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Financial results

2021 Half year results
Good business momentum - strong financial performance

Givaudan Group sales for the first six months of the year were CHF 3,737 million, an increase of 7.9% on a like-for-like basis and 4.7% in Swiss francs.

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GROUP
7.9%
SALES GROWTH
LFL¹
TASTE & WELLBEING
6.1%
SALES GROWTH
LFL¹
FRAGRANCE & BEAUTY
10.1%
SALES GROWTH
LFL¹

 

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.

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GROUP
4.0%
SALES GROWTH
LFL¹
TASTE & WELLBEING
2.8%
SALES GROWTH
LFL¹
FRAGRANCE & BEAUTY
5.4%
SALES GROWTH
LFL¹

 

  1. 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.

 

Outlook
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. In the first half of 2021, we sustained excellent financial performance with a strong contribution coming from our 2025 strategic growth areas, and we demonstrated a strong recovery in the areas of the business most affected by the pandemic. We have consistently shown our 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 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.

Mid- and long-term aspirations

In today’s ever-changing environment, there are increasing challenges from climate crisis, growing inequality and economic uncertainty. The current coronavirus pandemic is also surfacing new trends which require us to have an even greater focus on organisational resilience and flexibility to adapt to a changing environment.

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.

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