mature market regions.

Geographically, very strong sales in Latin America (+14.1%) and the Asia Pacific area (+8.2%) helped mitigate the effects of a 3.3% dip in Givaudan’s North America market.

“Givaudan’s overall performance in 2009, against a backdrop of a difficult business environment is a very satisfactory achievement. It is also a strong sign of our unique capability to understand and deliver innovation to support our customers, demonstrating at the same time a deep knowledge of the markets we serve,” said Gilles Andrier, ceo of Givaudan of the results. The company is also confident that it will further outgrow the underlying market in 2010.

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