Givaudan (GIVN) Q3 2025 earnings summary

Executive summary

• Achieved sales of CHF 5,743 million in the first nine months of 2025, up 5.7% like-for-like and 1.7% in Swiss francs compared to the same period last year.

• Maintained strong volume growth and robust global supply chain operations despite higher input costs and macroeconomic challenges.

• Implemented price increases to offset higher input costs, including tariffs.

Financial highlights

• Fragrance & Beauty sales reached CHF 2,923 million, up 8.0% LFL and 5.1% in Swiss francs year-over-year.

• Taste & Wellbeing sales were CHF 2,820 million, up 3.4% LFL but down -1.5% in Swiss francs year-over-year.

• High growth markets delivered 8.1% LFL sales growth; mature markets also contributed positively.

• Currency effects negatively impacted reported sales by -4.7% for the group.

Outlook and guidance

• Strategy targets 4–5% organic sales growth LFL and at least 12% free cash flow as an average over the 2021–2025 cycle.

• With 7.2% average LFL sales growth from 2021–2024 and 5.7% in 2025, likely to exceed the upper end of the five-year sales growth target.

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