Givaudan FY19 Profit Rises, Lifts Dividend; On Track To Deliver FY20 View

Givaudan (GVDBF.PK), a Swiss manufacturer of fragrance and flavor products, reported Friday that its fiscal 2019 net income grew 6 percent to 702 million Swiss francs from 663 million francs in 2018. Basic earnings per share were 76.17 francs, higher than last year's 71.92 francs.

The EBITDA increased 11.4 percent from the prior year to 1.28 billion francs, while EBITDA margin was almost flat at 20.6 percent in 2019. On a comparable basis, the EBITDA margin was 21.5 percent, up from 21.0 percent last year.

Givaudan sales increased 12.2 percent to 6.20 billion francs from 5.53 billion francs last year. Sales increased 5.8 percent on a like-for-like basis.

Fragrance Division sales grew 10.9 percent and Flavour Division sales grew 13.4 percent in Swiss francs.

Further, the company said its Board of Directors will propose a cash dividend of 62 francs per share for fiscal 2019, an increase of 3.3 percent, at the Annual General Meeting on March 25.

Looking ahead, the company said the delivery of 2020 guidance is fully on track.

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