Fragrance Compounds business drives Givaudan growth in 2013
The Swiss flavours and fragrances group revealed full year sales of nearly CHF4.4bn
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.