2024-04-11 06:31:11
This content was published on April 11, 2024 – 08:31
(Keystone-ATS) Flavors and fragrances giant Givaudan recorded increased sales during the first quarter of 2024. Management highlights growth in all its sectors and regions driven by an increase in demand, and confirms its medium-term objectives. term.
From January to March, turnover increased by 2.8% to 1.8 billion francs compared to the same period a year earlier, indicates a press release. Organic growth, excluding currency effects, was 12.6%.
By division, sales of Perfumes and beauty increased by 16.3% to 900 million. On the aromas and well-being side, revenues increased by 9.3% to 922 million.
By region, the strongest growth came from Latin America with 5.8% more, Europe advanced by 4.9% and North America by 1.2%. Only Asia-Pacific fell by 0.7%.
These figures are in line with the expectations of the AWP consensus, whose analysts expected a turnover of around 1.8 billion and organic growth of 7.1%.
In the medium term, management is targeting organic sales growth of 4 to 5% on a like-for-like basis and free cash flow of at least 12%.
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