Givaudan Q1 Report 2024

”We are pleased with our very good start to 2024, driven by strong momentum in our established business and a high level of new wins. The strong growth has been achieved across all markets and segments and once again highlights the unique position of Givaudan in supporting the growth of our customers around the world with innovative high value-added products and solutions.” 

Gilles Andrier, CEO

In the first three months of 2024 Givaudan recorded sales of CHF 1,822 million, an increase of 12.6% on a like-for-like (LFL) basis1 and an increase of 2.8% in Swiss francs.

Givaudan started the year with strong business momentum, a healthy project pipeline and maintained its operations and global supply chain at a high level, against increased volume demand from customers and some continuing supply chain challenges. 

The strong growth was achieved across product segments and geographies, with the high growth markets growing at 21.8% on a LFL basis and the mature markets growing at 5.5% LFL.

Fragrance & Beauty sales were CHF 900 million, an increase of 16.3% LFL1 and an increase of 7.5% in Swiss francs.

On a business unit basis, Fine Fragrance sales increased by 16.8% LFL against a high prior year comparable growth of 20.9%, Consumer Products sales increased by 17.6% LFL and sales of Fragrance Ingredients and Active Beauty increased by 10.0% LFL.

The strong sales growth was achieved across all regions and customer groups, with particularly strong performance in the high growth markets and with local and regional customers.