Givaudan Reports 7.2% Sales Growth in 2024

A recent report highlights Givaudan AG's impressive 7.2% sales growth for the first nine months of fiscal 2024, driven by robust performances across all segments and regions. The company's long-term goals further reflect optimism for sustained growth.

Date: 10-10-2024

AI Rating: 7

Givaudan AG has shown a significant revenue growth, reporting a 7.2% increase in sales for the first nine months of fiscal 2024, amounting to 5.64 billion Swiss Francs, up from 5.27 billion francs last year. This growth rate is particularly noteworthy as it was achieved across all product segments, geographies, and customer groups.

On a like-for-like (LFL) basis, the company recorded an even more impressive growth rate of 13 percent. Within its major segments, Fragrance & Beauty sales rose by 10.8% in Swiss francs, with a LFL growth of 15.6%. Moreover, the Fine Fragrance category saw a substantial increase of 17.8% LFL, which is remarkable given the strong growth seen in the previous year of 13.7%.

Additionally, Taste & Wellbeing's sales reached 2.86 billion francs, an increase of 3.9% on a reported basis and a 10.7% LFL increase. This suggests that the company is successfully navigating its product offerings and geographical markets to achieve strong results.

Givaudan's strategic outlook is also positive. The company has set a target for organic sales growth of 4-5 percent on a like-for-like basis in its 2025 strategy, which aligns with its ongoing performance. Its ambitions for long-term initiatives—such as doubling business by 2030, becoming climate positive, and prioritizing inclusive employment—also signal a commitment to sustainable growth.

In summary, Givaudan AG's strong revenue growth, ambitious future goals, and robust performance across all segments and markets present a positive outlook for investors, indicating potential stability and profitability in the near future.

Stocks: GVDBF