PARIS — Swiss fragrance and flavors supplier Givaudan reported first-quarter sales gained 5.6 percent, crediting a strong product pipeline and easy comps.
In the three months ended March 30, the Vernier, Switzerland-based company’s sales were 1.15 billion Swiss francs, or $1.16 billion. Revenues rose 5.8 percent on a like-for-like basis.
The company’s fragrance sales were 561 million Swiss francs, or $564.8 million, up 8.1 percent in reported terms and 8.3 percent on a like-for-like basis. Its flavors revenues were 591 million Swiss francs, or $595 million, a 3.4 percent advance in local currencies and 3.5 percent on a comparable basis.
Sales generated in mature markets grew 5.9 percent to 628 million Swiss francs, or $632.3 million, and in high-growth markets they gained 5.2 percent to 524 million Swiss francs, or $527.6 million.
Dollar figures are converted at average exchange for the period to which they refer.
Givaudan reiterated its objective of outpacing the market with 4 percent to 5 percent sales growth and a free cash flow of 12 percent to 17 percent of sales on average over the next five years.
The company on Monday rebranded its cosmetics business with the “active beauty” moniker.