GENEVA—Givaudan released results for the full year 2010. Overall, the company saw increased sales and reduced debt. For 2011, the company anticipates some price increases, given the sharp increase in key raw material prices in 2010.
Gilles Andrier, Chief Executive Officer, comments: “I am proud that we have successfully achieved all our integration targets and delivered excellent 2010 results. As the clear market leader, we now enter with confidence into the next era of profitable growth. It is our continuous aspiration to be the essential partner to our customers in developing sustainable fragrance and flavor creations."
Givaudan Group sales totaled CHF 4,239 million, an increase of 8.9% in local currencies and 7.1% in Swiss francs compared to the previous year. Sales in the Flavor Division were CHF 2,251 million, an increase of 7.5% in local currencies and 5.4% in Swiss francs compared to the previous year.
According to a company press release:
“The Flavor Division reported sales of CHF 2,251 million, representing a growth rate of 7.5% in local currencies and an increase of 5.4% in Swiss francs.
The Flavor Division saw an accelerating momentum in North America and Europe and continued strong growth across Asia Pacific and Latin America. All major segments posted gains with Beverage, Snacks and Sweet Goods delivering double-digit growth.
Throughout all regions and segments, the Flavor Division worked closely with its customers on growth and innovation opportunities. In Health and Wellness applications, the division continued its successful commercialization of sweetness and salt replacement solutions, translating into double-digit growth rate in this market segment."
