PARIS – Givaudan reiterated its financial goals for 2020 after registering strong growth in the third quarter of 2017.
In the January-September period, the Swiss fragrance and flavors maker posted revenue gains of 7.7 percent to 1.27 billion Swiss francs, or $1.3 billion. Group sales advanced 5.7 percent on a like-for-like basis.
“The company continues to successfully implement price increases in collaboration with its customers to compensate the increases in input costs,” Vernier, Switzerland-based Givaudan said in a statement on Tuesday. “The company reaffirms its 2020 ambition to create further value through profitable, responsible growth.”
The supplier maintained its financial targets through 2020, aiming for average sales growth of 4 percent to 5 percent and average free cash flow of 12 percent to 17 percent of revenues over a five-year period.
In the first nine months of this year, Givaudan posted sales of 3.76 billion Swiss francs, representing a 6.8 percent increase in reported terms and a 3.5 percent gain at constant group structure and currency levels.
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The company’s fragrance division’s revenues were up 2.5 percent to 1.74 billion Swiss francs, while its flavors division’s sales advanced 10.9 percent to 2.02 billion Swiss francs in the period.