VERNIER (dpa-AFX) - Givaudan (GVDBF.PK), a Swiss manufacturer of fragrance and flavor products, reported that its net income for the first half of 2018 declined 3.4 percent to 371 million Swiss francs from 384 million francs last year. Earnings per share decreased to 39.84 franc from 41.37 franc in the year-ago period.
This resulted in a net profit margin of 13.9 percent compared to 15.5 percent last year.
Operating income for the six-month period was flat with the year-ago period at 489 million francs, while operating margin decreased to 18.3 percent from 19.7 percent a year ago.
EBITDA edged up 0.7 percent to 601 million francs from 597 million francs in the year-ago period. The EBITDA margin decreased to 22.5 percent from 24.0 percent last year.
The Group's sales for the first half grew 7.7 percent to 2.67 billion francs from 2.48 billion francs, and it rose 5.6 percent on a like-for-like basis. Fragrance Division sales grew 7.5 percent, while Flavour Division sales grew 7.8 percent, both in Swiss francs.
Givaudan said its 2020 ambition is to create further value through profitable, responsible growth. Building on the first two years of this strategic cycle in 2016 and 2017, Givaudan's 2020 ambition is built on the three strategic pillars of 'Growing with our Customers', 'Delivering with Excellence', and 'Partnering for Shared Success'.
Copyright RTT News/dpa-AFX