2023 Full year results
Strong financial performance – Record free cash flow – 2025 guidance on track
Givaudan Group full year sales were CHF 6,915 million, an increase of 4.1% on a like-for-like basis and a decrease of 2.8% in Swiss francs when compared to 2022.
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Group
4.1%
sales growth
LFL¹
Taste & Wellbeing
1.1%
sales growth
LFL¹
Fragrance & Beauty
7.6%
sales growth
LFL¹
2023 Half year results
Solid business performance
Givaudan Group sales for the first six months of the year were CHF 3,535 million, an increase of 2.4% on a like-for-like basis and a decrease of 3.2% in Swiss francs.
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Group
2.4%
sales growth
LFL¹
Taste & Wellbeing
–0.9%
sales growthLFL¹
Fragrance & Beauty
6.4%
sales growthLFL¹
Outlook
Committed to Growth, with Purpose
In 2021, Givaudan entered a new five-year strategic planning cycle that aims to deliver sustainable value creation for all stakeholders.
We are continuing on this journey against a continuing backdrop of uncertainty: increased volatility due to geopolitical uncertainties, supply challenges and a challenging economic environment.
However, our business has consistently shown its resilience and we remain confident in Givaudan’s capabilities. Our business is a systemically important part of the overall food and consumer products value chain, and we will remain focused on protecting and supporting our people, serving our customers and making a positive impact in the communities that work with us.
With visibility being short in the current circumstances, we are strongly focused on maintaining our supply chain at high levels and minimising any disruptions so we can continue to supply our customers around the world. At the same time, we will continue our disciplined approach to cost management throughout the business to reflect the current operating environment.
With our acquisitions throughout the 2020 strategic cycle, we are continuing our efforts to bring all of those activities onto the Givaudan systems and operating platforms during the first part of the 2025 strategic planning period.
Overall, we will move forward with close alignment to our purpose, creating for happier healthier lives with love for nature and a strong focus on our ambitious targets for 2025, aiming for average organic growth of 4-5% and average free cash flow of at least 12%. In addition, we have non-financial targets around sustainability, diversity and safety, all linked to the Company’s purpose.
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