(RTTNews) - Givaudan (GVDBF.PK), a Swiss manufacturer of fragrance and flavor products, reported Tuesday that its first-half net income increased 8.8 percent to 413 million Swiss francs from last year's 380 million francs. Basic earnings per share were 44.81 francs, compared to 41.24 francs last year.
The EBITDA increased 11.3 percent from last year to 734 million francs, and the EBITDA margin was 22.8 percent, up from 21.3 percent in 2019. On a comparable basis, the EBITDA margin was 23.7 percent in 2020, compared to 22.3 percent a year ago.
Givaudan Group sales were 3.22 billion francs, an increase of 4.1 percent from last year's 3.09 billion francs. Sales grew 4 percent on a like-for-like basis.
Fragrance Division sales grew 4.5 percent and Flavour Division sales grew 3.6 percent, both on a like-for-like basis.
Looking ahead for the year, Givaudan aims to outpace the market with 4-5 percent sales growth and a free cash flow of 12-17 percent of sale.
Further, the company said its "ambitions include doubling its business through creations that contribute to happier, healthier lives by 2030, becoming climate positive before 2050, becoming a leading employer for inclusion before 2025 and sourcing all materials and services in a way that protects the environment and people by 2030."
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