Financials Givaudan SA

Equities

Real-time Estimate Cboe Europe Other stock markets 06:02:13 2024-12-05 am EST			5-day change	1st Jan Change
3,924.50 ^CHF	+0.45%		+1.22%	+12.37%

Dec. 03	Swiss Fragrance Group Givaudan Establishes New Humanitarian Fund	MT
Dec. 03	GIVAUDAN AG : JP Morgan remains Neutral	ZD

Fiscal Period: Dicembre	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	6,203	6,322	6,684	7,117	6,915	7,383	7,671	8,038
Change	-	1.92%	5.73%	6.48%	-2.84%	6.77%	3.89%	4.79%
EBITDA ¹	1,275	1,397	1,482	1,476	1,473	1,769	1,856	1,948
Change	-	9.57%	6.08%	-0.4%	-0.2%	20.08%	4.91%	4.98%
EBIT ¹	920	996	1,089	1,112	1,116	1,411	1,499	1,592
Change	-	8.26%	9.34%	2.11%	0.36%	26.4%	6.27%	6.21%
Interest Paid ¹	-112	-86	-94	-100	-120	-122.6	-122	-119.2
Earnings before Tax (EBT) ¹	808	876	965	928	989	1,306	1,351	1,454
Change	-	8.42%	10.16%	-3.83%	6.57%	32.04%	3.46%	7.59%
Net income ¹	702	743	821	856	893	1,113	1,153	1,240
Change	-	5.84%	10.5%	4.26%	4.32%	24.61%	3.63%	7.5%
Announcement Date	1/24/20	1/29/21	1/28/22	1/25/23	1/25/24	-	-	-

¹CHF in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	1,554	1,619	1,602	1,550	1,532	1,674	1,699	1,618	1,752	1,900	1,808	1,657	1,773	1,762	1,915	1,907	1,732
Change	-	4.15%	-1.05%	-3.21%	-1.19%	9.27%	1.49%	-4.77%	8.28%	8.45%	-4.84%	-8.35%	7%	-0.62%	8.68%	-0.42%	-9.18%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	904
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	1/24/20	4/8/20	7/21/20	10/29/20	1/29/21	4/14/21	7/22/21	1/28/22	4/12/22	7/21/22	10/11/22	1/25/23	4/20/23	7/20/23	7/23/24	10/10/24	-

¹CHF in Million

Estimates

Fiscal Period: December	2020 S1	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2	2026 S1
Net sales ¹	3,221	3,101	3,373	3,311	3,652	3,465	3,535	3,380	3,737	3,660	3,969	3,874	4,179
Change	-	-3.73%	8.77%	-1.84%	10.3%	-5.12%	2.02%	-4.38%	10.56%	-2.05%	8.43%	-2.4%	7.88%
EBITDA	734	663	809	673	816	660	763	710	929	-	-	-	-
Change	-	-9.67%	22.02%	-16.81%	21.25%	-19.12%	15.61%	-6.95%	30.85%	-100%	-	-	-
EBIT ¹	532	464	613	476	631	481	586	530	729	722.3	813.9	720.2	854.4
Change	-	-12.78%	32.11%	-22.35%	32.56%	-23.77%	21.83%	-9.56%	37.55%	-0.91%	12.68%	-11.51%	18.63%
Charge d'intérêts ¹	-39	-47	-46	-48	-48	-	-61	-	-59	-673	-	-	-
Earnings before Tax (EBT)	480	396	566	399	512	416	516	473	700	-	-	-	-
Change	-	-17.5%	42.93%	-29.51%	28.32%	-18.75%	24.04%	-8.33%	47.99%	-100%	-	-	-
Net income	413	330	481	340	440	416	449	444	588	-	-	-	-
Change	-	-20.1%	45.76%	-29.31%	29.41%	-5.45%	7.93%	-1.11%	32.43%	-100%	-	-	-
Announcement Date	7/21/20	1/29/21	7/22/21	1/28/22	7/21/22	1/25/23	7/20/23	1/25/24	7/23/24	-	-	-	-

¹CHF in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	3,679	4,040	4,390	4,530	4,305	4,110	3,747	3,319
Change	-	9.81%	8.66%	3.19%	-4.97%	-4.53%	-8.83%	-11.42%
Announcement Date	1/24/20	1/29/21	1/28/22	1/25/23	1/25/24	-	-	-

¹CHF in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	320	227	256	304	275	291.1	302.3	316.1
Change	-	-29.06%	12.78%	18.75%	-9.54%	5.84%	3.85%	4.58%
Free Cash Flow (FCF) ¹	816	906	1,032	644	1,098	1,035	1,134	1,190
Change	-	11.03%	13.91%	-37.6%	70.5%	-5.78%	9.57%	4.99%
Announcement Date	1/24/20	1/29/21	1/28/22	1/25/23	1/25/24	-	-	-

¹CHF in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	20.55%	22.1%	22.17%	20.74%	21.3%	23.96%	24.19%	24.23%
EBIT Margin (%)	14.83%	15.75%	16.29%	15.62%	16.14%	19.11%	19.54%	19.81%
EBT Margin (%)	13.03%	13.86%	14.44%	13.04%	14.3%	17.69%	17.61%	18.08%
Net margin (%)	11.32%	11.75%	12.28%	12.03%	12.91%	15.07%	15.03%	15.42%
FCF margin (%)	13.15%	14.33%	15.44%	9.05%	15.88%	14.01%	14.78%	14.8%
FCF / Net Income (%)	116.24%	121.94%	125.7%	75.23%	122.96%	92.97%	98.3%	96%
Profitability
ROA	7.14%	7.06%	7.44%	7.46%	7.89%	10.43%	10.3%	10.82%
ROE	19.1%	20.84%	22.13%	20.98%	21.71%	27.16%	25.28%	24.42%
Financial Health
Leverage (Debt/EBITDA)	2.89x	2.89x	2.96x	3.07x	2.92x	2.32x	2.02x	1.7x
Debt / Free cash flow	4.51x	4.46x	4.25x	7.03x	3.92x	3.97x	3.31x	2.79x
Capital Intensity
CAPEX / Current Assets (%)	5.16%	3.59%	3.83%	4.27%	3.98%	3.94%	3.94%	3.93%
CAPEX / EBITDA (%)	25.1%	16.25%	17.27%	20.6%	18.67%	16.46%	16.29%	16.23%
CAPEX / FCF (%)	39.22%	25.06%	24.81%	47.2%	25.05%	28.13%	26.67%	26.56%
Items per share
Cash flow per share ¹	122.3	121.9	138.6	102.5	148.7	138.8	158.8	167.9
Change	-	-0.32%	13.69%	-26.1%	45.14%	-6.68%	14.41%	5.73%
Dividend per Share ¹	62	64	66	67	68	73.18	76.12	79.89
Change	-	3.23%	3.12%	1.52%	1.49%	7.61%	4.03%	4.95%
Book Value Per Share ¹	392	375.6	422.9	458.7	432.4	475.1	525.5	582.6
Change	-	-4.17%	12.59%	8.46%	-5.72%	9.86%	10.62%	10.87%
EPS ¹	75.59	79.96	88.37	92.51	96.47	118.9	123.2	133.4
Change	-	5.78%	10.52%	4.68%	4.28%	23.24%	3.65%	8.29%
Nbr of stocks (in thousands)	9,218	9,229	9,228	9,227	9,227	9,227	9,227	9,227
Announcement Date	1/24/20	1/29/21	1/28/22	1/25/23	1/25/24	-	-	-