Fragrance producer Givaudan reports strong sales in Q1
08 Apr '06
4 min read
Sales of Fragrance Ingredients showed a slight decline due to the further discontinuation of commodities. It has been largely offset by the continued double-digit growth of specialties, which showed a consistent strong growth since 2003. The ingredients portfolio has moved from low growth, low margin commodities to high impact, high value added, patent-protected ingredients. Some of these specialties now occupy a top 10 position within this business unit.
Flavour Division The Flavour division recorded first quarter sales of CHF 440.5 million which represents a growth of 4.5 percent in local currencies and 11.4 percent in Swiss francs. Latin America achieved a double-digit increase while Europe, Africa, Middle East (EAME) and North America showed a strong single-digit growth. The Beverage and Savoury segments showed the highest growth.
Sales in Asia Pacific declined slightly due to a strong first quarter 2005 comparable. China continued to post solid double-digit growth with highest growth recorded in the Beverage segment stemming from new wins with key customers. This performance was partially offset by the decline in sales in Japan.
The completion of the new creation, technology and production centre in Shanghai is on schedule and will be operational from August 2006.
Latin America posted strong double-digit sales growth, driven by new wins in the beverage and confectionery segments. Strongest growth was reported in Argentina as well as a good single digit growth in Brazil.
marketing@alchempro.com
