Givaudan reports strong full-year earnings
Scent and flavor manufacturing giant Givaudan posted full year results that demonstrated a strong underlying business at the end of last week. The company revealed that sales figures had been “robust” in all four quarters, registering total net sales of $5.5 billion for the year. That’s a 4.9% increase from the previous year.
Givaudan’s share price has appreciated by 21% over the past year
SOURCE: Yahoo Finance
The company saw particularly strong performance from its flavours division, which contributed over half of Givaudan’s sales ($2.9 billion) on its own. The flavours division saw sales increase by 5.3%, driven by positive trends in its dairy, snacks, and beverages product offerings. The division saw “particular success” in North America and Asia Pacific.
The company released the following statement over the results:
“Givaudan completed the year with good business momentum and with the project pipeline and win rates being sustained at high levels. The company continues to implement price increases in collaboration with its customers to fully compensate for the increases in input costs. The Company’s 2020 ambition is to create further value through profitable, responsible growth. Capitalising on the success of the 2011-2015 strategy, Givaudan’s 2020 ambition is built on the three strategic pillars of growing with its customers; delivering with excellence; and partnering for shared success.”
Givaudan’s flavor division was also the outperformer in the fourth quarter of the year, seeing a net sales rise of 7.6%. Earlier this month, the company appointed Louie D’Amico as the division’s new president.
Dominion holds Givaudan in its Global Trends Managed Fund.
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