Givaudan records ‘solid’ half-year financial results

Fragrance and beauty house Givaudan recorded half-year 2023 sales of 3.535 billion Swiss francs ($4.07 billion), an increase of 2.4% on a like-for-like basis from a year earlier.

EBITDA (earnings before interest, tax, depreciation and amortisation), however, fell by 6.6% to 763m Swiss francs from 816m for the same period in 2022.

The Swiss firm said good growth was driven by the strong performance of fine fragrances with sustained high levels of new business, as well as the impact of price increases across all businesses.

On a business unit basis, Fine Fragrance sales increased by 16.2% against a prior-year comparable growth of 17.9%.

Consumer Products sales increased by 3.7% and sales of Fragrance Ingredients and Active Beauty increased by 4.4%