VERNIER (dpa-AFX) - Givaudan (GVDBF.PK), a Swiss manufacturer of fragrance and flavor products, reported Friday that its fiscal 2021 net income grew 10.5 percent to 821 million Swiss francs from last year's 743 million francs.
Basic earnings per share were 89.03 francs, compared to 80.59 francs in the same period in 2020.
Earnings Before Interest, Tax, Depreciation and Amortisation or EBITDA grew 6 percent from last year to 1.48 billion euros. EBITDA margin was 22.2 percent, compared to 22.1 percent in 2020. On a comparable basis, the EBITDA margin was 22.5 percent, compared to 22.8 percent last year.
Givaudan Group's full- year sales were 6.68 billion francs, up 5.7 percent from last year's 6.32 billion francs. Sales grew 7.1 percent on a like-for-like basis.
The company said it is implementing price increases due to higher input costs in 2022, in collaboration with its customers to fully compensate for the increases in input costs.
At the Annual General Meeting on March 24, Givaudan's Board of Directors will propose a cash dividend of 66.00 francs per share for the financial year 2021, an increase of 3.1 percent versus 2020.
Looking ahead, Givaudan said its 2025 strategy is fully in line with its purpose. The company aims to achieve organic sales growth of 4-5 percent on a like-for-like basis and free cash flow of at least 12 percent, both measured as an average over the five-year period strategy cycle.
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