Givaudan has posted strong full-year financial results, as the company registered robust sales figures in all regions and positive fourth-quarter results.
The company registered net sales of 5.1 billion CHF ($5.5 billion) in the financial year 2016-2017, a 4.9% like-for-like increase from the 4.6 billion CHF ($4.9 billion) figure registered in 2015-2016.
The increase was driven in part by a strong performance from the company’s Flavours Division, which posted full-year net sales of 2.7 billion CHF ($2.9 billion) in 2017, up from 2.4 billion CHF ($2.6 billion) in 2016, a 5.3% like-for-like increase.
Dairy, snacks and beverages were the main contributors to the division’s growth, with the Asia Pacific and North American regions experiencing particular success.
The group performed strongly in the final quarter of the year, as the group’s total fourth-quarter sales rose to 1.3 billion CHF ($1.4 billion), a 9.4% rise from the previous year’s total of 1.1 billion CHF ($1.2 billion).
Givaudan’s Flavour Division was a big contributor to this rise, as the division posted fourth-quarter net sales of 691 million CHF ($739 million), from up from 614m ($656 million) CHF in 2016, a 7.6% rise.
Despite the increase in net sales, the company’s operating income dropped from 875m CHF ($936 million) in 2016 to 869m CHF ($929 million) in 2017.
A statement from the company said: “Givaudan completed the year with good business momentum and with the project pipeline and win rates being sustained at high levels.
“The company continues to implement price increases in collaboration with its customers to fully compensate for the increases in input costs.”
“The Company’s 2020 ambition is to create further value through profitable, responsible growth.
“Capitalising on the success of the 2011-2015 strategy, Givaudan’s 2020 ambition is built on the three strategic pillars of growing with its customers; delivering with excellence; and partnering for shared success.”
Givaudan appointed Louie D’Amico as the new president of its flavours division earlier this month.
© FoodBev Media Ltd 2022
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