Givaudan Reports Strong First-Quarter Sales, On Track to Meet 2012 Growth Targets
The company said sales rose to 1.06 billion Swiss francs ($1.15 billion). The Flavour Division reported sales of CHF 561.2 million ($612.8 million), representing an increase of 6.4% in local currencies and 3.0% in Swiss francs.
11 Apr 2012 --- Givaudan confirmed its mid-term sales growth target after posting a 4.7 percent rise in first-quarter sales on Wednesday thanks to a steady rise demand in emerging markets.
The company said sales rose to 1.06 billion Swiss francs ($1.15 billion).
The Flavour Division reported sales of CHF 561.2 million ($612.8 million), representing an increase of 6.4% in local currencies and 3.0% in Swiss francs.
Sales grew as a result of double digit increases of existing products in the developing markets of Asia, Latin America and Africa. Additionally, growth was fuelled by new wins in Asia Pacific, Latin America and North America, mainly in Beverages and Snacks.
Sales for Asia Pacific increased 9.4%, with double digit growth coming from the developing markets of China, India, Indonesia and Thailand. The mature markets of Korea and Japan delivered strong growth as well. Beverage achieved double digit growth while Dairy and Savoury performing strongly stemming from new wins and the good growth of existing products.
Sales for Europe, Africa and the Middle East grew 4.7%. Good growth was achieved in Africa and the other emerging markets. Overall, the performance was driven by new business and organic growth of existing products, with double digit gains in Snacks and strong performance in Beverages, Sweet Goods and Dairy.
Sales in Latin America delivered growth of 14.0%, continuing on the strong success of the previous year. Growth was the result of a strong performance in Argentina, Colombia and Mexico. New wins and growth of existing products in Beverages, Sweet Goods and Savoury helped drive the increase.
Sales increased 2.9% in North America. Double digit growth was achieved in Beverages and Snacks, driven by new wins in Health and Wellness flavours, as customers continue to demand tastier and healthier food and beverages.
