PARIS – Givaudan’s net profit advanced 11.7 percent in full-year 2017, spurred by strong sales growth in the fourth quarter.
“Givaudan completed the year with good business momentum and with the project pipeline and win rates being sustained at high levels,” the Swiss fragrance and flavors maker said in a statement. “The good growth was achieved across all product segments and geographies, with recent acquisitions all contributing positively.”
Givaudan also said that it “continues to implement price increases in collaboration with its customers to fully compensate for increases in output costs.”
Net profit reached 720 million Swiss francs, or $770 million, in the year ended Dec. 31.
The Vernier, Switzerland-based company posted sales of 5.05 billion Swiss francs, up 8.3 percent versus 2016. Revenues gained 4.9 percent on a like-for-like basis.
In the October through December period, company sales advanced 12.9 percent in Swiss francs and 9.4 percent on a like-for-like basis.
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In the fourth quarter, the fragrance division’s sales increased 12 percent and sales in its flavor division were up 7.2 percent, both in like-for-like terms.
Givaudan 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.