Flavors and fragrances maker Givaudan continues to benefit from strong luxury perfumery business. In the first nine months, the Swiss group generated more sales than in the same period last year, although the growth momentum cooled down over the course of the year. Nevertheless, CEO Gilles Andrier sees the company on track to exceed its growth targets in the current five-year cycle, as Givaudan announced on Tuesday in Vernier. The shares rose 0.1 percent in premarket trading.
Sales rose by 1.7 percent to 5.74 billion francs (6.17 billion euros) from January to September. Organically, i.e. adjusted for purchases and sales as well as currency influences, Givaudan grew by 5.7 percent in the period. In the third quarter the figure was slightly lower at 4.4 percent, but average market expectations were exceeded.
At the same time, the luxury perfumery sector continued its dynamic development, growing above average with an organic increase of 18.7 percent in the first three quarters.
CEO Andrier is “very satisfied” with the figures – despite geopolitical and macroeconomic uncertainties, growth has been achieved in all regions and among all customer groups. The company confirmed its goals for the five-year cycle that runs until the end of 2025 and that the targeted target range of organic growth of 4 to 5 percent will very likely be exceeded despite the recent slowdown. In the first four years of the cycle, the group even achieved an average growth of 7.2 percent.
Meanwhile, Givaudan is facing a leadership change. After twenty years at the helm, Andrier will step down on March 1, 2026. He has already – somewhat unusually – given his successor Christian Stammkoetter a new target range: from 2026 to 2030, Givaudan should then grow organically in a target corridor of 4 to 6 percent. Stammkoetter is moving to Givaudan from the French food group Danone, where he is currently responsible for business in the Asia, Middle East and Africa region.