News Flash

Givaudan remains confident to outgrow underlying market

09 Oct '09

4 min read

Fragrance Ingredients
Sales of Fragrance Ingredients were strong in the third quarter with single digit growth. Destocking that had been seen in the first half year appears to have come to an end and sales recovered, particularly in specialty ingredients. Overall sales in the first nine months still remain below last year's level.

Flavour Division
The Flavour Division recorded sales of CHF 1,637.9 million, representing an increase of 1.1% in local currencies and a decline of 2.9% in Swiss francs. Excluding the effects of the divested business, growth in local currencies was 1.5%. The sales momentum for the division continued to improve in the third quarter, with the division posting a growth of 2.9% in local currencies. The weak economy continued to impact the sales growth in North America, Central and Eastern Europe, whilst in Asia Pacific and Latin America, the division posted strong growth.

Asia Pacific
Fuelled by new wins, sales in Asia Pacific increased at a high single digit rate. The developing markets grew at a double digit rate with particularly strong sales in China, Indonesia and India. The mature markets have shown signs of recovery in recent months. All segments contributed to the strong growth.

Europe, Africa and Middle East
Sales in the third quarter showed a slight improvement due to the renewed strength in the mature markets.Africa and the Middle East posted strong growth.

North America
Sales in North America declined at a low single digit rate with improvements in Sweet Goods, Beverage and Dairy as new wins and new technology help offset volume erosion as the difficult economic conditions continue impacting our customers.

Latin America
Sales in Latin America increased at a double digit rate. All markets are above 2008 with Brazil, Mexico, Argentina and Colombia posting very strong growth rates. Most segments realised positive growth with Beverages leading the way followed closely by Dairy and Savoury, both driven by new wins.

Givaudan Suisse SA

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