PARIS — Givaudan noticed its advantageous perfume enterprise rebound within the second quarter of 2021 after being onerous hit by the coronavirus pandemic.
In the three months ended June 30, the Swiss perfume and flavors provider total registered a 6.1 % on-year gross sales rise to 1.69 billion Swiss francs, or $1.85 billion. Its Fragrance & Beauty division’s revenues elevated 9.1 % to 776 million francs, whereas the Taste & Wellbeing division’s gross sales grew 3.6 % to 923 million francs.
For the primary half of the yr, Givaudan registered web income of 481 million francs, up 16.3 %. Total group gross sales have been up 4.7 % to three.37 billion francs.
“As the COVID-19 pandemic continued to have an impact on a global level, Givaudan sustained good business momentum whilst maintaining its operations and global supply chain at a high level,” the corporate stated in a press release Thursday. “The strong growth was achieved across most product segments and geographies, with the mature markets growing at 6.1 percent and the high-growth markets at 10.4 percent on a like-for-like basis.”
The firm’s Fragrance & Beauty division’s gross sales got here in at 1.56 billion francs within the first half, up 7.4 %. Fine perfume gross sales surged 34.5 % on a like-for-like foundation, spurred by a powerful rebound of status fragrances and specialty retail.
“In Fragrance & Beauty, the product segments most affected by the COVID-19 pandemic, namely fine fragrances and to a lesser extent active beauty, showed a strong improvement in the first half of 2021 as retail activity picked up and as customers and consumers maximized the availability of other channels, including direct selling and e-commerce,” stated Givaudan.
Givaudan’s Taste & Wellbeing division’s gross sales have been 1.81 billion francs within the first half, a 2.5 % achieve.
“In Taste & Wellbeing, the food service segment was still impacted by the COVID-19 pandemic, however [it] experienced a strong recovery in the second quarter, as restrictions in relation to home food and beverage consumption started to be lifted in certain markets,” Givaudan stated.
Gilles Andrier, chief govt officer of Givaudan, stated all elements of the group’s enterprise contributed to the monetary outcomes, as did contributions from strategic progress areas earmarked for 2025. Those embody increasing the portfolio, extending buyer attain and centered market methods.
By 2025, Givaudan goals to achieve natural gross sales progress of between 4 and 5 % on a like-for-like foundation and a free money stream of at the least 12 %, as measured as a median throughout a five-year cycle. Non-financial targets are set, as effectively, for sustainability, range and security.