VERNIER (dpa-AFX) - Givaudan AG (GVDBF.PK), a Swiss maker of flavors, fragrances, and cosmetic ingredients, reported that its net income for fiscal year 2024 increased to 1.09 billion Swiss francs from last year's 893 million Francs, with earnings per basic share improving to 118.17 francs from 96.81 francs in the prior year.
Annual group sales were 7.412 billion francs, an increase of 12.3% on a like-for-like basis and an increase of 7.2% in Swiss francs when compared to 2023. The strong growth was achieved across product segments and geographies, with the high-growth markets growing at 19.5% on a LFL basis and the mature markets at 6.4% LFL.
At the Annual General Meeting on 20 March 2025, Givaudan's Board will propose a cash dividend of 70.00 francs per share for the financial year 2024, an increase of 2.9% versus 2023.
Givaudan said it is highly likely to exceed the upper end of its average five-year sales growth target of 4%-5% on a like-for-like basis for the period 2021-2025.
The company noted that it has appointed Antoine Khalil, currently Commercial Head Taste & Wellbeing North America (NOAM), as President Taste & Wellbeing effective 1 April 2025. He succeeds Louie D'Amico, who will retire as President Taste & Wellbeing. Louie D'Amico will remain available until the end of September 2025 to provide management advice and support on strategic projects.
Antoine Khalil will become President Taste & Wellbeing and a member of the Executive Committee on 1 April 2025.
Louie D'Amico will retire after a 35+ year career in the flavour industry, culminating in his 7-year tenure as President Taste & Wellbeing at Givaudan.
The company noted that at the Annual General Meeting on 20 March 2025, all Board members, except for Olivier Filliol, will stand for re-election. In addition, the Board of Directors will propose to the Annual General Meeting of shareholders to elect Melanie Maas-Brunner and Louie D'Amico as new Board members; Melanie Maas-Brunner with effect as of the date of the Annual General Meeting of shareholders and Louie D'Amico with effect as of 1 October 2025. All Board members will be elected for a term of office that ends at the Annual General Meeting in 2026.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
