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.
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.