The Swiss maker of flavours and fragrances for everything from confectionary to designer perfumes reported turnover of CHF3.149bn (€2.04bn) for the January to September period.
This represents an increase of 2.1 per cent on last year when adjusting for currency translation distortions and excluding the impact of the recent acquisition of Quest on the top-line.
Givaudan said the business had again proven resilient with above market growth and declared itself well-positioned to continue to grow faster than its rivals from 2009.
Five year plan
Over the next five years the company expects to create CHF620m in incremental sales above and beyond the market growth.
To achieve this target, Givaudan plans to increase the share of its turnover stemming from developing countries and make a strategic move towards regional and smaller clients.
Flavour beats fragrance
Comparing the performance of the fragrance and flavour divisions, flavour won the sales growth battle.
Sales in the division rose 2.6 per cent in local currency terms to CHF1.686bn with particularly strong contributions coming from the savoury, snack and food service segments.
In the fragrance division sales edged up 1.5 per cent to CHF1.463bn. Consumer products delivered ‘good growth’ and the strongest sales performances under this umbrella came from fabric and personal care.
Meanwhile, fine fragrances showed ‘modest growth’. Despite the overall stagnation of the North American fine fragrances market, Givaudan performed better there than in Europe because of launches in several key accounts.
