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Performance review

Full year results

Financial performance 

  • Givaudan Group full year sales were CHF 5,051 million, an increase of 4.9% on a like-for-like basis and 8.3% in Swiss francs when compared to 2016.
  • Flavour Division sales were CHF 2,708 million, an increase of 5.3% on a like-for-like basis and 11.3% in Swiss francs. 
  • Fragrance Division sales were CHF 2,343 million, an increase of 4.5% on a like-for-like basis and 5.1% in Swiss francs.

Business performance - Group

For the year ended 31 December, in millions of Swiss francs

2017

2016

Percentage change

Sales and results

     

Group Sales

5,051

4,663

8.3%

Like-for-like sales growth

4.9%

4.2%

 

Gross profit

 2,250

 2,128

5.7%

as % of sales

44.5%

45.6%

 

EBITDA 1

 1,089

 1,126

(3.3%)

as % of sales

21.6%

24.1%

 

Operating income

 869

 875

(0.7%)

as % of sales

17.2%

18.8%

 

Income attributable to equity holders of the parent

 720

 644

11.9%

as % of sales

14.2%

13.8%

 

Balance sheet and cash flows

 

 

 

Operating cash flow

 861

805

7.0%

as % of sales

17.0%

17.3%

 

Free cash flow

 594

 597

(0.5%)

as % of sales

11.8%

12.8%

 

Total assets

7,309

6,514

12.2%

Equity in % of Total assets

48.4%

50.6%

 

Net debt

1,074

930

15.5%

Leverage ratio

21%

19%

 

1. EBITDA: Earnings Before Interest (and other financial income (expense), net), Tax, Depreciation and Amortisation. This corresponds to operating income before depreciation, amortisation and impairment of long-lived assets.
Note: Like-for-like excludes the impact of currency, acquisitions and disposals

Direct economic value generated and distributed¹ 

For the year ended 31 December, in millions of Swiss francs

2017

2016

Percentage change

Revenues 5,093 4,738 7.5%

Operating costs

(3,073)

(2,830)

8.6%

Payment to governments

(79)

(106)

(25.5%)

Payments to providers of capital

(557)

(546)

2.0%

Employee wages and benefits

(1,141)

(1,024)

11.4%

Economic value retained

243

232

4.7%

1. Value added is defined as the value created by the activities of our business minus costs relating to operations, payments to governments and providers of capital, and employee wages and benefits. 

Financial highlights

Group sales and growth rate
 

Group sales and growth rate

Free cash flow
 

Free cash flow

Dividend per share in Swiss francs
 

Dividend