Givaudan Group sales totalled CHF 4,257 million, an increase of 6.6% in local currencies and 8.7% in Swiss francs compared to 2011.
Sales of the Fragrance Division were CHF 2,021 million, an increase of 8.4% in local currencies and 10.3% in Swiss francs.
Sales of the Flavour Division were CHF 2,236 million, an increase of 5.0% in local currencies and 7.4% in Swiss francs compared to 2011.
Fine Fragrances sales grew by 4.2% in local currencies. A strong performance in developing markets and in Europe more than compensated for lower sales in the US.
Growth in developing markets was driven by a combination of new business and volume gains at a number of customers. In mature markets, the good growth in Europe was not sufficient to offset the erosion and challenging comparables in North America.
Givaudan also highlighted the fact that its fragrances won in ten of the thirteen categories at the Fragrance Foundation's FiFi Awards. The fragrance, Our iPerfumer2, won the FiFi Technological Breakthrough of the Year, and also won the award for Information Technology at the World Perfumery Congress.
In its Consumer Products business unit, sales increased by 12.1% in local currencies against last year’s strong comparables. Important new wins, a soft erosion rate on existing business and price increases contributed to this growth. This solid performance was driven by developing markets, supported by good growth in mature markets.