Flavour and fragrance giant Givaudan has posted its full-year results with sales of CHF 5.5 bn, up 5.6 % on the previous year. Net income decreased to CHF 663 m in 2018 from CHF 720 m in 2017. This results in a net profit margin of 12 %, versus 14 % in 2017. Financing costs in 2018 were CHF 55 m, versus CHF 42 m in 2017, largely related to the increase in the net debt of the group in connection with the Naturex acquisition in September 2018.
Flavour Division sales were CHF 3,002 m, an increase of 4.6 % on a like-for-like basis. Fragrance Division sales were CHF 2,525 m, an increase of 7 % on a like-for-like basis and 8 % in CHF.
Givaudan says it completed the year with good business momentum and with the project pipeline “being sustained at high levels” as growth was achieved across all product segments and geographies, with key strategic focus areas on naturals, health and well-being.