Firmenich Sales up Over Six Percent
06 Oct 2016 --- Firmenich which has reported full year sales were up over six percent and has published a wide-ranging Performance and Sustainability report. The world's biggest private flavor and fragrance company has reported sales of CHF 3.2bn ($3.28bn), up 6.3 percent, in its full-year financial results. Highlights of its year, detailed in the report, according to Firmenich include the 29 patent applications it applied for; its environmental goals for 2020; and the advancements it has made in biomarine science.
Its financial results reveal that its three flavor divisions – Beverage, Sweet Goods and Savory – all reported increased sales.
Across Beverage, there was growth in hot drinks, juices and nectars, while consumers were also drawn to fruit tonalities such as berries and grape.
Confectionery, dairy, bakery and cereals boosted sales across Sweet Goods while mint was also in high demand.
The Swiss company said it would be investing in its Savory division in future years. Classic tonalities in Latin America, Southeast Asia helped drive growth across Savory.
Firmenich also highlighted that it was taking a "leadership" role in Biomarine Ingredients saying that its "biomarine ingredients show promise in helping maintain a healthy lifestyle."
During 2016, Firmenich has looked to bolster its Flavor Ingredients sector by investing to further develop its Analysis of Flavor and Fragrances In Real Time (AFFIRM) technology. The technology aims to help Firmenich improve its understanding of complex flavor systems.
Across fragrances, sales grew across all units, helped by marketing and consumer insight.
In its report, Firmenich noted how coconut as its flavor of 2016, saying its "popularity shows no signs of slowing."
Gerry Van Gerven, Senior Flavorist at Firmenichin Thailand, said: “This new generation of coconut flavors in particular is modern and redefined, adding freshness and giving a different spin to products compared to the well-established ‘classic coconut’ flavors."
In 2016, Firmenich published a range of environmental targets to be achieved by 2020, as it looks to become a carbon neutral company.
Targets include reducing CO2 emissions by 20 percent and cutting waste generation by 15 percent.
“We owe this year’s solid results to the trust of our customers, the strength of our research and the passion of our people”, said Gilbert Ghostine, CEO, Firmenich. “This strong vote of confidence is proof that our high investment in world-class research and creativity is delivering the right results.”
“We are committed to taking this further, to continuously create winning solutions for our customers to strengthen their brands and delight their consumers.”
