Firmenich Reports Strong Financial Results
Posted: October 12, 2011
Firmenich reported financial results for its fiscal year ended June 30, 2011, nothing sales growth in all regions and segments, with emerging markets such as China and the Asia Pacific in the lead, followed by Western Europe, North America, Latin America and the Middle East. The company reported a 5.8% sales increase in local currencies, but a 3.9% decline in Swiss francs, coming in at CHF2,781.6 million.
The company’s perfumery division posted robust single-digit sales increases in local currencies. Fine fragrance achieved double-digit sales growth in fiscal year 2011, through the introduction of new launches from brands and strong performance from classic fragrances. Body and home care also posted sales increases, achieving solid growth, and sales progress was particularly strong in the laundry care category, as breakthrough innovations drove newness in fabric conditioners. Consumers also responded positively to new fragrance variants and product forms offered by air freshener brands. Additionally, outstanding performances were achieved at prestige specialty retail, in particular with body and skin care products, followed by robust sales of mass body perfume, deodorants and new hair care brands. Geographically, Western Europe posted the strongest growth, driven by fine fragrances and the positive momentum of sales to retail brands, followed by Asia Pacific and China, each recording healthy sales in the home care category. Latin America posted robust sales gains in fine fragrances while in North America, healthy single-digit sales growth was achieved in comparison to strong prior year performance, followed by the emerging markets of Eastern Europe, the Middle East and Africa.
Additionally in fiscal 2011, Firmenich introduced its “Sharing Innovation” promotion and dedicated its focus to the market introduction of five new ingredients, including a spicy coumarin note with a creamy touch, a high-performing woody amber note and a blooming white floral. Also, the company’s new perfumery ingredient production plant in Gujarat province, India became fully operational, as all the necessary process steps were taken to ensure the company’s ability to respond to the growing demand from the global perfumery market, and in May 2011, Firmenich officially inaugurated its Naturals Innovation Center in Grasse, France.
For more on Firmenich’s annual report and its 2011 sustainability report, visit Firmenich’s website.