THE WHAT? Givaudan has announced that a continued focus on China, acquisitions, and smaller and local customers will enable it to grow 4-5 percent on average until 2025, according to a report by Reuters.
THE DETAILS Speaking at an investor day, Chief Executive Gilles Andrier stated that he was ‘very confident on the company’s profitability.’
Adding that not all of its sites were operating at full capacity following the COVID-19 pandemic, Andrier went on to highlight Givaudan’s growth goals going forward.
Looking to double sales by 2030, company plans include continuing to expand its current portfolio into nutrition, food ingredients and beauty. There would also be a focus on markets with smaller, local brands, while continuing to invest in high-growth markets such as China.
THE WHY? Despite a fall in demand for food service products allocated to restaurants, as well as fragrances for perfumes, Givaudan has remained relatively resilient in the face of coronavirus as consumers continued to spend on packaged foods and household goods that contained its ingredients. As a result, shares were up more than 27 percent this year.