Fragrance and beauty house Givaudan recorded half-year 2023 sales of 3.535 billion Swiss francs ($4.07 billion), an increase of 2.4% on a like-for-like basis from a year earlier.
EBITDA (earnings before interest, tax, depreciation and amortisation), however, fell by 6.6% to 763m Swiss francs from 816m for the same period in 2022.
Fragrance & Beauty sales were 1.672 billion Swiss francs, an increase of 6.4%.
The Swiss firm said good growth was driven by the strong performance of fine fragrances with sustained high levels of new business, as well as the impact of price increases across all businesses.
On a business unit basis, Fine Fragrance sales increased by 16.2% against a prior-year comparable growth of 17.9%.
Consumer Products sales increased by 3.7% and sales of Fragrance Ingredients and Active Beauty increased by 4.4%.
“We are pleased with our solid performance in the first half of 2023, with particularly strong performance in Fine Fragrances, high growth markets and Europe,” said CEO Gilles Andrier.
“In an environment where we are still facing ongoing challenges in some key markets and business segments, I am very happy with our delivery against our performance improvement plan objectives, as well as our continued strong focus on supporting the growth of our customers around the world,” he added.
