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Firmenich 2009 Results Fall on Discretionary Product Declines
Posted: October 12, 2009
Firmenich reported fiscal 2009 sales of CHF 2,641 million, a decline of 4.3% year-over-year. Predictably, the company was worst affected by non-discretionary consumer product sales, notably fine fragrance. Across the board, Western Europe and the North America were soft, with growth coming from developing regions such as Latin American, Africa, Eastern Europe and some localities in Asia.
Fragrance sales were down overall, primarily in fine fragrances. Meanwhile, laundry and hair care fragrances led the resilient body and home care segments. Ingredient sales mirrored fragrance declines.
Firmenich has reported that its innovations work and various external partnerships have yielded 32 new patents for flavor and fragrance ingredients, delivery systems, and original processes that do "more with less and better."