VERNIER (dpa-AFX) - Givaudan (GVDBF.PK), a Swiss manufacturer of fragrance and flavor products, reported that its sales for the first nine months of 2019 ware 4.66 billion Swiss francs, an increase of 6.4% on a like-for-like basis and 14.5% in Swiss francs.
Fragrance Division sales were 2.09 billion francs, an increase of 8.5% on a like-for-like basis and an increase of 11.2% in Swiss francs, driven by the strong performance of new wins as well as price increases to recover the impact of higher input costs.
Flavour Division sales were 2.58 billion francs, an increase of 4.6% on a like-for-like basis and an increase of 17.4% in Swiss francs, driven by new wins and good business momentum across all regions, mainly coming from local and regional customers.
The company said its 2020 ambition is to create further value through profitable, responsible growth.
The company aims to outpace the market with 4%-5% sales growth and a free cash flow of 12%-17% of sales, both measured as an average over the five-year period of strategy cycle. It plans to maintain its current dividend practice as part of this ambition.
Copyright RTT News/dpa-AFX
© 2019 AFX News
