Givaudan AG reported a 1.5% decline in third-quarter sales to CHF 1.88 billion, primarily driven by weakness in its Taste & Wellbeing segment, though like-for-like (LFL) sales still grew 4.4%. Fragrance & Beauty sales increased 6.8% LFL, while Taste & Wellbeing saw a 2.1% LFL rise. For the first nine months, sales increased 1.7% to CHF 5.74 billion, or 5.7% LFL, and the company reiterated its expectation to exceed the upper end of its 4-5% LFL organic sales growth target for the 2021-2025 strategic cycle.
Givaudan AG reported a 1.5% decline in third-quarter sales to CHF 1.88 billion, primarily due to reported weakness in its Taste & Wellbeing segment. However, underlying performance remains robust, with like-for-like (LFL) sales growing a solid 4.4% for the quarter, indicating strong organic demand despite currency headwinds or divestitures. The Fragrance & Beauty division demonstrated significant strength, achieving 6.8% LFL sales growth to CHF 968 million. Conversely, the Taste & Wellbeing segment experienced a 4.3% reported sales decrease, yet still managed a 2.1% LFL increase, suggesting that while reported figures were impacted, underlying demand in this segment also grew. For the first nine months, Givaudan's sales increased 1.7% to CHF 5.74 billion, with LFL growth reaching 5.7%. The company reiterated its optimistic outlook, stating it is "highly likely to exceed the upper end" of its 4-5% LFL organic sales growth target for the 2021-2025 strategic cycle, reinforcing confidence in its long-term trajectory.
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