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Givaudan net sales up 42.2%
Feb '08
Givaudan's total sales increased to CHF 4,132 million from CHF 2,909 million in the previous year. This resulted in a growth of 42.2% in local currencies and 42.0% in Swiss francs. These sales include the acquisition of Quest International as of 2 March 2007.

On a pro forma basis - which reflects the combined activity of Givaudan and Quest International and assumes that the acquisition had taken place on 1 January 2006 – and excluding flavour portfolio streamlining, sales increased by 4.0% in local currencies and Swiss francs demonstrating a good momentum of the combined business. Including the streamlining effect, sales increased 2.8% in local currencies and Swiss francs.

The Fragrance Division recorded sales of CHF 1,899 million, which represents a growth of 54.9% in local currencies and 55.3% in Swiss francs. In pro forma terms, sales growth was 3.9% in local currencies and 4.2% in Swiss francs. This above-market growth was based on an excellent performance of the Consumer Products business unit in all regions and the strong sales growth of speciality ingredients, while Fine Fragrance sales declined slightly against strong comparables in 2006.

The Flavour Division reported sales of CHF 2,233 million, representing a growth of 33.0% in local currencies and 32.4% in Swiss francs. In pro forma terms and excluding the streamlining impact, sales growth was 4.2% in local currencies and 3.9% in Swiss francs. Including this effect, sales growth was 1.8% in local currencies and 1.5% in Swiss francs. The streamlining of commodity ingredients impacted sales by CHF 52 million, which includes the closure of the US-based New Milford site.

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