Givaudan (GIVN) Q3 2024 earnings summary

Executive summary

• Nine-month 2024 sales reached CHF 5,644 million, up 13.0% like-for-like (LFL) and 7.2% in Swiss francs compared to the same period last year.

• Strong volume-driven growth achieved across all product segments, geographies, and customer groups.

• High growth markets grew 20.9% LFL, while mature markets increased 6.6% LFL.

Financial highlights

• Fragrance & Beauty sales: CHF 2,782 million, up 15.6% LFL and 10.8% in Swiss francs year-over-year.

• Taste & Wellbeing sales: CHF 2,862 million, up 10.7% LFL and 3.9% in Swiss francs year-over-year.

• Q3 2024 Group sales: CHF 1,907 million, up 14.1% LFL and 10.2% in Swiss francs compared to Q3 2023.

• Currency effects negatively impacted reported sales by 6.1% for the nine-month period.

Outlook and guidance

• 2025 strategy targets 4-5% organic sales growth LFL and free cash flow of at least 12% as a five-year average.

• Long-term ambitions include doubling business by 2030, becoming climate positive before 2050, and sourcing all materials sustainably by 2030.