In the first quarter of 2024, Givaudan reported sales totaling CHF 1,822 million, marking a 12.6% increase on a like-for-like basis and a 2.8% rise in Swiss francs. The company entered the year with strong momentum in its business, a robust project pipeline, and maintained efficient operations and global supply chains despite some ongoing challenges.
Growth was notable across all product segments and regions, with high-growth markets expanding by 21.8% on a like-for-like basis and mature markets growing by 5.5% like-for-like. Fragrance & Beauty sales reached CHF 900 million, showing a 16.3% increase on a like-for-like basis and a 7.5% rise in Swiss francs.
Sales growth across Givaudan’s business units showed Fine Fragrance sales rising by 16.8% on a like-for-like basis, following a strong prior year growth of 20.9%. Consumer Products sales increased by 17.6% like-for-like, while Fragrance Ingredients and Active Beauty saw a 10.0% rise. This robust sales performance was observed across all regions and customer segments, with notable strength in high-growth markets and with local and regional clientele.
Taste & Wellbeing sales reached CHF 922 million, marking a 9.3% increase on a like-for-like basis, though showing a slight decrease of -1.5% in Swiss francs.
Regionally, sales performance was positive across the board, with Europe growing by 1.4% like-for-like, South Asia, Africa, and the Middle East experiencing a 9.4% increase, and Latin America achieving a significant 45.0% rise on a like-for-like basis. North America saw a 5.0% like-for-like growth, while Asia Pacific increased by 6.5%.
In terms of segments, there was robust double-digit growth in Snacks, Sweet Goods, and Dairy, along with high single-digit growth in Beverages.
Gilles Andrier, the CEO of Givaudan said, ”We are pleased with our very good start to 2024, driven by strong momentum in our established business and a high level of new wins. The strong growth has been achieved across all markets and segments and once again highlights the unique position of Givaudan in supporting the growth of our customers around the world with innovative high-value-added products and solutions.”
