Givaudan continues strong growth in the third quarter
Published: Thursday, Oct 10th 2024, 06:40
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The Geneva-based flavor and fragrance manufacturer Givaudan continued the strong growth of the first half of the year in the third quarter. The industry leader continued to benefit from significantly higher sales volumes.
Overall, sales rose by 7.2 percent to 5.64 billion Swiss francs in the first nine months, as the supplier of flavors and fragrances for food, perfumes, household and personal care products announced on Thursday. In organic terms, i.e. adjusted for acquisitions and disposals as well as currency effects, Givaudan even grew by 13.0 percent. Organic growth had already reached 12.5 percent in the first six months.
The Group benefited from a significant increase in sales volumes. However, negative currency effects, which cost 324 million Swiss francs in sales, continued to have a dampening effect. Givaudan does not present profit figures after nine months.
The medium-term target range for organic growth of 4% to 5% was therefore significantly exceeded. Analysts' expectations (AWP consensus: 10.4%) were also exceeded.
As usual, Givaudan is not giving a concrete outlook for the current year. However, the medium-term targets remain unchanged. Accordingly, Givaudan is aiming for organic sales growth of at least 4 to 5 percent per year. In addition, free cash flow should amount to at least 12 percent of sales.
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