HB ZURICH. The proceeds of Givaudan rose 8.5 percent to 3.28 billion francs (2.4 billion euros), as the rival Symrise announced on Friday. Analysts had expected anything less.
Currency changes left out of a sales increase was 9.8 percent. However, sales growth slowed in the third quarter due to strong prior year quarter to 5.2 percent, having been in the first six months, revenues were up by 10.5 percent.
The stock moved in Zurich by 0.2 percent, while the Swiss stock market fell slightly. According to Kepler Capital Markets analyst Jon Cox, growth rates declined less sharply than had been feared last was.
Like other Swiss companies also currently makes Givaudan to create, above all, the strong franc. In addition, the business is going with the flavor enhancers in food a little worse – except for the confectionery, drinks and snacks. Also the perfume segment grew again on the rise. Especially the sales of luxury perfumes, which were asked in the economic crisis put on little, and since the beginning to over twenty percent.
Thus, the Geneva-based company is well on track to achieve its revenue and profit targets for the current year and beyond. Givaudan has written for 2010 sales growth of five percent in local currencies and an operating profit margin (EBITDA) of 22.7 percent on the flags. In addition, Givaudan will grow over the next five years, each year, organic sales by 4.5 percent to 5.5 percent. The estimated market growth, the Group continues with two to three percent.