VERNIER (dpa-AFX) - Givaudan AG (GVDBF.PK), a Swiss manufacturer of flavors, fragrances, and cosmetic ingredients, reported Thursday a decline in net income in its first half of fiscal 2026, with weak net sales.
In its 2030 strategy, Givaudan said it continues to target 4-6 percent average like-for-like sales growth over the five-year period, along with over 12 percent average adjusted free cash flow.
Net income for the first six months totaled CHF 475 million, a 19.8 percent decrease from CHF 592 million in the prior year period.
Adjusted basic earnings per share reached CHF 60.25, down 9.7 percent from CHF 66.71 a year ago.
Adjusted EBITDA declined 5.2 percent year-over-year to CHF 923 million, with the adjusted EBITDA margin contracting to 24.3 percent from 25.2 percent in the prior year.
Group sales for the first six months totaled CHF 3.799 billion, down 1.7 percent from CHF 3.864 billion a year ago. Sales grew 3.6 percent on a like-for-like basis.
Fragrance & Beauty segment sales reached CHF 2.01 billion, growing 6.5 percent on a like-for-like basis and 2.9 percent in Swiss francs. Taste & Wellbeing segment sales were CHF 1.789 billion, increasing 0.5 percent on a like-for-like basis but declining 6.3 percent in Swiss francs.
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