VERNIER (dpa-AFX) - Givaudan (GVDBF.PK), a Swiss manufacturer of fragrance and flavor products, reported Tuesday that its first-quarter sales were 1.67 billion Swiss francs, up 3.4 percent from last year's 1.62 billion francs. Sales grew 7.7 percent on a like-for-like basis.
Fragrance & Beauty sales were 788 million francs, up 5.8 percent in Swiss francs and up 9.9 percent on a like-for-like basis. Taste & Wellbeing sales were 886 million francs, an increase of 1.3 percent in Swiss francs. Like-for-like sales increased 5.8 percent.
The good growth was achieved across most product segments and geographies. High growth markets recorded sales growth of 14.5 percent on a like-for-like basis.
CEO Gilles Andrier said, 'We have seen continued strong demand across the parts of our business which are less impacted by the COVID-19 pandemic and improving conditions in the parts of our portfolio which have been more affected.'
Looking ahead for fiscal 2025, the company said it aims to achieve organic sales growth of 4-5 percent on a like-for-like basis and free cash flow of at least 12 percent, both measured as an average over the five-year period strategy cycle.
The companies ambitions include doubling its business through creations that contribute to happier, healthier lives by 2030, becoming climate positive before 2050, becoming a leading employer for inclusion before 2025 and sourcing all materials and services in a way that protects the environment and people by 2030.
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