Givaudan release strong mid-year performance results

23-Jul-2019 - Last updated on 23-Jul-2019 at 14:32 GMT

In its mid-year 2019 financial results, the Swiss manufacturer reveals the impact its acquisitions have had on its business performance and ability to deliver its 2020 guidance goals.

Financial figures

On the 18th July, the flavour, fragrance and active cosmetics ingredients provider announced it had reached CHF 3,094 million in sales during the first six months of 2019. The figure represents a 6.3% increase for Givaudan Group.

The total sales consist of CHF 1,361 million sales in the Fragrance Division and CHF 1,733 million sales from the Flavour Division. These segment sales make up an increase of 8.6% and 4.4%, respectively. Overall, Givaudan has received a net income of CHF 380 million, which sees a rise of 2.3% year-on-year.

“Our strong performance for the first half of 2019 confirms the resilience of our business and our ability to consistently deliver industry leading financial performance,” revealed Gilles Andrier, CEO, Givaudan.

Pipeline, Strategy and Acquisitions

In addition to the company’s overall performance, Givaudan has also reported that its pipeline and secured project rate has also remained at a high level. Key strategic areas including naturals, health and wellbeing, active beauty and integrated solutions have contributed to its position at the midway point of 2019.

Givaudan’s recent acquisitions, all taking place in 2019, include Vietnamese flavour company Golden Frog, natural ingredient specialist Albert Vieille, and cosmetic name AMSilk. Along with building customer engagement with local and regional customers, the company relays how these acquisitions have contributed to its half-year results.

Following the completion of its Naturex acquisition in September 2018, the company reports that its integration of the botanicals and plant extract company is progressing well.

“This acquisition is another important step in delivering on our 2020 ambition, and we are excited to welcome Naturex employees to Givaudan,” Gilles Andrier, CEO of Givaudan, said at the time of the acquisition completion.

Serving Businesses

The company has focused on a number of business solutions. Givaudan has launched an artificial intelligence (AI) tool for perfumers and a collection of new sustainable fragrance precursors, along with its new anti-ageing active, Agefinity, and marine biotech active cosmetic ingredient, Sensityl.

“I am very pleased with our results and with the continued progress we have made in delivering against our strategic goals under the 2020 strategy,” adds Andrier.