2022 Half Year Report
Solid business performance in a challenging environment
Creating for happier, healthier lives,
with love for nature.
Let's imagine together.
Givaudan is committed to driving purpose-led,long-term growth by increasing our positive
impact on nature and improving people's health and happiness.
Table of contents
At a glance | 03 |
2025 Strategy | 05 |
Business performance - Group | 06 |
Half Year Financial Report | 09 |
At a glance
First half of 2022
KEY FIGURES
For the six months ended 30 June, in millions of Swiss francs, except for | 2022 | 2021 | Percentage | |
earnings per share data | change | |||
Group sales | 3,652 | 3,373 | 8.3% | |
Fragrance & Beauty sales | 1,646 | 1,564 | 5.3% | |
Taste & Wellbeing sales | 2,006 | 1,809 | 10.9% | |
Like-for-like sales growth | 6.2% | 7.9% | ||
Gross profit | 1,459 | 1,480 | (1.4%) | |
as % of sales | 40.0% | 43.9% | ||
EBITDA a | 816 | 809 | 0.9% | |
as % of sales | 22.4% | 24.0% | ||
Operating income | 631 | 613 | 2.9% | |
as % of sales | 17.3% | 18.2% | ||
Income attributable to equity holders of the parent | 440 | 481 | (8.4%) | |
as % of sales | 12.1% | 14.3% | ||
Operating cash flow | 131 | 415 | (68.4%) | |
as % of sales | 3.6% | 12.3% | ||
Free cash flow | (147) | 186 | (179.0%) | |
as % of sales | (4.0%) | 5.5% | ||
Earnings per share − basic (CHF) | 47.74 | 52.19 | (8.5%) |
- EBITDA defined as Earnings before interest (and other financial income (expense), net), Tax, Depreciation and Amortisation, corresponds to operating income before depreciation, amortisation and impairment of long-lived assets.
SALES PERFORMANCE FROM JANUARY TO JUNE
2021 | like-for-like | 2022 | Change % | Acquisition | 2022 | Change % | |||||
on | Currency | ||||||||||
Sales as | develop- | Sales | like-for-like | impact | Sales as | in Swiss | |||||
in millions of Swiss francs | reported | ment like-for-like | basis | (net) | effects | reported | francs | ||||
Group | 3,373 | 211 | 3,584 | 6.2% | 92 | (24) | 3,652 | 8.3% | |||
- Fragrance & Beauty | 1,564 | 74 | 1,638 | 4.7% | 21 | (13) | 1,646 | 5.3% | |||
- Taste & Wellbeing | 1,809 | 137 | 1,946 | 7.6% | 71 | (11) | 2,006 | 10.9% | |||
SALES EVOLUTION BY MARKET - JANUARY TO JUNE | |||||||||||
2021 | like-for-like | 2022 | Change % | Acquisition | 2022 | Change % | |||||
on | Currency | ||||||||||
Sales as | develop- | Sales | like-for-like | impact | Sales as | in Swiss | |||||
in millions of Swiss francs | reported | ment like-for-like | basis | (net) | effects | reported | francs | ||||
Mature markets | 1,938 | 105 | 2,043 | 5.4% | 63 | (30) | 2,076 | 7.1% | |||
High growth markets | 1,435 | 106 | 1,541 | 7.4% | 29 | 6 | 1,576 | 9.8% | |||
SALES EVOLUTION BY REGION - JANUARY TO JUNE | |||||||||||
2021 | 2022 | Change % | Change % | ||||||||
in millions of Swiss francs | on like-for-like basis | in Swiss francs | |||||||||
LATAM | 365 | 420 | 9.0% | 15.3% | |||||||
APAC | 851 | 883 | 2.7% | 3.7% | |||||||
NOAM | 924 | 984 | (1.5%) | 6.4% | |||||||
EAME | 1,233 | 1,365 | 13.7% | 10.7% |
Note: Like-for-like (LFL) is defined as: (a) sales calculated using the invoicing exchange rates of the prior year, (b) excluding sales of businesses acquired from the acquisition date until the period end date, up to 12 months from the acquisition date, and (c) excluding sales of the businesses disposed of from the disposal date until the period end date of the comparable prior period.
Givaudan - 2022 Half Year Report 3
Sales
CHF 3,652
million
Up 6.2% on a like-for-like
basis and 8.3% in Swiss francs
At a glance
Good business momentum
Performance summary | ||||||
Good sales | Net income | Comparable | Free cash flow | |||
CHF | EBITDA margin | - 4.0% | ||||
performance across the | ||||||
portfolio and markets, | million 440 | 22.5% | ||||
despite strong prior year | of sales | |||||
comparables | compared to | Driven by higher working | ||||
24.2% in 2021 | capital requirements & | |||||
investments | ||||||
"We are very pleased with our solid performance in the first half of 2022, despite the challenging environment that we are continuing to operate in. I am proud of the way in which we have again demonstrated the resilience of our business and our strong focus on supporting the growth of our customers around the world."
Gilles Andrier, CEO
First
sustainable-
linked
financing event
with renewal of the Group Committed Credit Facility
Givaudan - 2022 Half Year Report 4
Our 2025 ambition
Delivering sustainable value creation
for all stakeholders
2025 Strategy
Committed to Growth, with Purpose
Performance commitments
Creations
We create inspiring solutions for happier, healthier lives
People
We nurture a place where we all love to be and grow
TH | PO | |||||||
D | E | RT | ||||||
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A | O | |||||||
P | L | |||||||
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F | Growing | |||||||||
O | together with | H | ||||||||
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C | C | |||||||||
S | our customers | A | ||||||||
D | E | |||||||||
S | R | |||||||||
E | ||||||||||
R | ||||||||||
M | ||||||||||
R | E | |||||||||
M | ||||||||||
A | O | |||||||||
E | T | |||||||||
K | S | |||||||||
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S | U | |||||||||
T | C | |||||||||
R | D | |||||||||
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GI | X | |||||||||
E | S | E | T | |||||||
Nature
We show our love for nature through impactful actions
Communities
We bring benefits to all communities that work with us
Sales growth Free cash flow Purpose commitments
4.0% | >12 % | linked | |
5.0 % | Purpose | ||
to | of sales | targets | |
2021 - 2025 | 2021 - 2025 | 2021 - 2025 | |
Average Like for Like1 | Average FCF2 | Progress towards all | |
Sales Growth | as % of sales | published purpose target |
Excellence, Innovation and Simplicity
in everything we do
-
Like-for-like(LFL) is defined as: (a) sales calculated using the invoicing exchange rates of the prior year,
(b) excluding sales of businesses acquired from the acquisition date until the period end date, up to
12 months from the acquisition date, and (c) excluding sales of the businesses disposed of from the disposal date until the period end date of the comparable prior period. - Free Cash Flow (FCF) refers to operating cash flow after net investments, interest paid, lease payments and purchase and sale of own equity instruments.
Givaudan - 2022 Half Year Report 5
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Givaudan SA published this content on 21 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 July 2022 04:33:01 UTC.