Givaudan Full Year 2009 Results
Posted: February 18, 2010
Givaudan reported 2009 sales of CHF 3,959 million, an increase of 1.4% in local currencies and a decrease of 3.1% in Swiss francs compared to the previous year. Excluding the impact of divestments, sales increased by 1.6% versus 2008. Fragrance division sales totaled CHF 1,824 million, an increase of 0.9% in local currencies and a decrease of 3.9% in Swiss francs versus 2008. Flavor division sales totaled CHF 2,135 million, an increase of 1.9% in local currencies and a decrease of 2.5% in Swiss francs compared to the previous year. The company's total 2009 investments in property, plant and equipment were CHF 95 million, down from CHF 194 million in 2008.
According to an official release, the company expects to outgrow the market in 2010, "based on its growing pipeline of briefs and new wins." The company believes it will meet a savings target of CHF 200 million by 2010, bringing it to its pre-acquisition EBITDA margin level of 22.7%. And, according to the company, "in an improving environment, Givaudan continues to focus on its growth initiatives to expand in developing countries and in key segments."