Givaudan has beaten analysts’ estimates, reporting EBIDTA of CHF638 million for the first half of financial 2016, well above the predicted CHF576 million.
The Swiss flavors and fragrance giant’s fine fragrance division achieved double-digit growth in the North American region, pushing fine fragrance sales up 11.1 percent overall on a like-for-like basis, and contributing to a 9.7 percent uplift for the fragrance division as a whole, where sales reached the heady heights of CHF1,132 million.
The Consumer Products segment also had cause to celebrate, reporting sales growth of 10.2 percent thanks to double-digit growth in Latin America and Asia and a solid performance in the EAME and North American regions.
Givaudan also announced a change to its Executive Committee, as Adrien Gonckel, Chief Information Officer, prepares to retire on August 1. Anne Tayac, currently Head of Fragrance Operations, will become a member of the Executive Committee in his stead, taking up the role of Head of Givaudan Business Solutions, responsible for designing, implementing and leading a global organisation for business services and solutions.
The company reiterated its outlook for the five years to 2020, setting a target to outpace the market with an average of 4 to 5 percent sales growth.