Givaudan’s Fragrance Business Bounces Back in First Half – WWD

PARIS — Givaudan noticed its fantastic perfume enterprise rebound in the second quarter of 2021 after being laborious hit by the coronavirus pandemic.
In the three months ended June 30, the Swiss perfume and flavors provider total registered a 6.1 % on-year gross sales rise to 1.69 billion Swiss francs, or $1.85 billion. Its Fragrance & Beauty division’s revenues elevated 9.1 % to 776 million francs, whereas the Taste & Wellbeing division’s gross sales grew 3.6 % to 923 million francs.
For the primary half of the yr, Givaudan registered web earnings of 481 million francs, up 16.3 %. Total group gross sales have been up 4.7 % to three.37 billion francs.
“As the COVID-19 pandemic continued to have an effect on a worldwide degree, Givaudan sustained good enterprise momentum while sustaining its operations and world provide chain at a excessive degree,” the corporate stated in an announcement Thursday. “The sturdy progress was achieved throughout most product segments and geographies, with the mature markets rising at 6.1 % and the high-growth markets at 10.4 % on a like-for-like foundation.”

The firm’s Fragrance & Beauty division’s gross sales got here in at 1.56 billion francs in the primary half, up 7.4 %. Fine perfume gross sales surged 34.5 % on a like-for-like foundation, spurred by a robust rebound of status fragrances and specialty retail.

“In Fragrance & Beauty, the product segments most affected by the COVID-19 pandemic, specifically fantastic fragrances and to a lesser extent energetic magnificence, confirmed a robust enchancment in the primary half of 2021 as retail exercise picked up and as clients and shoppers maximized the provision of different channels, together with direct promoting and e-commerce,” stated Givaudan.
Givaudan’s Taste & Wellbeing division’s gross sales have been 1.81 billion francs in the primary half, a 2.5 % acquire.
“In Taste & Wellbeing, the meals service section was nonetheless impacted by the COVID-19 pandemic, nevertheless [it] skilled a robust restoration in the second quarter, as restrictions in relation to residence meals and beverage consumption began to be lifted in sure markets,” Givaudan stated.
Gilles Andrier, chief govt officer of Givaudan, stated all elements of the group’s enterprise contributed to the monetary outcomes, as did contributions from strategic progress areas earmarked for 2025. Those embody increasing the portfolio, extending buyer attain and targeted market methods.
By 2025, Givaudan goals to succeed in natural gross sales progress of between 4 and 5 % on a like-for-like foundation and a free money circulate of at the least 12 %, as measured as a median throughout a five-year cycle. Non-financial targets are set, as nicely, for sustainability, range and security.

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