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Givaudan 2013 Profits Rise 19.5%

The Swiss fragrance and flavors supplier reported sales grew 2.6 percent in the period.

PARIS — Givaudan reported its net profits for 2013 rose 19.5 percent to 490 million Swiss francs, or $528.8 million, spurred by an improved operating performance, stable financial expenses and a lower income tax rate.

 

The Vernier, Switzerland-based fragrance and flavors supplier’s operating income increased 10.7 percent to 693 million Swiss francs, or $747.9 million. In local-currency terms, it advanced 12.5 percent.

 

Givaudan’s earnings before interest, tax, depreciation and amortization (EBITDA) gained 9.1 percent to 970 million Swiss francs, or $1.05 billion.

 

The company’s full-year sales were 4.37 billion Swiss francs, or $4.72 billion, up 2.6 percent in reported terms and 5.5 percent on a like-for-like basis.

 

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

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Givaudan’s fragrance division posted a 3 percent rise in sales to 2.08 billion Swiss francs, or $2.25 billion. The firm’s flavor division registered revenues of 2.29 billion Swiss francs, or $2.47 billion, up 2.3 percent.

 

The company said developing markets now generate 45 percent of its sales and their business gained 9.7 percent on a like-for-like basis.

 

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.