THE WHAT?  Givaudan has reported solid performance for the first half of 2023. Its sales amounted to CHF 3,535 million, representing a 2.4% increase on a like-for-like basis and a 3.2% decrease in Swiss francs.

THE DETAILS?  Significant growth was observed in the Fine Fragrances segment, high-growth markets, and Europe. The company’s EBITDA was CHF 803 million with a margin of 22.7%, slightly up from 22.5% in 2022. Furthermore, net income rose by 9% in local currency, reaching CHF 449 million.

THE WHY?  Despite challenges in key markets and business segments, the firm performed well against its improvement objectives.