Consumer products drives Givaudan sales growth in H1 2012

Swiss flavours and fragrances company Givaudan has announced sales of nearly CHF2.13bn in the first six months of 2012, an increase of 6.9% in local currencies and 6.0% in Swiss francs. Sales growth was driven by Givaudan’s fragrance division, which increased 8.3% in local currencies to reach CHF994m, while its larger flavour business grew 5.6% to reach CHF1.13bn.

Within the company’s fragrance division, it’s consumer products business fared especially well, with sales up 12.2% in local currencies on the prior year period. This said Givaudan, was the result of double digit growth in Asia Pacific and Latin America, driven by international customers as well as strong increases with local and regional customers. Meanwhile, Givaudan’s fine fragrance business grew 2.4% and fragrance ingredients declined 2.1%.

EBITDA increased 12.0% to CHF428m from CHF382m in the first six months of 2011, but was somewhat hampered by higher pension costs and the start up of a new facility in Makó, Hungary.