Givaudan Sales Flat in 3Q as Pandemic Weighed on Business
2020年10月8日 - 4:14PM
Dow Jones News
By Olivia Bugault
Givaudan SA said Thursday that sales were flat in its third
quarter, as the coronavirus pandemic continued to affect some of
its activities.
Sales in the quarter were stable at 1.57 billion Swiss francs
($1.71 billion), the Swiss flavor and fragrance maker said.
For the first nine months of the year, sales grew 2.7% to
CHF4.79 billion, the company said. On a like-for-like basis, sales
increased 3.7%.
"In the product segments most affected by the Covid-19 pandemic,
namely fine fragrances and, to a lesser extent, active beauty in
fragrance and beauty and food service in taste and well-being, the
group experienced a continued reduction in business activity, as
the restrictions related to the Covid-19 pandemic curtailed retail
and travel retail activity as well as out-of-home food
consumption," said the company about the January-September
period.
"We aim to outpace the market with 4%-5% sales growth and a free
cash flow of 12-17% of sales, both measured as an average over the
five-year period of our strategy cycle," Givaudan said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
October 08, 2020 02:59 ET (06:59 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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