Givaudan says prices will keep on rising

Givaudan says prices will keep on rising

THE WHAT? Givaudan said that it will continue to implement price increases in collaboration with its customers to fully compensate for the increase in input costs it is experiencing this year. The flavors and fragrances manufacturer branded its performance in the first three months of the financial year ‘a good start’.

THE DETAILS Sales grew 4.6 percent on a like-for-like basis as compared to the prior year period. Fragrance and Beauty sales hit CHF810 million, up 2.7 percent yoy on a like-for-like basis. Fine Fragrance sales soared 17.4 percent and Active Beauty put on 8.2 percent, while the Consumer Products unit dipped 2.3 percent.

THE WHY? The sales growth was driven by continued strong volume increases in Fine Fragrances with a sustained high level of new business, as well as continued double-digit growth in Active Beauty, Givaudan said. Demand for Fragrance Ingredients continued to remain strong, whilst the performance of Consumer Products was impacted by the strong prior year comparable growth.

Gilles Andrier, CEO, commented, “We are very pleased with the good start that we have made to 2022, despite the challenging external environment affecting many parts of our business. Our good sales growth of 4.6 percent on a like-for-like basis has been achieved against a strong prior year comparable growth of 7.7 percent on a like-for-like basis, and demonstrates the strength of our business and of our organisation in supporting our customers around the world.”

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