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Givaudan Q3 Sales Rise 14.4%

The fragrance and flavors supplier reiterated its mid-term objectives.

PARIS Givaudan reported its third-quarter sales climbed 14.4 percent.

The Vernier, Switzerland-based fragrance and flavors supplier’s revenues in the three-month period ended Sept. 30 were 1.11 billion Swiss francs, or $1.15 billion. In local-currency terms, company sales gained 4.6 percent.

Givaudan’s fragrance division’s revenues were 539 billion Swiss francs, or $560.3 million, up 15.2 percent. Its flavors division’s sales came in at 566 billion Swiss francs, or $588.4 billion, a 13.6 percent rise.

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

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For the first nine months of 2012, the company registered sales growth of 8.8 percent to 3.23 billion Swiss francs, or $3.44 billion. Its fragrance division’s revenues were 1.53 billion euros, or $1.63 billion, a 9.9 percent increase. Givaudan’s flavors branch posted sales of 1.7 billion, or $1.81 billion, a 7.7 percent rise.

The firm 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.