Swiss personal care ingredient maker Givaudan recorded 1% year-on-year sales growth in 2023 in its Active Beauty business unit.
The total Fragrance & Beauty sales, which also include the Fine Fragrances and Consumer Products units, were 3.312 billion Swiss francs ($3.84 billion), an increase of 7.6% on 2022.
Givaudan said the growth was driven by high levels of new business for its Fine Fragrances with an acceleration of the volume growth of its Consumer Products business in the second half of 2023 and price increases in all business units.
Overall 2023 Givaudan group sales – including its Taste & Wellbeing segment – rose 4.1% to 6.915 billion Swiss francs.
Gross profit increased by 3% to 2.846 billion Swiss francs - a gross margin of 41.2% in 2023 compared to 38.8% a year earlier.
The company noted it made progress in emissions reduction for its Active Beauty business through energy efficiency measures.
These include upgrades to its Pomacle site in northeast France that achieved annual savings of 132 MWh of electricity on its compressed air system.
This was made possible by an assessment of leakage points and their subsequent repair through a maintenance programme.