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IFF To Be Organized Into Three Business Segments

International Flavors & Fragrances Inc. (IFF) will be organized into three business segments--Taste, Scent and Nutrition & Ingredients. The company announced the new organizational structure to align with its Vision 2021 strategy. The new structure will be fully implemented over the next twelve months, the company said.

Under the Vision 2021, the company will invest in high-growth and high-return platforms to continue to drive its R&D pipeline and accelerate long-term growth.

For the full year 2019, the company still expects earnings per share, excluding amortization, to be in the range of $6.30 - $6.50, adjusted earnings per share of $4.90 - $5.10, and sales of $5.2 billion - $5.3 billion. Analysts polled by Thomson Reuters expect the company to report earnings of $6.37 per share and revenues of $5.25 billion for 2019. Analysts' estimates typically exclude special items.

The company also reconfirmed its long-term financial targets for 2019-2021. It still projects currency neutral earnings per share growth, excluding amortization, to be 10%+, and 5%-7% currency neutral sales growth.

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