Givaudan outperforms expectations: sales and net income up in the first half of the year

Givaudan has posted above-expected growth, including a 16.3% increase in net income in the first half of 2021 (CHF 481 million or approximately €444 million) compared to the first six months of 2020.

Thanks to the recovery of the fragrance sector, which was badly hit during last year’s lockdown, the Geneva-based group’s sales have risen to CHF 3.3 billion (+4.7%).

Excluding currency effects and acquisitions, sales in the Fragrance and Beauty division grew by 10.1%, with Fine Fragrances up 34.5% after a 16.4% decline in the first half of 2020. Sales of fragrance ingredients grew by 14.4%.

The company, which at the beginning of July acquired 25% of the share capital of Bergamo-based pharmaceutical cosmetics and luxury make-up specialist B.kolormakeup & skincare, confirms its growth prospects to 2025 with forecast sales growth of between 4% and 5%..

Image credits: Givaudan