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Givaudan 2012 Profits Rise 63.1%

The Swiss fragrance and flavors suppliers’ revenues gained 8.7 percent in the year.

PARIS — Givaudan reported its full-year 2012 net profits grew 63.1 percent to 411 million Swiss francs, or $438.5 million, bolstered by an improved operating performance, decreased financial expenses and a lower income-tax rate.

The Vernier, Switzerland-based fragrance and flavors supplier’s operating income in the 12-month period grew 37 percent to 607 million Swiss francs, or $647.6 million.

Sales were up 8.7 percent to 4.26 billion Swiss francs, or $4.54 billion. On a constant-currency basis, revenues rose 6.6 percent.

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Dollar figures are converted at average exchange for the period to which they refer.

The company’s fragrance division’s sales were 2.02 billion Swiss francs, or $2.16 billion, a 10.3 percent increase. Its flavor division’s revenues gained 7.4 percent to 2.24 billion Swiss francs, or $2.39 billion.

Givaudan reiterated its mid-term objectives of growing organically between 4.5 percent and 5.5 percent annually, assuming market growth of 2 percent to 3 percent, and continuing market-share gains.

“Givaudan expects to outgrow the underlying market and to continue to achieve its industry-leading EBITDA margin while improving its annual free cash flow to between 14 percent and 16 percent of sales by 2015,” the company stated.