Today, Swiss fragrance and flavor maker Givaudan (GIVN.S) reported impressive annual results for 2024, surpassing market expectations with strong sales growth across its global markets.
The company posted a 12.3% increase in full-year revenue on a like-for-like basis, reaching 7.41 billion Swiss francs ($8.19 billion), slightly above analysts’ forecast of 7.39 billion francs. This growth was driven by a particularly robust performance in the fragrance business, which was a key contributor to the company’s overall profitability.
Operating earnings before depreciation and amortization (EBITDA) grew by 19.8% on a reported basis, totaling 1.77 billion francs, exceeding the anticipated 1.75 billion francs. Givaudan’s performance signals that the company is on track to exceed its growth target for the 2021-2025 period. Over the past four years, Givaudan has maintained an average like-for-like sales growth of 7.2%, which positions it to outperform its projected growth range of 4-5% for the full five-year period.
The company’s Fragrance & Beauty unit saw a remarkable 14.1% increase in sales with CHF 3,660 million surpassing analysts’ expectations, with the Fragrance & Beauty segment outperforming the forecasted 13.9% growth.
Geographically, Latin America experienced the largest rise in organic sales, while North America saw more modest growth. Givaudan’s CEO, Gilles Andrier, expressed satisfaction with the company’s performance, noting the strong volume-driven sales growth across all markets, segments, and customer groups. In line with its solid financial performance, Givaudan proposed a dividend of 70 Swiss francs per share for 2024, a 2.9% increase over the previous year’s payout.
