Givaudan tops 2024 forecasts with robust gross sales progress throughout markets

(Reuters) -Swiss perfume and flavour maker Givaudan on Friday reported annual outcomes above market expectations, buoyed by robust gross sales progress throughout its markets, and mentioned it will almost certainly exceed the expansion goal for 2021-2025.

Robust gross sales progress has boosted Givaudan’s profitability over the previous 12 months, with an exceptionally robust perfume enterprise main the best way.

Its full-year income rose 12.3% on a like-for-like foundation to 7.41 billion Swiss francs ($8.19 billion), beating analysts’ common forecast of seven.39 billion in a ballot compiled by the corporate.

Working earnings earlier than depreciation and amortization (EBITDA) grew 19.8% on a reported foundation to 1.77 billion francs, additionally increased than the 1.75 billion anticipated by the analysts.

Givaudan, which makes fragrances for perfumes and flavours for meals and drinks, mentioned that based mostly on common like-for-like gross sales progress of seven.2% within the final 4 years, it was set to exceed the higher finish of its 4-5% goal vary for the five-year steering interval.

Full-year gross sales on the Perfume & Magnificence unit grew by 14.1% on a like-for-like foundation from 2023, whereas the Style & Wellbeing enterprise, which makes up greater than a half of Givaudan’s income, recorded a ten.7% improve on the identical foundation.

Each beat analysts’ expectations for 13.9% and 10.1% progress, respectively.

Amongst its markets, Latin America recorded the largest rise in natural gross sales, whereas North America noticed the smallest improve.

“We’re very happy with our monetary efficiency in 2024, pushed by a excessive degree of quantity associated gross sales progress throughout all markets, segments and buyer teams,” CEO Gilles Andrier mentioned in a press release.

Givaudan proposed a dividend of 70 francs per share for 2024, 2.9% increased than what was paid final 12 months.

($1 = 0.9051 Swiss francs)