Givaudan, up in the first nine months. The Swiss company, specialized in the manufacture of aromas and perfumes, has ended the period (between January and September) with an increase in sales of 6.1%, up to 5,067 million Swiss francs (5,228.4 million euros). Givaudan has also maintained its objective of growing between 4% and 5% per year in the next five years.
“We are pleased with our solid growth despite the challenging environment,” said Gilles Andrier, CEO of the company, in the presentation of results. The company has also explained that due to the increase in costs in the supply chain, it will implement price increases in its products.
In the first nine months, the group’s business has been boosted by the good performance in Europeits largest market, where sales have increased by 12.6% in the period, to 2,003 million Swiss francs (2,066.8 million euros).
In Latin America, the Swiss company has also registered solid growth in the first nine months of the year, with an increase in its turnover of 10.9%, while in Asia Pacific sales have risen by 4.5%. North America has been the only region where the group has cut its income in the period, with a decrease of 2.9%.
Givaudan will raise prices due to the increase in costs of the value chain
By categories, sales of the perfumery and cosmetics division increased by 5.8% in the first nine months of the year, up to 2,489 million Swiss francs (2,568.3 million euros). The division has moderated its growth compared to the same period of the previous year, when it grew by 8.4%.
Within this division, the perfume business premium increased its comparable sales by 14.8% in the period, while the turnover of consumer products rose by 2.2% and sales of active beauty they grew by 10.2%.
For its part, the division taste&wellbeingwhich includes aromas for food, increased by 9.3% in the first nine months of the year, up to 2,969 million Swiss francs (3,063.5 million euros).
Givaudaun also explained that the increase in sales is due to the impact of the acquisitions of Custom Essence, specialized in the formulation of natural perfumes, and DDW, specialized in natural dyes, in December 2021. Both companies have contributed 140 million francs Swiss (144.4 million euros).