By  on April 13, 2010

PARIS — Givaudan reported its first-quarter sales increased 9.2 percent year-over-year to 1.07 billion Swiss francs, or $1.01 billion at average exchange. The Swiss firm’s fragrances and flavors divisions both contributed to growth.

In local currencies, revenues in the three months ended March 31 rose 10.6 percent.

“Excellent momentum” was noted in developing markets, while mature markets’ business continued to improve in the quarter, the company stated.

Givaudan’s fragrance division posted revenues of 495.7 million Swiss francs, or $469.2 million, up 13.1 percent, due to a number of new wins and improved sales of existing products. In local currencies, the division’s revenues gained 14.3 percent. Also in local currency terms, the firm’s fine fragrance sales spiked 26.9 percent, its consumer products revenues grew 10.5 percent and fragrance ingredients sales improved 18 percent. Givaudan’s flavors division’s revenues rose 6.1 percent to 570.7 million Swiss francs, or $540.2 million. In local currencies, the increase was 7.6 percent.

The company stated it is confident it will reach the announced savings target of 200 million Swiss francs, or $187.4 million at current exchange, by yearend, and therefore will hit its pre-Quest acquisition earnings before interest, taxes, depreciation and amortization margin level of 22.7 percent. Givaudan acquired Quest in 2007.

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