On May 6, 2025, IFF announced its financial results for the first quarter of 2025. According to the report, net sales for the first quarter were $2.84 billion, a decrease of 2% from the same period last year. Further, loss before taxes on a reported basis was $994 million as a result of an impairment of goodwill of $1.15 billion in Food Ingredients related to the separation of the company’s Nourish segment. Currency neutral sales increased 3% over the same period in 2024 with strong growth in Taste, Pharma Solutions, Health & Biosciences and Scent.
“IFF delivered solid first quarter results, driven by disciplined execution and broad-based growth across most of our business,” said chief executive officer Erik Fyrwald. “Our growth, combined with ongoing productivity initiatives, contributed to a meaningful increase in profitability. We also successfully completed the divestiture of our Pharma Solutions business two months ahead of schedule, a key milestone that supports the achievement of our targeted debt leverage ratio.
“As we navigate the heightened macroeconomic uncertainty in today’s environment, we remain focused on what we can control - collaborating with our customers to drive growth, investing in innovation and delivering increased productivity. We are maintaining our full-year financial guidance ranges but recognize that the uncertain environment has potential for more challenges, yet we remain confident in our long-term strategy and the actions we are taking to strengthen IFF.”
