Givaudan posts report revenue in 2024, pushed by fragrances and sweetness

Swiss group Givaudan, specializing in perfumes and flavours, introduced on Friday January 24 a report revenue for the 2024 monetary yr, pushed as soon as once more by robust demand in perfumery. The group stated it anticipated to exceed its five-year progress goal.

Headquartered in Geneva, Switzerland, the corporate by no means publishes annual forecasts however five-year targets. It confirmed that it’s aiming for natural gross sales progress of 4% to five% for the interval as much as 2025. Nevertheless, it’s “extremely more likely to exceed the higher finish” of its goal since its like-for-like gross sales grew by a median of seven.2% for the interval 2021-2024, Givaudan stated in a press assertion.

The online earnings was CHF 1,090 million (EUR 1,150 million) in 2024 in comparison with CHF 893 million in 2023, a rise of twenty-two.1% in Swiss francs.

The group’s full yr gross sales have been CHF 7,412 million, a rise of 12.3% on a like-for-like foundation and a rise of seven.2% in Swiss francs when in comparison with 2023.

Quantity restoration

After a number of value hikes to compensate for inflation, progress was pushed in 2024 by an “exceptionally excessive enhance in volumes, which exceeded 10%”, Givaudan stated in its annual report.

The group’s progress was primarily pushed by the perfumes and sweetness division, with a gross sales enhance of 14.1% excluding forex results and acquisitions. In high-quality perfumery, gross sales grew by 18.4% regardless of a really excessive comparability base after a number of years of robust growth on this section.

The Perfume Elements and Energetic Magnificence companies delivered progress of 11.1% like-for-like.

Givaudan, which had efficiently diversified into skincare by acquisitions, additional expanded its enterprise vary by taking up the whole lot of b.kolormakeup & skincare in July. The acquisition of this Italian firm, wherein it had already taken a stake in 2021, gave it a foothold within the make-up class.

Gross sales within the ‘Style & Wellbeing’ division have been CHF 3,752 million, a rise of 10.7% on a like-for-like foundation and a rise of 4.1% in Swiss francs, in opposition to a comparable progress of 1.1% like-for-like in 2023.