2020 Full year results
Excellent financial performance – 2020 guidance delivered
Givaudan Group full year sales were CHF 6,322 million, an increase of 4.0% on a like-for-like basis and 1.9% in Swiss francs when compared to 2019.
- Like-for-like (LFL) is defined as: (a) sales calculated using the invoicing exchange rates of the prior year, and (b) excluding sales of businesses acquired from the acquisition date until the period end date, up to 12 months from the acquisition date.
Committed to Growth, with Purpose
In 2021, Givaudan enters a new five-year strategic planning cycle that aims to deliver sustainable value creation for all stakeholders.
We are taking our first steps on this journey against a continuing backdrop of uncertainty related to the COVID-19 pandemic. However, our business has consistently shown its resilience and we remain confident in Givaudan’s capabilities. Our business is a systemically important part of the overall food and consumer products value chain, and we will remain focused on protecting our people, serving our customers and making a positive impact in the communities that work with us.
With visibility being short in the current circumstances, we are strongly focused on maintaining our supply chain at high levels and minimising any disruptions so we can continue to supply our customers around the world. At the same time, we will continue our disciplined approach to cost management throughout the business to reflect the current operating environment.
With our acquisitions throughout the 2020 strategic cycle, we are continuing our efforts to bring all of those activities onto the Givaudan systems and operating platforms during the first part of the 2025 strategic planning period.
Overall, we will move forward with close alignment to our purpose, creating for happier healthier lives with love for nature and a strong focus on our ambitious targets for 2025, aiming for average organic growth of 4‑5% and average free cash flow of at least 12%. In addition, we have non-financial targets around sustainability, diversity and safety, all linked to the Company’s purpose.