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Givaudan reveals positive sales results
Givaudan has released financials for the first nine months of 2009. Sales were SFr3,025.5m – an increase of 0.4% in local currencies and a decrease of 3.9% in Swiss francs.
Excluding the effects of the divested business in the flavour division, growth in local currencies was 0.6%.
For the full year 2009, Givaudan remains confident to outgrow the underlying market, based on the solid brief pipeline and recent new wins.
The integration achievements of Quest have reinforced Givaudan’s platform for accelerated growth and performance improvement. Givaudan continues to leverage its growth initiatives to increase its share in developing countries and in key market segments.
The company is confident to achieve the announced savings target of SFr200m by 2010, and therefore to reach its pre-acquisition Ebitda margin level of 22.7% by 2010.
Source: Givaudan
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