PARIS – Givaudanthe world’s largest supplier of flavors and aromas, will see prices rise this year
“With higher input costs in 2022, the company is coordinating with customers to implement price increases to fully offset the increase in input costs.” Givaudan said in a statement released Friday morning.
Net profit at the Zurich-based company rose 10.5% to 821 million Swiss francs, or $880.9 million for the whole of 2021. Operating profit was 1.09 billion francs, up 9,9 3%.
The company’s sales for the period totaled 6.68 billion francs, up 5.7% in franc terms and 7.1% on a similar basis.
The company’s Fragrance and Beauty sales were $3.09 billion, up 5.8% in local currency and 6.6% on a constant basis. Revenue for the Taste and Wellbeing division grew 5.7% in francs and 7.6% on a similar basis to 3.59 billion francs.
Sales in mature markets reached 6.3% and in high growth markets 8.3% on a similar basis.
In Perfume and Beauty, the product categories hit hardest in the early stages of the health crisis – fine fragrances and, to a lesser extent, dynamic beauty – have grown by two. numbers in 2021.
The beverage, savory, and snack categories registered strong sales growth in the Taste & Wellness division, as well as the plant-based protein, health & wellness, and natural protein segments. .
Givaudan’s Q4 2021 sales increased 5.6% to 1.62 billion francs, driven by all product segments and geographies.
The Group reiterates its goals for 2025, driven by three growth ambitions: portfolio expansion, customer reach, and focused market strategy.
By 2025, Givaudan targets organic sales growth of 4% to 5% on a similar basis and free cash flow of at least 12% – both averaged year on year.
In addition, the company has non-financial goals that are primarily around sustainability, diversity and safety related to Givaudan’s purpose.
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https://wwd.com/beauty-industry-news/beauty-features/givaudan-implementing-price-increases-1235056842/ Givaudan Implementing Price Increases This Year – WWD