VERNIER (dpa-AFX) - Givaudan AG (GVDBF.PK), a Swiss maker of flavors, fragrances, and cosmetic ingredients, reported Thursday higher sales in its first quarter, with growth in both segments and all regions.
In the first three months of 2025, Givaudan recorded sales of 1.98 billion Swiss Francs, up 8.5 percent from last year's 1.82 billion francs. On a like-for-like basis, sales grew 7.4 percent.
The company showed strong business momentum, delivering good growth across business segments and markets.
Sales in high growth markets increased 12.8 percent on a LFL basis, against a strong prior year comparable of 21.8 percent. Sales in mature markets increased 2.6 percent on a LFL basis versus 5.5 percent last year.
Fragrance & Beauty sales were 1.009 billion francs, an increase of 12.2 percent in Swiss francs and up 9.8 percent on LFL basis.
The company noted that the strong sales growth was achieved across regions and customer groups, with particularly strong performance in the high growth markets and with local and regional customers.
Taste & Wellbeing sales were 968 million francs, a growth of 5 percent on a reported as well as on LFL basis.
On a regional basis, the good sales performance was achieved in all regions. On LFL basis, Europe grew 7.1 percent and South Asia, Africa and the Middle East sales increased 10.4 percent.
In North America, sales increased 0.5 percent, versus growth of 5.0 percent last year. Latin America grew 5.1 percent and Asia Pacific increased 6.1 percent on LFL basis.
Looking ahead, the company projects organic sales growth of 4 percent to 5 percent on LFL basis, measured as an average over the five-year period strategy cycle.
With average LFL sales growth of 7.2 percent for the period 2021-2024 and the continued strong LFL growth in the first quarter, Givaudan said it is highly likely to exceed the upper end of its average five-year sales growth target of 4-5 percent on a LFL basis for the period 2021-2025.
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