Givaudan Sa Stock Earnings Reports

Givaudan delivered a strong 2025 with CHF 7.47bn sales (+5.1% like-for-like; +0.8% in CHF), comparable EBITDA margin of 24.2% (second-highest in 15 years), net income of CHF 1,071m (14.3% margin) and free cash flow of CHF 1,053m (14.1% of sales) — the second consecutive year above CHF 1bn. Growth was broad-based: Fragrance & Beauty grew 7.9% LFL (with Fine Fragrances up ~18%) and Taste & Wellbeing grew 2.4% LFL. High-growth markets (49% of sales) grew 8% and local & regional customers now represent 60% of sales. The Board will propose a CHF 72/share dividend (25th consecutive increase). Management completed the 2021–25 strategic cycle, hitting financial and nonfinancial targets (including SBTi-aligned net-zero ambition and significant progress on responsible sourcing and diversity). Key 2030 financial ambitions were reiterated: 4–6% LFL average sales growth over the next five years and maintaining industry-leading free cash flow generation (target >12% of sales). Balance sheet metrics improved: net debt CHF 3.7bn, net debt/EBITDA 2.1x, weighted average interest ~1.94%, and continued discipline on capex (~3.8% of sales). Near-term outlook: expect continued volatility in 2026, limited input-cost pressure, some one-off nonrecurring costs (investigations and performance optimization), and continued focus on pricing actions and natural hedges. Leadership transition: CEO Gilles Andrier will step down March 1, 2026 (Christian Stammkoetter to succeed); Gilles will stand for election as Chair.